When it comes to borrowing are you clued up, or completely clueless? Is your credit history spotless, or does it bear a few black marks? Find out with our credit check quiz.
1. Which of the following best describes your credit situation?
a) I have a mortgage and one credit card which I pay off every month - I find it's simpler to keep on top of things with fewer accounts.
b) I've got a car loan, a personal loan and two credit cards -which I usually manage to juggle successfully.
c) I've got so many cards and loans that I've lost count - I never know when I may need to get my hands on more credit.
2. What are you like when it comes to making your mortgage, loan or card repayments?
a) I always pay on time and in full - I've set up direct debits so I never miss a payment.
b) I generally pay on time, but sometimes I can't manage the full amount.
c) I skip a month every now and then, when money's tight and I just can't afford it.
3. What do you think lenders do when they are deciding whether to lend to you or not?
a) They check your credit report to see your credit history, as well as looking at the information you gave in your application.
b) They base their decision on your application form and any other supporting documents you send them.
c) They only care whether you earn enough money to make the repayments.
4. How often do you check your credit report?
a) Regularly, to make sure it's all up to date and accurate - I don't want a clerical error to spoil my chances of getting a good deal.
b) The last time I checked it was a few years ago, after I had an application for credit turned down - I don't see why I should bother unless there's a problem.
c) Never - I don't want to be reminded of how much I owe.
5. Which of the following best describes how you feel about your credit rating?
a) My credit rating is good, and it can improve even more if I keep on showing that I'm a responsible borrower.
b) Credit ratings only show what my position is now - past problems won't show up, so they don't count.
c) I'm not sure, but I think my credit rating must be OK because I've got so many different credit accounts already.
What were your answers?
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