What are we doing?
We’re trying to help people become more aware about how lenders assess your credit worthiness – what’s important and what isn’t.
On this site you will find a guide that provides simple steps to help people understand their credit score and take simple steps, to improve it. We also want to debunk the myths we uncovered in a survey of consumers about credit scores and how decisions are made by lenders over whether to accept applications for mortgages, loans and credit cards. The guide is designed to help consumers help themselves.
Ultimately, we’re trying to help you get the best possible deal, when you apply for a loan, mortgage or credit card.
We have also undertaken a large piece of research of the financial health of UK consumers. We have been able to provide your MP with a financial health check of how credit aware their own constituency is, with more detail on what needs to happen to make improvements.
Initial results show that young people are most likely to be engaged with checking their credit profiles through a credit reference agency but some groups are not engaged but could really benefit from getting more involved. They include those paid in cash, living from payday to payday with no savings; single earners who don’t have as much money as dual income households; the elderly, who are least likely to know their credit score.
Pathfinder – your tool if you are refused credit
During Credit Awareness Week, we are also providing you with a toolkit called Pathfinder that takes you through simple steps for what to do next, when your application for a loan, mortgage or credit card has been refused.
If your application for a loan, credit card or mortgage, or even a mobile phone contract, has been declined, check out our toolkit for what to do next. Did you know you can challenge the lender’s decision?
We are working to convince lenders to give consumers better, clearer information, when they refuse a consumer’s application for a mortgage, loan or credit card.
Now you know what Credit Awareness Week about, get cracking on improving your credit score.
If you’ve already checked and improved your credit score, check out our Credit Score Myths Debunked. There are some classic clangers in there – don’t get caught out.