Motor finance broker Creditplus has launched
an online credit-rating tool to help consumers assess the likely
level of their credit rating.
The tool
involves 15 simple questions after which the consumer can get a
free assessment of their rating – low, fair, good or excellent –
without entering personal details or having their credit file
checked.
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Creditplus created the rating guide to help
people who are unaware of their credit rating, or what issues
affect it, a position that can mean consumers often don’t know if
they are getting a fair credit deal, said Shaun Armstrong, managing
director of Creditplus.
“Everyday we talk to hundreds of people who
are unsure of their credit rating. This leaves consumers feeling
exposed as they do not understand what level of credit they should
be able to obtain,” he said.
“We have used our years of experience in the
car finance market to build a tool that looks at the vital issues
that make up a credit rating, just as a lender would.”
Armstrong added that although the tool has
been designed predominantly for car finance, users will also be
able to understand their probable credit rating for other products
such as personal loans.
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By GlobalData
