’Almost a third of Brits have never checked credit rating'

The following is taken from an article from The Intermediary on 9th January 2023:

’Almost a third of Brits have never checked credit rating

Almost a third (29%) of Brits have never checked their credit rating, according to research from NerdWallet.

NerWallet’s Household Debt Report found that only 16% have checked their rating within the past month and just 10% have checked in the past six to nine months.

A lot of adults may avoid regularly checking their credit score due to fearing what they might discover, however the report found that younger generations are less likely to regularly check their credit score compared to older generations.

Only 8% of Gen Z (aged 18-24) and 9% of millennials (aged 25-34) have checked within the last month compared to 21% of adults aged 55-64.

Additionally, it was revealed that men are less likely than women to regularly check their credit rating with 33% admitting they’ve never checked compared to 25% of women.’

We at Adept think you should consider checking your credit file (not just your credit score) every 3-4 months, so that you aren’t faced with any nasty surprises when you come to take out any new form of credit – be it for a mortgage or just perhaps a mobile phone. Please be aware that some providers charge a fee for looking at your credit file, whilst others provide the service free of charge, so choose your provider wisely. If you’re not sure what to check for, or need some help, then please contact us at Adept Private Finance.

Tel (Mark) – 07973 502949

Tel (Andrew) – 07971 519735

Adept Private Finance is a trading style of I-Property Finance Limited, which is authorised and regulated by the Financial Conduct Authority. Our Financial Register Number is 734423.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE