Who makes lending decisions?

• A lot of people think that the credit reference agency makes lending decisions.

  It is actually the company who will be giving you credit that decides if they will give it to you.

  Each company may calculate your credit score in a slightly different way, or have different criteria for what kind of consumer they want to lend to.

  This can also change within companies on a product to product basis.

  The role of the credit reference agency is to provide information to the lender about your past and present credit agreements and other relevant details, such as if you are registered to vote, previous applications, if you have any county court judgments (CCJs) etc. The lender will then use this information, along with details you provide on your application form, to decide if they will give you credit

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  See Also:

  1. How do I dispute incorrect information on my credit report?
  2. How often is my credit report updated?
  3. What is a Credit Score / credit rating?
  4. What is a credit reference agency?
  5. How often is Credit Account Information Updated?