Banks, financial institutions and lenders are companies which may lend you money.
They use your credit report to decide whether to give you credit. Every bank and financial institution has their own way to calculate your credit score, but they use the information that’s included in your most accurate credit report as supplied by the credit reference agencies.
We at ClearScore work with Equifax, one of the three UK credit reference agencies. Equifax provide us with your credit report and score, giving you a really good indication of how a bank or financial institution may score you.
Examples of banks/financial institutions include:
- Banks & Building Societies
- Mortgage lenders
- Credit card providers
- Loan providers
- Utility companies - gas, electricity
- Mobile phone contract providers
- Broadband, TV and phone line package providers
- Insurance Companies - house, car, life