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Credit Worthy

Updated: May 5, 2021

For the past three years, I learnt extensive knowledge around financial banking and risk exposure. I am now currently a bank manager for one of the leading banks in the UK. I have written this piece to educate young people; especially those on their way to University and others preparing for work life.

From personal experience, I feel the UK education system neglects to educate younger generations on their personal finances and by not doing this, many fall into serious debt by the age of 25. I guess that’s why I’m here, In this article, I will touch on a few tactical points and tips that you can use to secure the future that you want.

I thought I would first touch on what makes up your financial profile, what makes you a worthy candidate to bear debt. To understand, you need to how to interpret your credit score.

What’s A Credit Score?

A credit score is a rating that reflects your likelihood of paying back credit. The higher your credit rating, increases your possibilities of acquiring loans, Credit cards, mortgages, car finance. You need to monitor your credit score as most credit agencies will use your score to assess your ability of


Soft Credit Check

This is a glance at certain information on your credit report. Companies will perform a soft credit check to decide if you would be accepted for an application without running a full credit search. This does not affect your credit score or any further applications.

Hard Credit Check

This is when a company makes a complete search of your credit report. Each hard search performed is left on your credit file, so other companies are aware of other credit that you have applied for, affecting your credit score.

Top Tips

• Use eligibility checkers to see if you are eligible for the credit, before completing a full application.

• Do not apply for credit that is unrealistic.

• Reduce the amount of credit applications made within a short period of time.

Improving your credit score can be the result of you getting the best mortgage rates on the market. Take pride and do not let debt consume your life.

For any questions or suggestions on future topics to cover, do not hesitate to contact me via instagram: @_tbconsulting

Written by: Toni Barnaby

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