A credit score is a number that reflects the information in your credit file. It provides an indication of how favourably lenders are likely to view you. As a rule, you can assume that the higher the score, the better it is.

When lenders determine whether to accept your application, they’ll assess the risk that you won’t pay them back based on the information they receive from credit reference agencies. This risk assessment will vary between different lenders – some are more willing to lend to higher risk borrowers than others. This assessment, alongside application information, fraud data and any past dealings you have had with the lender, are used to determine whether they will accept your application.

It is important to note that while your credit score is an indicator of your chances of being accepted, it does not necessarily tell the whole story. Even with a perfect credit score, you may still find that your application is rejected.