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Your potential lender will weigh up different details about your financial history.

What factors impact my credit score?

Secured Loans > Our Loans > Bad Credit Loans > Credit Rehab > What factors affect my credit score?

The main factor that decides your ability to borrow money, take out a personal loan, or to setup any kind of finance depends on your credit score or rating.

Your potential lender will weigh up different details about your financial history to calculate your credit score. It’s worth considering your spending habits, such as the amount of money you owe versus the amount of available credit you have, and how you’ve handled past payments. If you’ve always paid your monthly amounts by the due date, this will help your rating. If your history includes missed or late payments, this could lower your score. Public records are also checked for bankruptcy, judgements and collection items – all of which can cause your rating to dip.

The lender will take a look at your accounts too – and in this case less can be more. If you’ve opened multiple accounts in a short period of time, or have lots of accounts open and in use, this activity can lower your rating.

Credit scoring works by awarding points based on the information:

  • you provide on your application form
  • the lender may already have about you, based on previous accounts you have with them, and
  • on your credit report, which is held by one of three credit reference agencies – Experian, Equifax and Callcredit
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoWe are a member of the FLA (Finance and Leasing Association) and subscribe to its lending code.


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Our Address

Evolution Money,
9 Portland Street,
M1 3BE

Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 9 Portland Street, Manchester, M1 3BE. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

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Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

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Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

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