What is a credit score?

A credit score is a number that represents your personal credit worthiness. If your credit score is high then you're considered someone who is likely to pay off debts on time and you'll find it easier to get credit. If it's low, then the opposite is thought to be true.

Where have you heard about credit scores?

It's hard to get away from credit scores once you're over 18. You'll have heard about them if you've ever tried to take out a loan, get a mortgage apply for a credit card or even just taken out a mobile phone contract.

What you need to know about credit scores.

There are specific companies that can work out your credit score for you. They do this by looking at your past credit history to try to predict what you'll do in the future. You can usually build up a good credit score by paying off any loans, such as credit cards and mortgage repayments on time.

Different lenders have different ways of calculating credit scores, but 700 and higher – on a scale of 300 to 850 – is generally considered healthy.

Find out more about credit scores.

You'll usually receive your credit score as part of a credit report, which will give you more information on your rating.