Credit Score

Wizzardman

I am about to apply for a loan. I have checked my credit score and it says it's good. But what is good? can anyone tell me what a good score is and how high can it go?

Tixy

A credit score given to you by one of the credit reference agencies will not tell you whether a bank will give you a loan.

You need to consider what is on your full credit report that a potential lender will see (past credit history conduct, total credit, total existing debt) and all the other information they will need to know from you (how much you earn, whether you are employed or self-employed, how long you have lived at your current address, how long you have been in your current job etc).

Its possible to have an 'excellent' credit 'score' but still be declined for credit.
The credit score does not take into account whether you can afford a loan (or any other credit product) as the credit reference agencies do not know your income and outgoings - this is one of the most fundamental things a bank would consider.