There are a number of things that can have a negative impact on credit reports, for example if you have applied for lots of credit cards, loans or credit products within a relatively short period of time. It is better to try to spread out your credit applications and investigate any credit refusal before applying elsewhere.
If you choose to use a credit repair company, make sure you do your research first as you may be able to resolve your situation alone.
You should try to avoid applying for additional credit if you are already struggling to repay existing credit, as this is unlikely to help your application. If you are struggling with finances it would be advisable to seek a debt solution that could help you get back on track.
When it comes to credit reports there are lots of myths, such as blacklisting. There is no such thing as a credit blacklist, as credit report information is completely factual and lenders assess it based on their own policies.
Some people also believe that checking your own report can damage your credit score but this is untrue. Only the searches that are registered when you apply for credit can be used to help calculate credit scores.
Baines and Ernst Ltd