What is a credit rating?
A credit rating is a number that charts your credit file history. It is also referred to as a credit score. When reviewing a credit report, many credit providers use this number as a way of determining whether they will approve a loan application. A credit rating is affected by a number of factors, including but not limited to the profile of the individual, the number of credit enquiries on their file and the number and severity of negative listings on their credit report, such as defaults or judgements.