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Nearly half of Brits have never checked their credit rating
17/04/2008 12:14:00
Nearly a half of consumers in the UK have never checked their credit rating, instead relying on horoscopes to get them through financial difficulty, a money expert has claimed.
Moneysupermarket.com stated that a credit-rating should be the must-have accessory of 2008 but only one in six will do so this year.
Tim Moss, head of debt at price comparison site moneysupermarket.com, said that "relying on Taurus to see what's in store for your credit card, loan, mortgage or mobile phone application is a load of bull".
Checking your credit report will highlight any tiny debts that might be there, but are having a huge impact on the success or failure of credit applications, he added.
According to the financial experts, an error on your report could typically lead to a mortgage being rejected, or a product being offered but at a much higher interest rate.
Previously, moneysupermarket.com advised that choosing the correct debit or credit card could save money when spending abroad.
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