Can you explain what a credit history is?
I just recieved my report from CreditExpert.co.uk and it says the following:
Thank you for purchasing your Experian Credit Score!
A score between 960 and 999 puts you into the Excellent category. This is the score that the rest of the population would like to reach.
It indicates that you have always made payments on time and probably have no arrears. This type of credit history is an asset that can help you to the deals you want and means you should pay lower interest rates than people with a poorer credit status.
To maintain your excellent rating, you should check your credit report regularly to make sure that it remains accurate and up to date – you can see it at the Credit report centre.
Your Experian Credit Score changes as your circumstances change. Generally a score more than three months old no longer represents your current position, so it is a good idea to order it regularly if you want to monitor your credit status.
What your score means to lenders
Your Risk Profile
Your score of 999 puts you into the Excellent category
Your score is above average – 71% of people have a score lower than Excellent
View the factors affecting my score
Your Experian Credit Score was
On January 27, 2009
The risk you present to a lender
Credit scores are designed to help lenders to assess the risk that you will not repay what you owe them, reliably and promptly, by comparing your situation and credit history with databases showing how other people have managed their repayments in the past.
This score suggests you are a very low risk borrower – most lenders would expect very few people in this category to experience serious problems with repaying credit.
Factors that are having a negative effect on your score
* There are no negative factors currently affecting your score.
Factors that are having a positive effect on your score
* You make all your repayments on time and in full – no accounts have been paid late in the past six months
* You are on the electoral roll (registered to vote) at your current address
* The outstanding balance on your credit accounts (excluding your mortgage) is low
* You don’t have any county court judgments and you have not been declared bankrupt in the last six years
Can you tell me, is this any good?