Bad credit effecting 6 million Brits
07/05/2015
People in the UK with a history of bad credit are being excluded from important parts of everyday life, according to research from. Debt Advisory Centre.
People are missing out on securing a home, opening a bank account, getting car insurance or even being offered a mobile phone contract. A total of 2.7 million people in Britain claim that they have been rejected for a mobile phone contract in the past year. Just over 2 million people have been turned down for a rental agreement due to their credit history and 1.7 million were unable to get a mortgage.
Even more worryingly, having poor credit has prevented up to 1 million people from securing a job, as Many employers now run credit checks on future employees to reduce the risk of fraud and can reject applicants with credit problems.
Three quarters of those turned down have been put off of applying for other products.
Melanie Taylor, spokeswoman for Debt Advisory Centre, says:
“Credit scores aren’t just relevant for those taking out a credit card or loan, they can have an enormous impact on your day-to-day life. Millions of people now find themselves excluded from doing important things in life, like getting a home, taking a job or just getting a mobile phone."
“It is really important that everyone checks their credit score regularly through one of the main credit reference agencies, so they can see what information is being held and they can take the necessary steps to improve their credit history as soon as possible.”
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