People who have been turned down for credit should check their credit report before applying to another lender, a credit company says.

MyCallcredit says that different lenders favour different credit profiles and so people should familarise themselves with their credit history before approaching lenders.

Positive credit markers include having lived at one address, having worked in one job and being registered on the electoral roll for a number of years. Those who own their own homes and pay existing credit bills on time will also fare well.

Other influencing factors include the number of existing credit facilities and the income to debt ration. The lower these are, the more favorably lenders will look upon a new customer.
But those with county court judgments or a large number of searches performed on their credit file could find it problematic to secure a good deal.

Alison Nicholson, MyCallcredit director, said: "The best way to get an idea of how a lender will view you is to look at your credit file and obtain a credit score. If your credit file is clean and your credit score high then you should be able to choose the best deals on the market when you want to borrow.

"If you have a couple of negative markers on your credit file you might not qualify for the very best deals but it doesn’t mean you will only qualify for the worst.

"But if you have an adverse credit history and your credit score is low this could be an indicator that you can’t afford more borrowing and need to get your existing debts in order before you apply for any further credit."