What is credit scoring?

Credit scoring is a system used by us and most major banks and finance companies to make decisions on customer applications for borrowing, eg loans, overdrafts, credit cards and mortgages.

This involves calculating a rating, or credit score, from the information you give in your application, including your age, job and existing financial commitments. Checks are also made with credit reference agencies to see if they hold any additional information about you that may influence our decision. The credit-reference agencies we use are Experian, Equifax and Callcredit.

If you're an existing customer, we may also look at the way you’ve managed your account or previous borrowing with us. If the overall credit score is high enough, we could give you the credit you've asked for.