Consider your credit rating to be like your financial fingerprint. Your rating (and your credit report) are a record of your capacity to consistently meet your financial obligations. Essentially, your rating and report is a measure of the level of risk associated with doing ‘business’ with you. That ‘business’ might include personal, home and car loans, credit cards, store credit, mobile phone and other utilities. Managing your credit rating and doing regular checks of your credit report ensure that you will find it easier, and in some instances get charged a better interest rate (where relevant). Your rating forms the foundation of your capacity to build financial independence, your ability to access credit and your financial wellbeing.
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