Christmas can really burn a hole in our pockets and it's so easy to buy gifts on credit cards and store cards and then pay them off at a later date, it's common and easily done but this can also be dangerous! It could leave you in a bit of trouble if your looking for a new home in 2020.

Buying or renting a new house can be stressful enough without nasty surprises such as a poor credit rating slowing things down, especially when it may be easy to improve if you know about it in advance.

When choosing to rent, letting agents and landlords want to know you are credible and can pay your rent on time. An easy way for them to check this is to look at your credit report. If you know your score in advance, you can plug any holes in your credit history, consolidate any debts and help make sure you get the home you want.

Homebuyers are subject to similar scrutiny. Each time you apply for a mortgage (or any other credit like a loan or credit card), it leaves a record on your credit report. Lenders and mortgage companies checking your report will worry if they see lots of credit applications in a short period of time because that makes them think you could be too dependent on credit. And that makes your credit score go down.

So checking your credit score in advance gives you a great idea of how lenders see your financial standing, and whether you need to explore your credit report in more detail.

For the full article, more on what exactly your credit score is and how to improve it, click the link below: