LONDON, August 12, 2015 /PRNewswire/ --
Every UK consumer, over the age of 18, with a bank account and any form of access to lines of credit - be it a credit card, a credit agreement, or a loan of some kind - has a credit score.
What is alarming is that not many UK consumers know that they have a credit score and that they can access it for free along with their credit report.
In our first release, we cited statistics from research conducted by Conlumino and Affinion International on how only 20% of the 2,002 UK consumers surveyed knew what their credit score was.
With this in mind, MyCreditMonitor has launched an awareness campaign, called What's Your Credit Score? and is rolling it out across its social media channels.
The idea behind this campaign is to make as many UK consumers as possible aware of what a credit score is, what their credit score is, how they can monitor it and also improve it.
Banks, building societies, retail businesses (that offer customers to make purchases on finance schemes), mortgage providers and even peer-to-peer lenders all use credit scores as a way to gauge the financial credibility of consumers applying for credit.
This makes the credit score an important three-digit value, because the higher the credit score of someone is, the more trustworthy they are likely to come across to lenders, when it comes to paying the money back.
Nathan Sloan, campaign manager at MyCreditMonitor, says: "The problem is that if you have any issues on your credit report and if you have a low credit score, it could cost you money when you wish to take out a credit card, a loan or a mortgage, for example.
If you improve your credit score, you can increase your chances of being successful with your credit applications in the future, especially when you need to borrow money for a long-term goal.
For more information, simply visit: http://www.mycreditmonitor.co.uk
Content Marketing Executive, MyCreditMonitor