We’ve teamed with Canopy to help our customers at Bunch who may be applying for their first mortgage in the next few years. Using Canopy’s credit building subscription, CanopyGrow, you can boost your credit score in order to aid the difficult process of being a first time home buyer. We are currently offering this for FREE on all Unlimited Energy Packages.
What is a credit score?
A credit score is a numerical calculation based on the information in your credit report. Your credit score is used by lenders to determine your creditworthiness. Your score will go up or down based on your payment history, account balances, new inquiries and a number of other factors. If you can boost your credit score now, your future self will thank you.
What is a credit report?
A credit report is a statement that contains information about your credit activity and current credit situation e.g paying a loan history and the status of your credit accounts.
What does credit history mean?
Your credit history is a record of how you repay your debts over a period of time. This is used to judge the risk of lending money to you.
What does a good credit score mean for me?
With an excellent credit score you are more likely to qualify for lower interest rates for car finance, personal loans and mortgages. You also are more likely to be accepted for premium cashback credit cards like American Express. According to Pave you could save up to £49,829 by boosting your credit score.
How can Bunch x CanopyGrow improve my credit score?
- Access your credit score and report regular bill payments to all 3 major Credit Rating Agencies (Experian Equifax, TransUnion)
- Get personalised tips on how you can improve your credit score and view detailed insights on what’s holding you back.
- Use Canopy’s Credit Score Simulator to create a plan of action and find out what you can do to maximise your overall financial health.
Six common credit score misconceptions…
Having a regular salary impacts your credit score ❌
Having a job impacts your credit score ❌
Staying with the same bank impacts your credit score ❌
Having money in a savings account impacts your credit score ❌
Having children impacts your credit score ❌
Staying with the same bank impacts your credit score ❌
Boosting your credit score may not be on top of your agenda right now but when it comes to applying for that first mortgage or applying for a loan or a car on finance, you’ll be pleased you thought about it!
We are currently offering CanopyGrow credit boosting for FREE with all our Unlimited Energy Packages.
Get a quote for Unlimited Energy now or speak to one of our friendly advisors.
