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    • See all current accounts

    Savings accounts

    • Fixed Rate Cash ISA
    • Online Bonus Saver
    • Regular Savings Account
    • Loyalty Cash ISA
    • Fixed Rate Savings Account
    • Children’s Savings Account
    • Easy access savings accounts
    • Compare savings accounts
    • See all savings accounts

    International services

    • Global Money Account
    • Using your card outside the UK
    • Travel Money
    • International payments
    • Currency Account
    • Opening an account outside the UK
    • Open a UK account
    • See all international services

    Already banking with us?

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    • Money worries
    • Manage your account
    • Mobile banking
    • Online banking
    • Overdrafts
    • Overdraft calculator
    • Overdraft repayment calculator
  • Borrowing Short & long-term

    Credit cards

    • Balance transfer credit cards
    • Purchase cards
    • Rewards cards
    • Credit building cards
    • Premier cards
    • Ways to borrow
    • Credit card eligibility checker
    • See all credit cards

    Loans

    • Personal Loan
    • Premier Loan
    • Car Loan
    • Home Improvement Loan
    • Top up your loan
    • Ways to borrow
    • Debt Consolidation Loan
    • HSBC Flexipay
    • See all loans

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    • Remortgage to HSBC
    • First-time buyers
    • Get a decision in principle
    • Moving home
    • Mortgage rates
    • Mortgage calculators
    • Continue my application

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    • Manage your existing mortgage
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    • Investing for retirement

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    • Investment goals
    • Your financial action plan
    • Investment calculator
    • Children’s education calculator
    • Wealth Insights

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    • How to use investment goals
    • How to use our Global Investment Centre
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    • Child Trust Fund
    • Manage your Flexible Retirement Account
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    • Contents Insurance
    • Travel Insurance
    • Small Business Insurance
    • See all insurance

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    • Critical Illness Cover
    • Income Protection Insurance
    • Protection advice
    • See all life insurance

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    • Home Insurance claims
    • Life Insurance claims
    • Travel Insurance claims
    • Aspects Insurance claims
    • Premier Travel Insurance claims

    Already insured by us?

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    • Life Insurance support
    • Premier Travel support
    • Aspects Insurance support
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    • Everyday budgeting
    • Managing debt
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    • Staying safe and secure
    • Learning about money

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    • Getting married
    • Planning for retirement
    • Buying your first home
    • Moving abroad
    • Going to uni

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    • Assisting someone with their money
    • Separation
    • Losing your job
    • Power of Attorney
    • Mental health and support
    • Tell us your support needs

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    • Mortgage payment support
    • Financial and domestic abuse
    • Managing your finances
    • Rising cost of living
    • Support for gambling
  • Help Service & security

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    • Ways to bank
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    • Set up or cancel a Direct Debit
    • Set up or cancel a standing order
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  1. HSBC UK 
  2. Financial fitness 
  3. 5 reasons to care about your credit score

5 reasons to care about your credit score

From getting a phone contract to buying a home – your credit score can affect your lifestyle and future plans.

Your credit score shows lenders how reliable you are at borrowing and repaying money.

Things like missed or late payments and continuously going into your overdraft can lower your credit rating. 

Here, we look at why it’s important to look after your credit score.

1. It can affect your chances of getting a credit card or loan

Whether it’s a credit card, student loan, or car finance, you may want to borrow money at some point.

A good score can help you get approved for credit, while a bad score can stop you from getting approved. 

Gym memberships and phone contracts are also types of credit agreements. Companies like these may also run a credit check before offering you their products or services.

2. It can impact the types of deals you’re offered

To get the most competitive credit card rates, you’ll need a good credit score.

If you have a poor credit score, you may find you're offered a higher interest rate or a smaller credit limit. This means it can cost you more to borrow money, and you may be limited in the amount you can borrow.

3. Employers may be able to see your credit history

Potential employers can't see your credit score when you apply for a job (as it contains personal information). But they can see a modified credit report with your consent.

A healthy credit report can work in your favour. But if you have a history of missed payments, you may be seen as a high-risk candidate, especially if the role involves managing money.

4. It can affect your ability to rent

When renting a property, the landlord may check your credit history as part of their screening process when choosing tenants. 

After all, they’re trusting you to pay rent on time, and they’ll want to see that you’re a reliable tenant. 

5. It can affect your ability to get a mortgage

Many people hope to buy their own place one day. But did you know your credit score can affect your mortgage application?

When you apply for a mortgage, you must supply documents, such as bank statements, to show lenders you can afford the repayments. However, to predict how you’ll manage the debt, they may look at your credit history too. 

If you have a poor credit score, lenders may decide you’re too much of a risk and not accept your mortgage application. 

Having a good credit score can bring you closer to owning your own home. 

How to improve your credit score

The good news is that small changes can bring your credit score up. 

Things like paying your bills on time and registering to vote can improve your score. Even checking your credit report to make sure there are no mistakes can help. 

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What next?

How to improve your credit score 

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  • What is a credit score? 

  • How to build your credit score as a student 

  • How to check your credit report 

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