by : Angelo Drew

The prime concern of any lender is to ensure that the amount loaned is received back with interest. When lenders give you the money on the basis of your income and no other security is involved, your credit score becomes an important consideration.

Your credit score is a key to your financial life, affecting the rates you get for loans, mortgages, credit cards, etc. If you have a less than perfect credit record, improving it may save you thousands of pounds in interest.

Nobody likes to be declined a loan, credit card or any other form of credit. In case of unsecured loans, your credit score assumes greater significance. So, if you want
, do take care that you have a perfect credit score. Have you ever been told by a lender that the reason for refusing you a loan was your credit score? If yes, you should avoid the following top credit score killers:

Absent from the Electoral Roll - You should be on the electoral roll, at the address mentioned in the application. Otherwise, there is a high probability of your unsecured loans application being rejected.

Past credit record - Past credit history counts for about one-third of your credit score. It includes CCJs, defaults, missed and late payments. While your negative entries will stay on your credit file for 6 years, the impact of missed and late payments diminishes with the passage of time.

New Bank account - If you are with a bank for a number of years, it invites maximum points from the lenders. Absence of bank account will be even more detrimental to your credit score.

Several credit applications - Every application and its rejection is recorded on your credit file. Try to avoid more than two applications in a month.

Avoiding the above credit killers increases your chances of getting cheap unsecured loans.