Why payment history matters

Your repayment history on credit agreements is taken into account by a lender when considering you for a loan.

A credit report details all of credit accounts you’ve had over the last six years. This includes mobile phones, catalogues and some utility bills.

Each account displays numbers showing if you ever fell into arrears. For example, ‘1’ means you’ve missed one payment and ‘5’ means you’ve missed 5 consecutive payments. Conversely, a zero means you’re up to date.

Read more about missed payments