Six million declined credit since 2010

Twelve per cent of adults in the UK have been turned down for credit in the last three years, research conducted by YouGov on behalf of has found.

The survey of more than 8,000 people found that 60 per cent had no idea what their credit score was and, of those who did know, a fifth were unsure about how to improve it.


  • 48 per cent or people were unaware that applying for short-term, high interest loans could damage their credit rating
  • 16 per cent admitted they have a poor credit rating.

Those with a poor credit rating:

  • 47 per cent of those with a poor credit rating are more likely to borrow money from friends and family
  • 21 per cent had taken a payday loan in the last three years.

Those who've been refused credit:

  • 55 per cent or people feel highly stressed as a result of being turned down for credit
  • 38 per cent said that stress has had a negative impact on their life or relationship. said the research showed that people in the UK are "continuing to take out finance without thinking about any long term impact it could cause on their credit history."

The price comparison site's head of credit cards, Nerys Lewis, said people should know their credit rating, understand how the system works and take advantage of ways to improve a poor score.

"With so many credit card providers keeping their best deal for customers with a near perfect credit rating, it's more important than ever to understand how credit rating works, and how you can use the knowledge to get the best deal."