Your credit report is important for your financial health. It affects your ability to borrow money, get credit cards, and even rent a home. Knowing how it works helps you manage it better.
What is a credit report?
A credit report shows your financial history, including loans, credit cards, and payment records. Credit agencies like TransUnion collect this information, and lenders use it to decide if they can trust you with credit.
How it affects you
Companies check your credit report when you:
- Apply for loans or mortgages – A good score improves your approval chances and lowers interest rates.
- Apply for a credit card – Your score affects eligibility and terms.
- Get a utility or phone contract – Some providers check your credit before offering services. Learn more about how we use your credit information.
Tips to improve your credit score
- Pay bills on time – Late payments can lower your score. Stay on top of your Affinity Water payments using My Account.
- Check your credit report regularly – Fix errors and understand your finances.
- Limit new credit applications – Too many requests can reduce your score.
- Keep credit use low - Don’t max out your credit cards.
- Register to vote - Being on the electoral roll helps verify your identity and can improve your score.
- Keep old credit accounts open – A long credit history can positively impact your score and keep your credit healthy.
How to check your credit report
You can check your credit report for free from agencies like TransUnion. Make sure your details are correct. If there’s a mistake, contact the credit agency to fix it. You can also set up alerts to monitor changes in your report.
For more on how Affinity Water handles your credit information, visit our privacy page.
Taking care of your credit report helps you make better financial decisions, stay informed and keep your credit healthy.