Your credit score will change over time. If you stay at the same address, pay your bills and show that you can afford debt, it will increase slowly. However, a hard earned credit score will drop quickly, if you miss payments for one of your accounts or apply for credit too often.

Lenders will typically refuse credit if you had adverse events such as a County Court Judgement (CCJ) or bankruptcies over a set value in the last three years. Similarly, recent events like missed payments or 3+ previous credit applications can reduce your credit score.

At Tabeo, to apply for credit won't impact your credit score. We use a soft search - even though you will see it in your report, lenders usually don't and where they do they can't use it - so it doesn't impact your ability to get credit.

Another factor in credit scores is account stability. It considers not just bank accounts, mortgages, loans and credit cards, it can include utilities, mobile phone contracts, broadband and more. Stability is attractive to lenders, but it's a minor point, and on its own is unlikely to scupper your acceptance chances. In the same way, your chances for credit are lower if you're not a homeowner. Renters and those living with their parents are seen as slightly more risky to lend than homeowners. However, it's unlikely that this along will sink your chances, but it could be the straw that breaks the camel's back.

You can check your credit score for free here: www.creditkarma.co.uk