Keeping track of everyday spending can help build credit score confidence when managing the wider picture of your finances (Picture: Getty Images) Are you the kind of person who knows when your bills get paid, the cost of your weekly shop, and the exact number of days until payday? If so, you’re already keeping a close eye on your money. But there’s one item on your money to-do list that can easily slip under the radar: checking your credit score. Credit scores can feel technical at first, but checking yours can be a useful way to understand your credit profile. You don’t need to be an expert to take that first look. With ClearScore, you can access your credit score and report for free, alongside handy personalised insights. A quick financial check can reveal useful information and help you make more confident decisions about borrowing (Picture: Getty Images) And if you sign up by September 30, you’ll be entered into a prize draw for the chance to win £5,000! So what exactly is a credit score, why does it matter, and what can it tell you? Knowing your number Your credit score is a number that represents how lenders view your past relationship with borrowing. A higher score suggests you have a strong credit history and are more likely to repay money you borrow in the future. This can increase your chances of being accepted for credit and accessing more competitive interest rates.  Understanding how lenders assess your financial history can provide useful context when considering future applications for credit (Picture: Getty Images) Credit reference agencies use your credit history to work out your credit score and produce your credit report.  Equifax – which ClearScore uses – provides a score out of 1,000, with 671 or above considered good and anything above 810 rated excellent.  Your credit report goes into more detail, including information about your credit accounts and payment history. By looking at both, you can start to understand what lies behind the number. Diving deeper   Once you’ve seen your score, it’s time to take a look through your report. If you’ve been rejected for credit, or you want to know how successful you might be before you apply, you can see the reasons that could influence a lender’s decision. Five easy ways to boost your credit score Even if your credit score isn’t the best, there are some straightforward ways to give it a boost.  1. Pay your bills on time: Set up direct debits so you never miss a payment for credit cards or household bills.  2. Register to vote: Getting on the UK electoral roll or electoral register lets credit reference agencies check your identity, making you look more reliable to lenders. 3. Update addresses: Lenders don’t like inconsistencies on your credit file, so it’s best to tell your credit provider if you move home as soon as you can. 4. Don’t withdraw cash on a credit card: Taking out cash on a credit card often isn’t looked favourably by lenders, so avoid it if you can.  5. Keep your credit utilisation low: While it varies between lenders and personal circumstances, keeping it below the 30 per cent (or even 20 per cent) mark is typically a good strategy to help protect your score. Have a look for any mistakes that can drag your score down unfairly, such as a payment incorrectly marked as missed, or a credit account that doesn’t belong to you. If something looks wrong, you can raise it with ClearScore’s data supplier, Equifax, and ask for it to be investigated and corrected if necessary. Reviewing your financial records regularly can help uncover discrepancies and highlight opportunities to strengthen your borrowing profile (Picture: Getty Images) Checking your credit report regularly lets you spot new activity on your file, including anything you may not recognise. In the unlikely event that you become a victim of identity fraud, this means you may be able to pick up on it quickly. Your report can also help you identify ways to improve your score and save money. And it’s a common misconception that having no credit cards or loans helps protect your credit score. Without any credit history, a lender has very little evidence to judge whether they can trust you to manage repayments. So even with what’s called a ‘thin file’, you can still access a report through ClearScore.  Make it personal  General money tips can be useful, but it helps to receive insights that are suited to your particular situation.  Alongside your free score and report, ClearScore provides personalised insights to help you better understand your financial position and make more informed decisions. Tailored financial information from ClearScore can make it easier to identify priorities and understand which aspects of your money need attention (Picture: Getty Images) That includes showing you where you’re doing well, highlighting areas to keep an eye on and flagging when action may be needed. Your credit report can feel confusing when you look at it for the first time. With these handy insights, you can work out where to begin and which areas to come back to in the future. An extra reason to get started Getting a better understanding of your finances is reason enough to join ClearScore – the chance to win £5,000 is just an added bonus! You don’t need to take out a credit card, loan or other financial product to enter.  So what are you waiting for? Click HERE to sign up to ClearScore and enter the draw.  UK, 18+, T&Cs apply. Valid for new users only. Sign up by September 30.