Dont stress, the very fact you will get universal credit will not impact your credit directly rating. However it may impact any applications you create for credit such as for instance paydayloansmissouri.net/ mortgages, loans or perhaps a brand new bank card. Continue reading to learn more.
What exactly is Universal Credit?
Universal Credit is an advantage to aid you if youre of working age as well as on an income that is low away from work. It really is a benefit that is means-tested this means the Department for Work and Pensions (DWP) will evaluate your circumstances to choose the amount of money you’ll want to live on and exactly how much Universal Credit you may need.
To be eligible for Universal Credit you really must be:
Exactly what does Universal Credit replace?
Universal Credit has changed these benefits:
Does Universal Credit affect credit history?
If you’re claiming Universal Credit it wont affect your credit history. Your credit history, or score, talks about your borrowing history, exactly what financial obligation you have got and whether you have got paid back the money you owe reliably.
Universal Credit forms section of your revenue so wouldnt come in your credit rating or influence your credit history.