This morning UK charity National Numeracy and credit reporting agency Experian have announced that they will be collaborating on new research after a successful 2018 pilot study.
The study, which saw 1,700 Experian customers take part in the National Numeracy Challenge, compared the challenge scores against each participant’s credit score. It found that 63% (1,073 people) had a correlation between their numeracy score and their credit rating.. Those with weaker numeracy skills tended to have a lower credit score.
Credit scores are a crucial part of modern living and can mean the difference between getting approved or denied for anything from a mobile phone contract to a loan or mortgage.
National Numeracy Chief Executive, Mike Ellicock, said: “We are looking forward to working with Experian and partners to build upon this initial research to explore and understand this link. Most of us would benefit from getting better control of our finances and brushing up on our number skills would seem to be a good place to start.”
At Everyday Loans, we understand that not everyone is confident of their money management skills and that is why we offer a friendly, professional face-to-face service that affords our customers the time to talk about their particular financial circumstances without being judged. We always endeavour to help our customers get back on their financial feet and return to mainstream lending by helping them with their money management skills.
Our 65-strong branch network provides the face-to-face service that many other lenders do not. Our Customer Account Managers will always strive to help our customers’ finances however they can, by offering guidance and supporting every customer through their journey with us.
If you are interested in getting a loan with us, please head over to our online application page to receive a conditional decision in minutes.
An introduction to Everyday Loans
Everyday Loans in the UK’s largest specialist branch-based direct lender, with a rapidly expanding network of 65 branches. As a responsible lender, its expert customer account managers always try to meet customers face-to-face. They take time to understand their needs and financial situation on a human, personal level and are never judgemental and always confidential.
Conditional decisions are made within minutes of applying and the APR is determined on an individual level, dependent on each customer’s circumstances. Loan amounts range from £1,000 to £15,000 over an 18 to 60-month repayment period.
Everyday Loans has over 50,000 customers nationwide and that number is quickly growing.
It’s a trading style of Everyday Lending Limited and was established in 2006. It’s an independent lender owned by Non Standard Finance PLC. The company is committed to professional, responsible lending. It is authorised and regulated by the Financial Conduct Authority and a member of the Finance and Leasing Association.