Over 25 Million People Across the UK Trapped in the Credit Gap

Over 25 Million People Across the UK Trapped in the Credit Gap PR Newswire LONDON, December 19, 2012 LONDON, December 19, 2012 /PRNewswire/ -- One in two* UK adults (57%) are at risk of being declined credit by mainstream lenders Seven in ten women (69%) and eight in ten (82%) 18-24 year olds are at risk of failing a typical credit check Three quarters of people (79%) do not know what their credit score is Of those who have been refused credit, 85% didn't bother to find out why One in two UK adults (57%) are currently at risk of being declined credit by mainstream lenders, according to 'Mind the Credit Gap' - a report which aims to better understand the creditworthiness of the UK population, commissioned by aqua credit cards. The research, which was based on consumers answering a typical industry credit check questionnaire, reveals that in general women and young people have less access to credit, with seven in ten (69%) women and eight in ten (82%) 18- 24yr olds failing to meet the criteria lenders typically look for. Mind the Credit Gap notes that people from all walks of life can find themselves at risk of being declined. Most obvious are those who don't have a credit history. This includes those who have recently moved to the UK or those who have never entered into a credit agreement before and therefore have no repayment records.