The lack of a good credit score can lock people out of their dreams, everything from buying a home to funding a wedding.
Those who have a low score will be turned away from banks and building societies when applying for a mortgage, personal loan or car finance.
This means they are forced into more expensive and risky borrowing options, potentially including loan sharks – or even tapping up family and friends.
James Lynn, the chief executive of BuildMyCreditScore told Express.co.uk: “Having a good credit score opens up huge opportunities.
“But millions of people across the UK have a low score and thin credit file, leaving them with fewer fair and affordable options when it comes to securing credit, and part of the problem is a widespread lack of awareness about what can impact a credit score.”
Here Mr Lynn shares his ideas on what people can look at to boost their credit score: