Co-operative: Poor credit history is 'good indicator'

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Co-operative: Poor credit history is 'good indicator'

Having a particularly poor credit history gives a good idea of that person's future financial behaviour, according to The Co-operative Bank.

Andy Hammerton, spokesperson for the bank, made the comments in explanation of how applications for career development loans are assessed.

If an applicant with a "very, very poor" credit history applies for such a loan, Mr Hammerton claimed that The Co-operative Bank would be unlikely to accept them, as they have to be credit scored and the bank needs to act as a "responsible lender".

"A credit score in the past is usually a good indication of what's going to happen in the future, so if somebody's been a poor credit risk previously, just because they're taking a course doesn't necessarily mean they're going to be a sound credit risk in the future," he said.

In 1992, The Co-operative Bank became the first bank in the world to operate a customer-led ethical policy.

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