The Martin Lewis Podcast Question Time: Cutting Credit Card Debt, Scrapping the State Pension and more…
Sep 15, 2025
Dive into a financial whirlwind as listener questions tackle credit scores and the mysteries of lending criteria. Discover the implications of possibly scrapping the state pension and strategies for managing credit card debt effectively. Learn about the importance of having a power of attorney in relationships, and get the lowdown on ISA rules, including how to transfer funds smoothly. Plus, enjoy a light-hearted debate on the merits of pineapple on pizza!
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Credit Scores Aren't Universal
- There is no single UK credit score that dictates lenders' decisions; each lender scores applicants differently using its own criteria.
- Credit reference agency scores are only one input and omit key data like income and affordability.
Affordability Often Beats Score
- Lenders use affordability assessments alongside credit history, and affordability often matters more for fixed loans.
- Credit cards rely heavily on credit-scoring for acceptance while personal loans hinge on income-based affordability.
Get Lasting Power Of Attorney
- Do set up lasting powers of attorney for both finances and health to avoid Court of Protection delays if you lose capacity.
- Acting now prevents locked bank accounts and severe stress for those who must manage your affairs.