CCD

Meaning and Definition

CCD stands for Continuous Credit Development. It refers to a credit scoring system used by lenders in the UK to evaluate an individual's creditworthiness. CCD takes into account a person's credit history, including their borrowing and repayment behavior, to assess their ability to manage credit responsibly.

Why it is important to know

Understanding CCD is important for borrowers as it is one of the factors lenders consider when assessing credit applications. By evaluating an individual's credit history, CCD helps lenders determine the level of risk associated with lending money. A positive CCD score indicates responsible credit management, increasing the chances of loan approval and potentially favorable loan terms.