Registering to vote in the EU referendum 'will boost your credit rating'

'When you apply for credit, the lender isn’t just checking your past credit history'

A polling card and voting guide for the 2016 EU referendum (PA)

Tonight, the deadline passes to register to vote in the EU referendum, and if you don’t act now you will lose the chance to have your say.

There are many excellent reasons to register, whether that’s because it is a decision that will affect the lives of your children and grandchildren or the fact that thousands of people died for your right to do vote.

But there is also a reason which even the most disillusioned voter can get on board with – getting on the electoral register could do wonders for your credit rating.

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According to MoneySavingExpert.com, “if you’re not on the electoral roll, it’s unlikely you’ll get any credit, so sign up immediately”.

The reason behind this is that credit reference agencies are able to access the full electoral register, which you will be added to and cannot opt out of once you register to vote.

That’s different to the “edited” electoral register, which many people ask to be taken off because it is sometimes sold on to be used for marketing purposes.

The electoral roll can be a key factor in how your credit score is calculated – even if a credit reference agency has told you you’ve got a perfect score without being on it.

And even when it isn’t used as a factor, not being on the roll will cause delays because lenders often use it to help check your address and personal details.

Helen Saxon, chief product analyst at MoneySavingExpert.com, told The Independent: “When you apply for credit, the lender isn’t just checking your past credit history. It’s also checking you are who you say you are – and the easiest way to check this is if you’re registered on the electoral roll.

“So, while the most important reason to get on the electoral roll is so you can have your say in the EU referendum, you could also find that it boosts your credit chances too.”

The EU referendum debate has so far been characterised by bias, distortion and exaggeration. So until 23 June we we’re running a series of question and answer features that explain the most important issues in a detailed, dispassionate way to help inform your decision.

What is Brexit and why are we having an EU referendum?

Will we gain or lose rights by leaving the European Union?

What will happen to immigration if there's Brexit?

Will Brexit make the UK more or less safe?

Will the UK benefit from being released from EU laws?

Will leaving the EU save taxpayers money and mean more money for the NHS?

What will Brexit do to UK trade?

How Brexit will affect British tourism

What will Brexit mean for British tourists booking holidays in the EU?

Will Brexit help or damage the environment?

Will Brexit mean that Europeans have to leave the UK?

What will Brexit mean for British expats?