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Improving Your Credit Score

Date Published 21 April 2018

A good credit score is something that you should aim to have especially if you're hoping to be a home owner. Here are a few tips to help you achieve that.
• Keep a close eye on your credit card balance, pay your balance and keep it low. If you have multiple credit cards it may be worth consolidating them into one personal loan. You're best having one or two cards that you use for everything and making sure that you keep the balances down on them.
• It's incredibly important that you pay your bills on time each month. This is such a simple task but it's the best way to ensure that your credit score stays high as any missed payments or defaults will affect it.
• You should check over your credit score occasionally to make sure that there are no mistakes on there. If you were to find something that you think shouldn't be there then you should set about having it fixed.
• Checking your credit score couldn't be easier and there are many different free websites you can use to access it.
• Make sure you're on the electoral roll at your correct address as this can make a huge difference to your credit score.
• If you are currently or have been connected to someone with poor credit through a joint account or something like that then their credit can have an adverse effect on yours so disconnect yourself from them.
• Try & eliminate any outstanding debt that you have if you can. Paying all debts means that your credit report should be looking nice & healthy.
• You should stay in the same address as long as you can as multiple addresses in a short time can look bad on your credit file.
• If you have no credit history that can also be a negative thing. Building credit is important so even if you get a credit card (making sure you pay the balance each month) that will help your file.
• If you have any unused accounts you should make sure to close them down.
• Don't apply for credit too close together as it can seem desperate.