Improve your credit score
Your credit score is very important to keep an eye on as this reflects your reputation to creditors and other such companies. If for example you applied for a loan and your credit score was low you may get declined that loan.
The main situations that cause you a low score rating are when you have missed a payment on for example – loan, mortgage, council tax, credit card bill, etc.. Having a missed payment will show up on your record that you have missed payments which will cause a mark on your credit score and this will let creditors know that you may be vulnerable to not paying them if they give you a loan.
A good way to Improve Credit Score is to clear up any bad marks on your report and settle any debts or late payments. Other ways to improve your score are to:
1) Register yourself on the electorial role
2) Get a copy of your report and make sure all your details are correct
3) Pay all your bills on time, especially your direct debits
4) If you can pay off any outstanding debt as this will bring down your score greatly
5) If you have loads of credit cards, try and transfer the balance onto 1 card and close down your other cards
6) Beware of any credit repair scams on the market
7) If you have several loans you could try a debt consolidation loan and transfer all your loans to one company
8.) Try to keep your accounts open for as long as possible as this shows you are a long and trusted customer
Its very important to check your credit report as soon as possible and make sure all the data about you is correct, as there could be a mistake that is causing you the low score. If you find an error you can dispute this with the company who has made the mistake and get the mark taken off.
There are many websites that offer the credit reporting feature, simply do a search on the internet you can get a copy of your report for £5
