Improve your credit rating
Trying to Improve your credit rating is important because lenders use it to decide whether it’s a good idea to lend you money or not. The information is compiled from your repayment history on things like loans, credit cards and mortgages.
You may have a poor rating because you have missed some repayments but you can also have a poor rating simply because you have never had any loans or credit cards. You can look at your own information: for free on Noddle or you can pay a company like Experian.
Improve your credit rating shortlist
There are a few easy things you can do to improve your credit rating:
- Make sure your name is on the electoral register (visit www.aboutmyvote.co.uk)
- Pay off existing debts
- Close unused credit cards
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