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Improve Your Credit

IMPROVE YOUR CREDIT RATING! 5. 5. If you no longer use some of your credit cards then speak to the credit card company and cancel the cards (Having too much 'spare' credit on your account isn't viewed as a good thing normally) If unsuccessful, look for a loan or credit card which is more suitable. Don't make lots of applications at once as this can portray desperation to the lenders. Remember that applications for mobile phone contracts and hire purchase all count as credit applications. 4. 4. If you can afford to, pay off any existing balances or at least maintain payments. If you can't afford repayments for your credit, speak to the lender and work out a repayment plan you can afford. If successful, make sure you make repayments on time until the balance is paid 3. 3. Make sure the report states you are on the electoral role. If you are not then register with your local council. This is essential. Once you have found a suitable card or loan; apply! 2. 2. Review the reports and make sure the debts are all your own and are registered with your correct name and address. Report any problems to the agency If you are seeking credit, apply for a loan that suits your credit rating. When you apply for a loan a 'credit search' is left on your record which impacts your credit rating, so applying for too many fantastic deals when you're unlikely to be accepted may make your credit record worse. Credit Appliction Tips If you have numbers you can give, the better your chances. home telephone number, put it on the application. The more contact 1. Order your credit reports from the credit reference Be honest about your existing credit. Remember, they will look at your credit report and so can tell when you're telling the truth. 1. agencies; and (there is usually a small one off fee for this) If your partner has a stronger financial position or better credit history; consider making a joint application. Experian and Equifax have online tools so you can get a rough idea of your credit rating. If you know someone who is happy to vouch for you, consider applying for a guarantor loan. This can improve your chances of being accepted dramatically and help improve your credit rating as you repay the loan. 4 FIRST STEPS GETTING CREDIT to Improve Your Credit Rating The Next Steps

Improve Your Credit

shared by AlexLeigh on Mar 09
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The process of improving your credit can sometimes be a tricky one. Here it's visualised in an easily digestible visual format. People often rush through 'how to' guides and miss the important poin...


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