Improving credit rating

Former Member

How can I improve my credit rating?

Former Member

~kaz~ wrote:

How can I improve my credit rating?

make sure you are on the electoral roll
check your address doesn't have previous occupants debts
using a credit card sensibly improves your rating.

Former Member

Cancel any old credit/store cards you have paid off and dont use anymore.
If you must have a credit card use it sensibly, pay it off in time and in full where possible.
Get a copy of your credit file and chexk for any inaccuracies.

Former Member

also make sure all your bank statements etc point to the same address as electoral roll, and contrary to freeallangel's post using several credit cards actively is actually the best way to improve your rating and build up a good profile, but the key is never missing a payment and not getting stung on the interest....

Former Member

Missing the odd payment isn't a bad thing either- that's how they make their profits. It's only a problem if you're doing it every week.

Taking out credit and paying it back is how you improve your "rating"- there isn't such a thing as a "rating", the credit reference agencies simply use the information they hold against a set of criteria that the lender provides. Most lenders will use information they hold about you more than information provided by credit reference agencies.

Former Member

How do you get on the electroal roll?

Former Member

If you are registered to vote then you are on the electoral roll.

If you are not registered to vote, get in touch with your council who will be able to help you.