Credit Rating Explained

The average family with a low credit rating spends an extra £1,170 a year on mobile contracts, utility bills and EVERYTHING purchased on finance

The BEST deals from mortgages and loans through to credit cards and broadband are saved for the people with the best credit rating

Learn what credit rating you have and if there are any issues FOR FREE

There are some QUICK AND SIMPLE ways to improve your credit rating and keep it ‘good’

The first thing to do is CHECK YOUR CREDIT RATING

Check there are no errors on your credit record, like incorrect addresses. If there are mistakes then CORRECT THEM by writing to the Credit Agency and asking them to change it

If errors aren’t corrected, you can ask for your comments to be shown on a Notice of Correction. This may cause delays but improve your chance of being accepted for credit

Take simple steps to improve your credit rating. Getting on the Electoral roll and cancelling old contracts are simple actions that can quickly improve your score

End financial associations with ex-partners. Whilst their own credit rating won’t impact yours, taking out a product jointly with them will

Applying for more than 4 forms of credit in a year can worsen your credit rating, so only apply for credit when you need it

There are credit cards available that will help you BUILD your credit rating

Be SMART. Make payments on time. If you are having problems, talk to your provider and agree a minimum payment. This is better than missing payments

Leave a comment