From registering to voting and direct debit: six steps to improve your creditworthiness
Want to improve your credit score so you can access better loan terms?
Having a good rating is important if you want to take out a mortgage or credit card.
Improve your prospects by following these top tips.
CHECK YOUR REPORT: There are three main credit institutions: Experian, Equifax and TransUnion.
You can check your report for free with Experian, while your Equifax and TransUnion files can be viewed for free through ClearScore and Credit Karma.
Check all three agencies as your score may vary.
READ MORE MONEY SAVING TIPS
REGISTER TO VOTE: Being on the voters' list can increase your score as it helps banks verify your identity.
With Experian it can increase your rating by 50 points.
It only takes a few minutes to register.
Visit gov.uk to find out how.
GET AN INSTANT COLLECTION: If you pay a bill manually every month, you may want to consider setting up a direct debit.
It shows that you are financially reliable and eliminates the risk of forgetting to make a payment, which can hurt your credit score.
CLEAN UP YOUR CREDIT: Keep credit card balances at no more than 30 percent of the limit to show lenders that you are not overly reliant on credit.
Experian's James Jones says you should use savings to reduce balances and avoid applying for multiple deals at once, as this will make you look financially desperate.
CHECK FOR ERRORS: Court judgments or credit defaults can lower your score by 250-350 points.
If someone has been wrongly registered, for example if you have missed a bill when you move, you can dispute this with the lender or in court.
Companies can also make mistakes.
If you discover anything in your report that is incorrect, request that it be removed.
BREAK FINANCIAL TIES: Joint accounts show up on your credit report and link you in the eyes of lenders.
This means the other person's credit history can affect your score.
If they are financially irresponsible, it is best to cut ties.
- All prices on the page are correct at the time of going to press. Offers and offers subject to availability.
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