How can you improve your credit rating?

A poor credit rating can often mean that you get turned down for credit or that certain types of credit are not available to you. Being turned down for credit can be both upsetting and embarrassing. It can also be baffling as it may well be the first time you realise that there could be a problem with your credit rating.

There are things you can do to improve your credit rating - use our five-point plan to ensure your credit report helps you to achieve the best possible credit rating.

  1. Make sure you are on the Electoral Roll at your current address. If necessary register online at www.rollingregistration.co.uk or contact your local authority directly.
  2. Make sure you always make at least the minimum monthly payment. If you miss a payment, it will be registered on your credit file and used as an indication of poor credit history.
  3. Check to see any settled accounts have been recorded properly. If they haven't then contact the organisation in question and ask them to amend the record accordingly.
  4. Don't keep applying for credit if you've been previously refused. If you continue to apply, and keep getting refused, you will leave lots of credit search footprints on your file, which will suggest to future lenders that you are financially over-committed.
  5. Ensure that any paid off County Court Judgments are marked as 'satisfied'. All certificates should be requested from the County Court who issued the judgment and forwarded to the three credit reference agencies, Callcredit, Equifax and Experian.

See your Credit Report