Improve My Credit Rating


The first thing you need to do in order to improve your credit rating is to check how your credit rating currently looks. You can do this with any (preferably all of) of the 3 UK credit reference agencies (Callcredit, Equifax & Experian). For your convenience, we have provided links to obtain your credit rating to the right of this page.

You need to check to ensure that your credit report is up-to-date and reflects your current circumstances. If anything on your credit report needs updating, tell the credit reference agencies and they will investigate matters for you. If you put in the time and effort, you can work towards achieving a perfect credit score.

Manage Credit Accounts Effectively & Don’t Let Debts Pile Up
Make your repayments on time – this shows potential lenders that you are likely to meet future repayments. The people with the best credit scores are often the ones that have more than one credit account, who always pay on time. Although having more than one credit account can be a good thing, make sure that you are not leaving yourself over exposed. Only hold credit accounts with a combined value that is manageable to you. These days many lenders share white credit data on you. This data indicates the value of each of your credit accounts. If you have a high value of credit available to you, lenders will question why you are applying for even more credit - you will be seen as a high credit risk to them.

If you are already in debt, speak to your creditors and work out payment plans to settle them as early as possible. Details of your debts stay on your credit file for 6 years (12 years for mortgages), so settling them quickly demonstrates that you are managing your credit responsibly. Simply moving debt around will not do you any favours - it does need to be paid.

Register To Vote - Add Your Details To The Electoral Roll
Lenders check the electoral roll as a precaution against fraud, to ensure that you are who you say you are and live at the address you have given. If your name doesn't appear, lenders may not be able to confirm that you live at your address, so you could face ID checks or even rejection.

Protect Your Identity
If you notice something surprising on your credit report, such as a loan application you did not make, you could be a victim of identity fraud. Inform the creditor in question, as well as the credit reference agencies. They will help to investigate the matter and will offer you help and advice. A good way of protecting your identity from fraud is to use a personal credit monitoring service.

Don't Leave Unnecessary Footprints With Credit Applications
When shopping around for credit, ask companies for a quotation before making a formal application. Lenders may interpret an abnormal number of searches on your credit file as indicating that you have applied for an unmanageable level of credit and that you possess a high level of credit risk. They may even suspect fraud. If you do need to open more than one credit account, it is best to leave a period of time - ideally 6 months between each application.

Only Apply For Credit Suitable To Your Means
If you do go down the route of making a full credit application, rather than using a quotation search, you should make sure that the source of credit is suitable to your means. If you know you have a low credit score, it is unlikely that you will get approved for prime sources of credit. Any such application will likely end in disapproval, which can in turn affect your credit score (it's another footprint on your credit file, which you really don't need).

Tell The Truth
Don’t lie or fudge the truth on credit application forms. Lenders find out and any inaccuracies on your credit application will tell against you and cause difficulties in future.

There Is No Quick Fix To Improve Your Credit Rating
Despite the claims of many credit repair companies, there really is no quick fix to improving your credit rating. There are no hidden secrets or methods to boosting your credit score.

Think about it, if there were such secrets, do you not think that they would be spread all over the internet for free by now, rather than you having to fork out a fee for their guides or credit rating repair services? Just look at the way the information on reclaiming bank charges made it's way across the internet. If those secrets did exist, everyone would have perfect credit ratings by now!

Order from Equifax

Want to find out your credit rating? Use the links below to place your order with Experian & Equifax:

Experian Credit Rating FREE CreditExpert Credit Report From Experian. Discover Experian Credit Reports!

Equifax Credit Rating Order Your Equifax Credit Rating and view a copy of your Equifax Credit Report Find Out Your Equifax Credit Rating!

The Credit Agency UK LEARN more about Credit Reports, the way lenders use them and how to Improve Your Credit Score: Personal Credit Report Articles!