A credit file is the fairest way of assessing the level of risk that customers represent when applying for mortgages and insurance. It will indicate their reliability when it comes to paying bills and using financial products and is one of the best indicators available.
Along with mortgage lenders, even insurers are now starting to give better rates to customers who have a good credit rating.
Read on for five easy ways to boost your credit score –
- Make sure you appear on the voters roll – it is now compulsory to not register to vote and carries a large fine.
- Know your credit every time you apply, and importantly space out your applications.
- Play your cards right by not holding too many. Cancel any cards that you no longer use.
- Build up your reputation. Make sure that you have a history of managing credit responsibly by staying within overdraft limits and making certain you never miss a payment on your credit cards, loans and utility bills.
- Stick to a fixed telephone line. When you apply for any credit, make sure you use your landline number as a contact because where credit applications are concerned this gives a sense of stability and reliability to the lender.
And a final piece of advice – Avoiding credit altogether will not give you a positive credit rating, however, don’t try to remedy this by applying for lots of different products at once.
If you would like to find out more information regarding your credit score or learn more about our products and services, please contact our Top House team today.