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Q about credit rating
smarties84
Posts: 711 Forumite
Hello there, i just did the quick credit rating thing on MSE and basically it said i am "high risk". I have a fair few credit cards and store cards, some are paid off but not closed. Some are open with balances still to pay. I have been in my house less than a year and i am wondering would my credit rating improve if i closed the accounts that have been paid off and then work on paying the others off one by one? Is that why i am high risk because i have so many cards etc?
Thanks Smarties x
Thanks Smarties x
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Comments
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Can anyone help?0
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That would seem like a reasonable plan of attack smarties....also check you're on the electoral register at your address, and also get hold of your credit report to check for any issues...take it from there.........Gettin' There, Wherever There is......
I have a dodgy "i" key, so ignore spelling errors due to "i" issues, ...I blame Apple
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I found that when I settled a credit account (my car loan and Halifax credit card for example) my credit score with Credit Expert went up by 100 or more each time.
(This is the point at which someone will cut in and say the credit score is irrelevant and individual lenders all have their own lending criteria etc etc!)Almost debt-free, but certainly even with the Banks!0 -
get rid of the store cards first as these will have the most horrendous APRs.If you've have not made a mistake, you've made nothing0
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Bless you all for replying, shall try my best. Just found out im going to be made redundant.0
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smarties84 wrote: »Bless you all for replying, shall try my best. Just found out im going to be made redundant.
That's terrible news - do you have long left? :eek:0 -
I have just done the free trial on creditexpert.co.uk and then paid the extra £5.95 to see what my score was that lenders look at and I am thrilled my score is 999 !!! Yipeeeee0
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Thankfully i have until Feb to find something else but my hours will be cut after xmas.
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p.s I close all credit cards, accounts that I am not using..0
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PENNY thats great, i bet mine isn't like that lol0
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