The Ideal Credit File

farhadhussain

what should an ideal credit file contain??
i mean how many credit accounts, limits, searches and other info such as address

allthingsconsidered2009

farhadhussain wrote: »

what should an ideal credit file contain??
i mean how many credit accounts, limits, searches and other info such as address

it should contain at least 3 active credit accounts including at least 1 credit card plus electoral roll currently plus at least 20 recent searches. plus not using all available credit

Moggles_2

Lenders like stability, so being at the same address and on the electoral roll for 10-15 years or more is ideal. Being with the same bank helps too.

Generally, older customers are seen as being more reliable and less of a risk to lend to.

If by searches you mean credit checks by lenders, these neither help nor hinder your ability to get credit, as long as you don't attract too many in a short space of time.

Other things being equal, it's better (credit score-wise) to have fewer cards with higher limits, than a clutch of cards with lowish limits.

In addition to the number of accounts in use, lenders look at the extent their credit limits have been utilised. Maxed out accounts make you look stretched, so it's wise to leave some headroom.;)

anotherpaul_2

allthingsconsidered2009 wrote: »

... plus at least 20 recent searches.

I assume you're not being serious?

allthingsconsidered2009

You assumed right Paul

Swans1912

I guess it depends on what your applying for?