The Ideal Credit File

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

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  • 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
    Moggles_2 Posts: 6,097 Forumite
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    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.;)
    People who don't know their rights, don't actually have those rights.
  • anotherpaul_2
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    ... plus at least 20 recent searches.
    I assume you're not being serious?
  • You assumed right Paul
  • Swans1912
    Swans1912 Posts: 1,658 Forumite
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    I guess it depends on what your applying for?
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