The only way to improve my score?

matt_ash

Hello everyone,
There are so many great tips and ideas on this site but I have a question that I can't seem to find the answer for anywhere.
I have a rough idea of credit scoring and how the system works but my question is what steps can I take to improve my score? I paid £10 to view my Experian file and it's terrible. I am taking positive action about my outstanding debts, slowly but surely paying them off but what happens then? As I understand it credit score won't improve once my debts are settled (although it will look better as 'settled' than 'outstanding') so how can I can my score on its way up?
I looked into credit cards as an option, I've fallen into the trap of cards before so I know I have to be careful but would having a card and paying it off in full every month help my score? If so how long would it take and are there any other steps that I could take?
I got accepted for a capital one card with a £200 limit (as long as I gave them a £200 deposit) but I don't know whether it would help?
Sorry I know that I am asking a lot of questions but I've finally taken the plunge and I want to take the first steps to getting sorted out. Any help would be sincerely appreciated.
Many Thanks.
Matt

jojo1978_3

I think that having a credit card would be the best place for you to start as long as you keep it under control.
Your credit file will always hold the last 6 years worth of credit you've had, but using a card and paying it on time every month and keeping it under its limit will help. You don't even have to pay in full every month, credit card companies will send a monthly report over to credit ref agencies, this will show whether its been over limit and whther a payment has been recieved.
Hope that helps a little

matt_ash

Thank's I think I'll go for the card. Has anyone got any other ideas?

MrsTinks

Ultimately what is really looked at on yoru credit history is how you have managed your credit in the past. If you can proove that despite having bad history you have picked your self up and have managed your credit perfectly for the last couple of years this can have a lot of sway with credit companies. If you think you can control the card then yes get one and start rebuilding. If you think you might be just the slightest bit tempted then I wouldn't get one if I were you