Tips for improving credit rating

grimboj

Hello,

I was looking for some advice from anyone that has some

I'm looking to improve my credit rating to eventually buy a house, I do not have bad debt but I didn't use any credit at all until I was 23 and I'm 26 now.

I have now got 4 empty credit cards with a reasonable APR (15-20%). I couldn't find much advise on how to manage these, should I just put some shopping on each one and pay the balance in full? Does it matter for credit if I'm paying off a significant amount of money? Should I pay the balance in full of just keep £10 debt on there making the minimum payments?

Also I was looking at loans, would there be any point to taking out a loan for £1k over 5 years just to show some payments?

Thanks,

Graham.

MrsManda

Have a look at Martin's guide on credit rating
http://www.moneysavingexpert.com/loans/credit-rating-credit-score
http://www.moneysavingexpert.com/loans/credit-rating-credit-score#improve

Don't take out a loan if you don't need to.
Use your credit cards but pay them off in full every month.
Don't have cards you don't use - if you don't use them cancel them.

Start saving - you've got a better chance of getting a good mortgage if you've got a large deposit.