How to improve credit rating?

turbo.jet

Correct, although they don't share the same databases. The 'credit score' is an arbitrary figure created by that one company you used anyway, and every lender has their own criteria for what they think is a good/bad credit risk.

Because of this, I'd keep an eye on your credit report purely to make sure all the information on there is correct (no-one has stolen your identity and gotten credit in your name etc). Apart from that, never be late with a payment and get on the electoral roll and that's your best bet.

DebtFree2012

You can sign back up with experian for a new trial as long as you provide a different mother's maiden name and I think you need new email address too but not 100% sure on email - def maiden name though.

Thanks for the congrats on account closure - 5 more to go!

turbo.jet

Thanks DebtFree2012. I'd already used up my free trials with all the companies several years ago but based on your tip about the different email address I signed up again to Experian yesterday.

Cleggie - have you read the bit on the CreditExpert site with their advice on how to improve their credit score?

cleggie

Thanks guys.

I will resign up with a different email once my 30 days are up, or i might leave it a few months first, then sign up again.

T.J- no i havent looked at that bit to be honest, i just freaked out! Will have a look today.

cleggie

Oh yes, i just looked at the 'how to improve your rating' bit and i just have to carry on doing what i am planning to do:
-Pay CC in full every month
-Keep to my arranged payments for my catalogue
-Get on the electoral role

I think its just a case of plodding on and waiting for it to improve over time. I think it'll be a long term thing but i am preparred for that anyway as i guessed it would be!

turbo.jet

Well I waited 2 and a half years before I checked mine yesterday, and was pleasantly surprised. You will be too. Keep up the good work!

cleggie

Maybe i should leave it 6-12 months instead then, before checking again..my catalogue will be paid off too then..so i would hope its better by then!

Thanks T.J.

turbo.jet

cleggie wrote: »

And you are doing a great job of clearing your debts T.J!! Just looking at your signature, well done!

Sorry, I didn't see this until now. Thank you so much for saying so.

I am actually a little disappointed in myself. If you look at it, I cleared 9K in 3 years, so I should be cleared now. In actual fact, I cleared most of that 9K in about a year of focussed debt reduction. Somewhere along the way I lost my focus I guess.

I did have a lot of expenses to tackle and I haven't exactly been swanning around on a yacht, but I still think I could have done better. It pains me to think it will be just before my 35 birthday before I clear it at this rate, only then can I begin to start saving for my own home which is my all-encompassing dream

On the bright side I have learned a lot and when I am ready I should have the credit rating to do so.

TJ

Aiming_High

DebtFree2012 wrote: »

You can sign back up with experian for a new trial as long as you provide a different mother's maiden name and I think you need new email address too but not 100% sure on email - def maiden name though.

Thanks for the congrats on account closure - 5 more to go!

Thank you for this :T

Just checked mine again.

InsertWittyName

turbo.jet wrote: »

Sorry, I didn't see this until now. Thank you so much for saying so.

I am actually a little disappointed in myself. If you look at it, I cleared 9K in 3 years, so I should be cleared now. In actual fact, I cleared most of that 9K in about a year of focussed debt reduction. Somewhere along the way I lost my focus I guess.

I did have a lot of expenses to tackle and I haven't exactly been swanning around on a yacht, but I still think I could have done better. It pains me to think it will be just before my 35 birthday before I clear it at this rate, only then can I begin to start saving for my own home which is my all-encompassing dream

On the bright side I have learned a lot and when I am ready I should have the credit rating to do so.

TJ

You must be my twin My aim is to be debt free by my 35th birthday to start saving for a 'nice' house deposit as well, and at my worst, was around £21k in debt!

Good luck.