Very bad credit rating!

JamesWMH

Hi,

I know everybody says that credit scores don't mean much, but after having signed up for Credit Expert they show me as having a rating of 418!

But I have just been accepted for an Aqua card, so I'm not sure how this all adds up?

How can I improve my rating? I don't have enough to pay off the credit card balances in full. Anything else I can do?

Thanks,

HoneyAndLemon

why are you applying for more credit cards if you can't afford to pay off your existing cards?

JamesWMH

To try to pay off the Wonga loan I have, to reduce the interest from 4000% to 37.9%

mildredalien

The only way you can improve your rating is to make at least minimum payments, without defaults, regularly over a number of months/years.

Also, every credit agency is different, and they don't (I think) look at scores, rather your history. So you could just try your luck... although be careful, applying for too many avenues of credit within a short space of time can reduce your chances of getting credit.