how can i improve rating??

asparagus1968

hope someone has a good idea!
i have just registered to Noddle,my score is 3/5,which means "may get rejected for credit or not be offeres the best rates".

history:
yearly income,made up of salary,CSA,CTC=£24,000
mortgage £57,500-never late or miss payments
CC £1500-never late/missed, minimum is about £25 a month,i pay DD of £100.
bank accounts-never been over arranged OD (which is £250 )
i don't have any savings

ive never missed a payment all of my life.

how can i improve my rating? why do you think it is this poor?

i will need to remortgage at end of year so would like a chance of getting a good interest rate!

thanks for reading.

mildredalien

There's a couple of things I can think of - making sure you are on the electoral roll, and clearing (full payment) a credit card each month. Making minimum or even extra payments I don't think helps credit rating.

Not sure why your rating would be lower if you have no marks against you for late payments etc. - it might be worth checking your Experian or Equifax reports as well (make sure you cancel before they start charging).

It is worth noting that banks etc. don't go by a credit 'score' and they each look at different things, having 3/5 on Noddle may not actually mean very much! I also have 3/5 and have one default and a series of missed payments in the last 6 years...

asparagus1968

oh,thanks for your input,
it really doesn't seem to make much sense does it?