Eeek credit score 32

CKhalvashi

27col wrote: »

Presumably, if you learned to live without credit, you would never build up any sort of credit rating.

Some credit is always good, as you need to prove you have paid back in the past.

I've just gone beyond £250k of limits, which when used in accordance with my income, it will boost how I will look to lenders.

If I maxed them out in one go, it would look bad, but it's all about moderation.

CK

Thrugelmir

27col wrote: »

Presumably, if you learned to live without credit, you would never build up any sort of credit rating.

The term credit rating is somewhat misleading. As electoral roll status, employment history etc are equally important. Likewise saving through an appropriate scheme can earn brownie points when it comes to obtaining a mortgage.

smeelicious

My bad credit was from being young and stupid and misled by a controlling ex to get credit in my name which we couldn't afford to pay back, now i'm hoping to pay back what i owe and rebuild my credit rating.
I have a contract phone and 2 catalogues in my name which i pay on time every month, just got the cash card with credit builder which i plan on just paying the £5 per month x

somethingcorporate

32 out of what?

My score for you (which is equally as meaningful as any CRAs score) is 42, so in my eyes, you're ok

smeelicious

Need to register fro electoral roll too x

smeelicious

So if credit score has no meaning, what does?

Sabbathdei

Paying your bills on time, that has meaning....more meaning than anything else.

smeelicious

Ok then i shall carry on with what i'm doing finally getting myself back on track

smeelicious

Am i right in thinking its good to not use much of my available credit too?

CKhalvashi

smeelicious wrote: »

Am i right in thinking its good to not use much of my available credit too?

For the moment, focus on paying your debts back and using one card sensibly, paying in FULL each month.

The chances are you've got various defaults, so it may be worth paying most of what you can, and saving to try to get an amount to make 50% F&F in the end.

CK