Getting a loan I don't need to improve credit score

My credit score is quite low, mainly because I've never needed to borrow money. I've had a credit card for the last 18 months purely to try and get a credit rating, so hopefully that will help somewhat.

However, I would like to buy a house a few years down the line and therefore I want to be a good candidate for a mortgage. I was thinking of getting a loan (that I don't need) just to prove I can pay it back. But I don't know at what point it actually looks bad to have too many loans/credit cards and I'm worried it could work against me. Is there any sort of correct balance on the number of loans/credit cards I should have to get a good rating?


  • I don't think you need a loan. I am 19 and a year ago my credit rating was awful. A year on and its really good now. I started of with a credit card which was a Vanquis credit card. Only had a £250 limit and the interest was 39%. I had that for over 8 months and also had a phone contract. A couple of months ago I was accepted for a Tesco credit card which had a £1100 limit.

    I don't think getting a loan out will do to much. Just keep up to date with the credit card payments. Setup a direct debit if you haven't got one yet.

    My advise is just to keep saving and keep the credit card.
  • Stick with the card. You don't need to pay interest to improve your credit file.
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