Building up credit

OutOfTheWoods

Would i build up my credit score quicker if i had 2 credit cards
(paid off in full every month)

Me & the mrs want to buy a house next year so need to build up my credit score as quick as possible.

[Deleted User]

It's not about the score, as no one sees it.

It's about building up a decent length of time of good financial behaviour.

OutOfTheWoods

Ok thanks, so would having 2 credit cards on my report, used & paid off in full every month or would just 1 be as good.

[Deleted User]

I doubt it would make much difference. But it wouldn't harm, either.

LplateSaver

The credit reports keep saying having a "successfully settled account" is really important so I don't see how it wouldn't be a positive factor to have two credit cards reporting good feedback every month and then to close 1 after a year to get that successfully settled account.

OutOfTheWoods

Excellnt, thanks for the help

I think i use the one i've odered for maybe 6 months, the apply for another one then to close the 1st 6 months later.

Thrugelmir

OutOfTheWoods wrote: »

Me & the mrs want to buy a house next year so need to build up my credit score as quick as possible.

Ensure that you've at least several years electoral history, don't use an overdraft, pay your utility bills on time, don't obtain any further credit than is necessary, pay down any existing debt.

Finally save hard. As the deposit you put down can make a real difference.

If you are FTB's look at schemes such as Nationwides Save to Buy. As saving with the lender prior to application does earn you brownie points.