Rebuilding a credit score

Juden

Hi,

I have recently finished paying off my all debts and signed up to the MSE credit club (a really helpful tool). All the areas on my credit report are green, bar 'account stability' which is yellow - all my account are between 3 and 1 years old. I'm not looking to apply for anything anytime in the foreseeable future, however I do want to know how it will take for my score/ credit hit rate to rise. My score is currently 790 and my hit rate is 35%.

Thanks in advance.

DCFC79

Juden wrote: »

Hi,

I have recently finished paying off my all debts and signed up to the MSE credit club (a really helpful tool). All the areas on my credit report are green, bar 'account stability' which is yellow - all my account are between 3 and 1 years old. I'm not looking to apply for anything anytime in the foreseeable future, however I do want to know how it will take for my score/ credit hit rate to rise. My score is currently 790 and my hit rate is 35%.

Thanks in advance.

Your score is about as useful as a pack of chocolate coated malted milks, no 1 can see your score except you, if you sign up to Clearscore and Noddle you will see your score will vary a lot, this is due to not all lenders not reporting to all 3 agencies, some report to 1 or 2.

Focus on the history being correct, maybe apply for a CC and ask for a low limit and use it for petrol and pay it off in full every month using DD.

onthefencepost

Agree with above.

I had 7 defaults over 12 months ago, got 5 now.
Took a CC out - use it for daily spends pay it off. Now ive got a Tesco cards so i split my spends to build up a good credit history.

Just yesterday i received a invite fro Vanquis to apply for a card which im not interested in.

Key it keep payments up to date, aviod paying minimum payments, i always clear the balance in full, let black markers like CCJ and defaults drop off whilst having positive reporting. its a long journey but if you play your cards right your older defaults have less effect especially if your having a positive reporting.

Juden

Thanks both of you who replied.

I have a CC with the same bank as my current account and pay it off in full every month. Also all my debts have rolled off my credit report as they were over 5 years old. I just want to know if my eligibility score will increase as time goes on. Or is there anything else I can do?

Again cheers for the advice! The forum has always been a wealth of knowledge for me!

[Deleted User]

Juden wrote: »

I just want to know if my eligibility score will increase as time goes on.

As above, your score can do whatever it feels like. It doesn't matter.

The longer your good credit history, the more positively lenders will view you.