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Credit score repair

edited 30 November -1 at 1:00AM in Credit File & Ratings
6 replies 1.2K views
Dseed100Dseed100 Forumite
4 posts
edited 30 November -1 at 1:00AM in Credit File & Ratings
Hey, so I have finally fully paid off my debt management plan today. 25k!

I want to rebuild my credit score (current 641)

I have applied and been accepted for a Aqua credit card and will ensure whatever I spend on it I pay off in full each month.

Just wondering if people think it would also help to get some other credit building products? I’ve looked at;

LOQBOX
Credit Improver

Any advice appreciated

Thanks

Replies

  • Willing2LearnWilling2Learn Forumite
    6.3K posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Just stick with Aqua card. Spend your monthly budgeted expenses on the card (groceries, petrol etc). Pay it off in full, each month, after you receive the statement.

    And congratulations on completing your debt free journey :T
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • [Deleted User][Deleted User]
    0 posts
    MoneySaving Newbie
    Ignore the made up number and stop trying to increase it

    Forget about such things as Loqbox and "improvement" products
  • Ben8282Ben8282 PPR
    4.8K posts
    Newshound!
    ✭✭✭✭
    Dseed100 wrote: »
    .

    Just wondering if people think it would also help to get some other credit building products? I’ve looked at;

    loqbox
    credit improver


    no. Avoid.
  • PRAISETHESUNPRAISETHESUN Forumite
    1.5K posts
    1,000 Posts Photogenic Name Dropper First Anniversary
    ✭✭✭
    Well done on paying your debt off! I'm sure it comes as as great relief to have that off your shoulders :)

    Ignore your score as it is basically meaningless. When you make an application, every lender will generate their own internal score based upon the contents of your credit file. So what matters most is your credit HISTORY.

    Having a credit card that you use for monthly purchases and pay off in full every month will show lenders exactly that - that you can manage credit responsibly. There is no need to pay for services to "improve" your "score" - in fact many are often fraudulent and can cause you more harm than good in the long run.

    You can improve your file yourself without needing to subscribe to credit (re)building services. Just keep doing what you're doing with the Aqua card and over time things will improve
  • ThrugelmirThrugelmir Forumite
    71.3K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    Learn to budget and manage your personal financial affairs. Then your credit profile will heal in time on it's own accord. There's no magic bullet. Your history lives on.
    “An investor who has all the answers doesn’t even understand all the questions.” - John Templeton
  • DCFC79DCFC79 Forumite
    38.5K posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    Good advice posted, no need to use Loqbox or the other one, I imagine they would cost money which is a bad idea imo.
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