Improving my finances

Jakdaniels94

Hi guys,

Have had a couple bad years involving credit, however back on the straight and narrow trying to rebuild my credit history.

My Experian score is slowly rising (I know that a credit rating means nothing) and I’ve now not missed a payment for 6 months. During which time my credit limit has increased.

What more can I do to improve my chances of getting better cards in the future and finance? Currently have a Lumia Card with £800 and an Aqua Basic with £1200 credit limit.

The only dabtI have is £312 which I’m making my last payment next Friday. I always clear my credit cards on pay day unless for unforeseen circumstances.

Thanks

pecuniam_hominem

To improve your credit rating just keep using credit (and paying it off each month). This shows you can lend responsibly.


Bear in the mind though that 6 months without missing a payment, whilst good, is what should be expected. Those missed payments will continue to be taken into account in the near future.

How much do you put through credit card each month?

I would suggest you put food and fuel on credit card and setup a direct debit to pay it off each month. You will quickly show you are a responsible lender.

I personally put everything I can on credit card, but I am also very strict and budget for every penny. Do NOT do this if you can't trust yourself.

[Deleted User]

Ignore the scores and ratings and forget improving them.

Use the 2 cards you have and clear them in full each month.

This will build a credit history for you that lenders will look for.

owen_money

pecuniam_hominem wrote: »

I would suggest you put food and fuel on credit card and setup a direct debit to pay it off each month. You will quickly show you are a responsible lender.

Lender, are they lending? Surely its borrower, they are borrowing?