Building My Credit

Jakub_T

Hi All,

I am a newly qualified radiotherapist and have just graduated from university this summer. Realistically in around 4/5 years I will be looking at buying at house however I am concerned that I don’t really have a credit score/history. I have a LISA account and pay rent and WiFi bills monthly but no other bills that are directly in my name. What advice/tips does anyone have that I can use to try and increase my score please?

Thank you all in advance!

Jakub

cjv

Don't worry about your credit scores as lenders do not use those when making decisions, it is your credit history that matters.

Get yourself a credit card, put some of your regular spending on it each month and then pay it off in full after you receive your statements (set up a direct debit to be safe). Over time your credit history will improve.

Use an eligibility checker to see what cards you may have a high chance of being accepted for.

Good luck

Jakub_T

Thank you very much for your advice! Is there any eligibility calculator in particular you would recommend?

Cheers,
Jakub

KnowledgeIsLife

Credit cards are a good way of building your credit history they don't check scores If your are renting currently you can use something called credit ladder they report your rent payment to Experian which shows you pay your rent and improves your score I would say use a few comparison companies just like if you were looking for car insurance.

Thrugelmir

Ensure that you register on the electoral role.

A credit profile is built over time. As is a reflection of how you manage your personal financial affairs. This couples together with your personal profile, job , length in employment etc. All the data enables a lender to risk profile you into the type of potential borrower you are.