Improve credit rating

Val2020

Hi this is my first post.

I have a pretty good cedit file but want to get a mortgage in a few years, what is the best way to improve my credit file?

stu2500

How bad is your credit history? Any missed payments, CCJ's, defaults? How much debt do you have?

Main factors:

- be on the electoral role
- don't have recent searches
- address and personal details up to date
- be up to date with all bills/debt

A way to build a better credit history is to have a credit card and pay it off in full each month.

[Deleted User]

You don't,

You improve your credit history not the made up score and rating.

There's plenty of posts on here - get a SIM only phone contract, get on the Electoral Roll, get a credit card and use it for normal expenses and pay it back in full each month.

Val2020

Thanks all, I have two credit cards always pay off in full

Im on Eregister, keep uptodate on all bills,

But the credit reference agency still doesnt give me a good score.

[Deleted User]

That's fine. All the scores are equally good.

Check your files with all three CRAs.

Val2020

Deleted_User wrote: »

That's fine. All the scores are equally good.

Check your files with all three CRAs.

Is the score they come up with nonsense?

One of the credit ref agencies come up with 585 and they say the average for my area is 600+

[Deleted User]

Val2020 wrote: »

Is the score they come up with nonsense?

One of the credit ref agencies come up with 585 and they say the average for my area is 600+

Nonsense is being polite

Ignore it - lenders don't see, care about or use it

[Deleted User]

Yes. Complete nonsense.

As long as you are building positive history, the score can be whatever you want it to be. It'll never be seen by anyone but you.

Val2020

Thanks all, but I still applied for a loan a little while ago and as it was a very large loan they turned it down.

I will wait a good while before my next attempt

[Deleted User]

What do you need a loan for?

Especially if you're looking to apply for a mortgage any time soon...

MEM62

Val2020 wrote: »

Thanks all, but I still applied for a loan a little while ago and as it was a very large loan they turned it down.

The decline may have been based on affordability, not necessarily your credit history.