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Best ways of building credit score
[Deleted User]
Posts: 0 Newbie
Any tips on best ways to build credit score?
-1
Comments
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Yes. Ignore it and build credit history instead with well managed accounts.
What's your current situation?0 -
For a mortgage? Save a healthy deposit. In itself a good signal to send to mortgage lenders as demonstrates financial discipline.0
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There are no quick fixes, have some credit - a credit card maybe, mobile phone, bank account, that should be enough.
Pay your bills on time - set up a DD.
If you have bad credit, time is the greatest healer. But it may not prevent you getting a mortgage, speak to a broker with experience in bad credit, there may be options.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It's not the score that's important, it's the credit history.
My partner and I have credit reports that are damn-near identical, the only difference being she has a credit card which is paid in full each month, and I haven't had a credit card for about 6 years. We're looking at options to borrow some funds to part-finance some home refurbishments; the best loan rate I could get was 10%, whereas she has been offered 3%.0
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