Late payments 31 October 2021 at 8:49AM edited 31 October 2021 at 8:51AM in Credit file & ratings 1 reply 71 views

jones_guitar

Hi, I have three late payments that are just about to turn 12 months old. I am hoping this will improve my credit score enough to get off a better credit card? Only thing is defaults that are now 4 years old.

MovingForwards

Your credit score and rating are not used by financial institutions, it's the credit history that's seen and used by financial institutions.

They have internal algorithms which assess the data on applications and credit history from credit reference agencies, that leads to an accept / offer something else / decline.

Provided you're paying the credit card in full each month, after the statement is produced, you incur no interest and it doesn't matter which CC provider it is.