How do I increase my Credit Rating?

lj090876

My partner has bad credit rating, but has no debt. All information or help we can find it all deals with people with debt and what to do. In the past he has tried to get a credit card, but has been declined, as someone mentioned if he got a credit card with a high interest and buy one thing a month on it and paid it off straight away that would help. Also he has got a credit report and it states his credit rating to be ‘Poor’. Has anyone got any advice that can help?

Gemmzie

It might be worth trying for some easy credit, rebuilding a file is the same. A phone contract might help. Or a high rate credit card as long as you spend on it and clear it in full every month!

RAS

Is his credit rating poor because he has a bad past credit history,, even going back 6 years, or becasue he has never had credit?

if he is single in rented accomodation, his rating will be lower automatically.

Make sure he is on the electoral roll, get one or two utilities in his name, see is he can get a mobile phone contract which he pays by DD every month. Ditto re a high interest card - make sure the DD is for the full amount.

lj090876

When he was a Uni , he got into trouble with a credit card. He did not get a CCJ against him, but a company contacted him with regards to paying it off which he did in Dec 2006. He is on the Electoral roll and also has a BT land line in his name. He has got Credit in the past for my engagement ring a couple of years ago.

RAS

Has he got a copy of his credit reference checks, all three?

is this debt marked as fully satisfied?

Unfortunately, this is going to be on his record for 6 years and at the mo people with one late payment are finding it affect their credit rating.

lj090876

The credit report is with Experian and it states it is fully satisfied. He only did this company do you think him doing the other is a good idea too?

RAS

I would suggest getting the other two - see Martins article with the same title as your thread.