Tips to increase score ?

Mjfender26 · 21 March 2019 at 6:28PM

Hey people, I’ve recently cleared off a mass amount of my debt, cleared my hire purchase agreement just over a fortnight ago, and my credit file had taken a huge hit due to that, annoyingly.

Does anyone have any tips on how I can increase it faster? To get me back up on good ground mainly.

I’m paying my credit card in full every month, and also my telecoms and handset bills, I know that keeping on top of payments is the best thing I can do, but if there are any other little tips that anyone had that would be great!.

Willing2Learn · 21 March 2019 at 6:50PM

You should ignore your score as lenders don't see and don't use it. The score you see is for your eyes only.

Lenders score you independently against their criteria and policies using the data held in your credit file, added to the data you submit in a credit application, added to data the lender may already hold on you (as an existing or old customer).

Mjfender26 wrote: »

I’m paying my credit card in full every month, and also my telecoms and handset bills, I know that keeping on top of payments is the best thing I can do

Just keep building the positive data in your credit file and everything will be fine. Stay on the ER and continue providing evidence of successful credit account management.

Mjfender26 · 21 March 2019 at 6:57PM

I know there’s no ‘exact’ time frame, but only the past month or two I’ve had a credit card, always paid In full on time, had a mobile phone contract since around October, and again, always paid on time.

But my question is, is there a realistic time frame before lenders think I’m a good candidate ?

I have ONE default left on my credit file, which is due to be removed.

But no missed payments the past 18 months.

I have made around 3 credit applications for various credit cards and one car PCP loan in the last 3 months , which were declined, so I understand that may of impacted it also.

I hear it’s best to leave any applications 6 months apart?

[Deleted User] · 21 March 2019 at 7:05PM

The same advice given in all other posts on here on the same subject matter.

You don’t.

Willing2Learn · 21 March 2019 at 7:07PM

It is the default that is the big negative on your credit file. The missed payments are also a negative, but their impact lessens over time. Once the default is removed, lenders will view any credit application you make more positively.

Mjfender26 · 21 March 2019 at 7:53PM

Willing2Learn wrote: »

It is the default that is the big negative on your credit file. The missed payments are also a negative, but their impact lessens over time. Once the default is removed, lenders will view any credit application you make more positively.

Okay great!

Guess the default is a dark cloud in general as you say

Tips to increase score ?

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