How do you improve your credit report?

[Natasha2605]

Cause I just looked at mine for the first time and it's very poor. Suggestions?

 

[booflebump]

Getting a credit card and paying it off every month is one way, as is making sure you are on the electoral roll. Martins Money tips has a good guide here -

https://www.moneysavingexpert.com/loans/credit-rating-credit-score

 

[cherryglitter]

don't worry. a lot of people will be in the same position with this current climate


i have heard getting credit and repaying it can rebuild a bad credit rating. i think there are specific credit cards that do that kind of thing too.

well done you for sorting it out. im a bury your head in the sand kinda girl.

 

[lindseymw]

Credit card is a good one, only spend a small amount on it (say £20-£100 a month) & pay it off in full each month. (That way you don't pay interest & bumps up your credit rating). It will take a while to take effect though.

Having a home phone in your name improves credit rating for some reason.

 

[CeeDee]

It will take sometime, maybe a year or 2. You'll have to pay everything on time and do not apply for new credit. New credit lowers your score.

 

[Leafy]

my oh has just applied for a credit card to do this x

 

[nickibrum]

the more direct debits you have (without missing a payment) the better. Works the same as getting a credit card.
who do you bank with? i found out that building societies dont give you a credit rating. i had been using my atm card/cash to pay for everything for 4 years. and it actually made me have NO credit rating- so therefore a poor one.
fast forward 18 months and now its excellent- so check your bank, direct debits, electroll roll, how much assess to money do you have- the more you have the worse it is, so if you have lots of credit cards/store cards but dont use them- close the account down.

 

[suzib76]

whats poor about it? if you have defaults, late payments etc then they take 6 years to leaveyour file and until they are gone there is not a lot that will improve it