The journey to improving your credit score is a marathon, not a sprint.
An excellent score can help you qualify for low-interest loans and premium rewards credit cards, but the process takes time.
If you have a low credit rating, there are several things you can do to start improving your score today:
*Register on the electoral roll: if your name’s not on there, you’ll find it much harder to get credit.
*Check for mistakes on your file: even having just a slightly wrong address can have an impact on your score. So, make sure you check all the details and report any incorrect information immediately.
*Pay your bills on time: paying on time a phone landline or internet contract is a great way to prove to lenders that you’re capable of managing finances effectively.
*Check if you’re linked to another person: having a spouse, friend or family member’s credit rating linked to yours through a joint account could affect your personal rating if they have a poor score.
*Check for fraudulent activity: if something on your credit report is incorrect or doesn’t apply to you, i.e. if someone applied for credit in your name without your knowledge, contact the credit reference agency immediately to have your file updated.
*High levels of existing debt: ideally you should eliminate any outstanding debt before applying for new credit. This is because banks, building societies, and credit card companies might be hesitant about lending you more if you already have a lot of existing debt.
*Moving home a lot: lenders feel more comfortable if they see evidence that you have lived at one address for a considerable period. Be sure to bear this in mind.
*Keep your credit utilization low: Your credit utilization is how much of your available credit limit you use.
If you’re struggling to improve your score, you can go to our website for FREE Consultation @https://www.dkrgroupfunding.com/register.