Improve your credit rating

Building a credit history

There is nothing lenders or credit card issuers like better than a good credit record where borrowers show they can successfully repay amounts they owe and manage credit and debt.

• This means, for instance, successfully managing a bank account, repaying overdrafts and previous loans, even if small

• Lenders check the Electoral Roll to confirm your name and address, so make sure you are registered with your local authority

• One or two successful credit card applications could be seen as a sign of credit-worthiness. You may want to apply for one just for that reason

But do bear in mind that every time you apply for credit it leaves a "footprint" in your file which will be seen by other lenders and issuers. A large number of searches over a short period could signal over-commitment or even fraud, so you may think it more sensible not to apply until absolutely necessary.


More pages

Page 1: Introduction
Page 2: Building a credit history

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