The difference between a good credit score and a bad credit score can have a huge impact on how much you can borrow (if at all) and what it will cost you each month. So getting on top of it and regularly making sure that you do not have any mistakes on your credit report is a good financial habit to adopt.
Here are some quick wins for your credit score:
- Register to vote, being on the electoral role is an easy way to boost your credit rating. Make sure this matches your address for all other things
- Pay your bills on time, you can automate this by setting up direct debits for the day/day after that you get paid.
- Check that there aren’t any mistakes on your credit report, there are plenty of websites that offer this service. Your address or date of birth may be slightly wrong for example.
- Do you have any financial association with another person who has a poor rating? A good example of this could be a joint account with an old house mate who has a poor credit rating. You can do this by checking your credit file too and then write to the credit reference agency and ask for a notice of disassociation once you have closed the account.
- Check for fraudulent activity on your credit report. Perhaps someone has fraudulently applied for credit in your name? If so contact the credit reference agency immediately.
- Moving house too often can make some lenders feel uncomfortable.
- Cancel unused store and credit cards
How to Report or Fix Mistakes on Your Credit Score?
- Challenge them by reporting the mistake to the credit reference agency. They have 28 days to remove the information or to tell you why they don’t believe you are right. During this time frame the mistake will be marked as disputed and lenders aren’t allowed to rely on this information when assessing your credit rating
- Speak directly to the lender that you believe has made the mistake on your file too
- Did you know that you can add a notice of correction to your credit report if the information on the report no longer represents your situation? For example, say you missed payments whilst you were out of work but now you are in a stable job again. They give you up to 200 words to explain your situation.
- Finally, a good habit to get in to, is to check your credit report every 12-18 months to make sure it is accurate.
Lots of Love
Miss Lolly xx
Leave A Comment