Unfortunately, when it comes to credit we all have to start somewhere and getting a good credit score is not easy. It takes work but there are different things you can do to boost your credit score or even get it going to begin with.
1. Register to Vote
I didn’t actually know that this had such an impact until recently. Not only could not be registered to vote affect your credit score but it could stop you getting credit altogether. I think I must have registered to vote as soon as I was old enough because I don’t actually remember doing it, although now I am really glad I did. Some people don’t register as they don’t want to vote but you really should. You can do this on Gov.uk.
2. Check your score!!
This one doesn’t involve taking out credit of any kind. The thing is, you should really know what your credit score is like before applying for anything. If you have a questionable credit score there is no point applying for something you’re unlikely to get accepted for. If you get declined on an application, this affects your score. Always check your score before you apply.
3. Pay on time
I know this one may sound really simple and a bit obvious but you’d be surprised how much damage one late payment can do. Some late payments can stay on your credit score for years but any in the last 12 months will have a pretty big impact.
4. Use free eligibility calculators
This one ties in really well with point number 2. There are loads of free eligibility checkers out there and Money Saving Expert have great tools for checking for loans and credit cards before you apply. Using one of these tools could save you getting a bad mark on your score!
5. You’ve got to start somewhere
As I said in the beginning, everyone has to start somewhere when it comes to credit scores. We’re not automatically given a decent credit score and it has to be worked on. Unfortunately, sometimes the only way to make your credit score better is to take out some products that wouldn’t be considered clever options such as mail order catalogues, credit cards with high interest rates and Payday Loans. As long as you’re careful with what you have and when you pay everything back, you’ll be fine!
Disclaimer: This is a collaborative post. All opinions are our own.