Banks and lenders like to lend to people they see as stable and reliable. They use two things to measure this – your career history and your previous addresses. If you have had more than three jobs in the last three years, or had periods of unemployment, or if you’ve have lived at more than two addresses in the last three years, your credit score is likely to be lower than if you had stayed in the same job or the same home.
By applying to various lines of credit simultaneously, this is an indicator to other possible lenders that you are an undesirable and a risk to lend money to.
If you do have debts, make sure you are making your repayments on time. Even if you have a CCJ, default or bankruptcy on your credit history, try to repay what you can – lenders would be able to see when debts have been settled.
By not applying for additional lines of personal finance or credit, and focusing on existing debts and not missing any payments is a good way to slowly raise your credit score, thus becoming an easier customer to lend to.