How can I improve my credit score?

If your credit rating isn’t as strong as you’d hoped, there are steps that you can take to improve it. Firstly, it might be worth holding off on any credit applications until your score looks better – each search will be recorded by the lender and this could lower your credit rating.

Joining the electoral register is an easy way to help boost your score – if your name’s not registered it’s harder to get credit. Such quick fixes will improve your score, but long-term control of your finances will really secure that credible rating. Paying back money on time and in advance is the simplest way to show lenders that you’re a reliable borrower.

You’ll also get a better credit score if you:

• own your own home and/or have lived at the same address for at least a year
• are on the electoral register
• have a good credit history by repaying other credit agreements on time, for example your gas and electricity bills
• have evidence of stability – for example you are employed rather than self-employed, you’ve lived at the same address, worked for the same company and had the same bank account for a long time
• are not connected financially, through your mortgage or joint bank account, to people with a bad credit score