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If your credit rating isn’t as strong as you’d hoped, there are steps that you can take to improve it.

How can I improve my credit score?

Secured Loans > Our Loans > Bad Credit Loans > Credit Rehab > Improving your 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
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
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