Love Your Credit Rating - Simple Ways to Boost Your Credit File!
Credit - it's an essential service in the 21st century and one that can make our lives easier, and maintaining a good credit rating is something that helps when it comes to seeking loans, mortgages and more.
Sometimes people run into problems that leave their credit file in a less than satisfactory state; here are a few essential tips that will help you boost your credit rating back to a clean and useful standard! Check your file Everyone should regularly check their credit rating file as it is not unheard of for erroneous reports to creep in and harm your score.
Don't be fooled by companies offering to remove these errors for you as they will charge you a fortune and it can be done by you! You need to raise documentation from the lender to prove that you have paid off the debt or come to a satisfactory agreement, and this needs to be provided to the credit agency.
This simple method is one that many people are unaware of, yet it is essential to keep a close eye on the state of your file and score.
Prove you can manage credit Your credit rating is not necessarily based on the amount you owe but is more concerned with how you actively manage your credit.
There is a paradox involved here that catches many people out - those without credit do not have a credit rating; you need to prove to borrowers that you can keep accounts well managed and paid within the required amounts.
It may seem to be odd advice but closing accounts that have been paid is not the right thing to do - leave them on file and they add to the score as they show you are adept at managing credit, remove them and they are no longer there for perusal.
Likewise, keep within your required agreement - simple advice, but often overlooked - and you are proving your ability to manage.
Keep a good mix of credit This is also sound advice that is often overlooked, yet it works wonders for a great credit score.
You may have a mortgage - a long term credit loan - and if so make sure you also have a credit card, and that you use it regularly while paying off the required balance all the time.
This indicates your ability to handle different types of credit and boosts your credit score sufficiently.
Keeping your credit file healthy is important as being able to access credit means greater flexibility with purchases; the key is this - to have a great credit score, you need to have credit! Make sure you balance your borrowing accordingly and sensibly while seeking any PPI refund you're owed, do this and you will be rewarded with an excellent credit file.
Sometimes people run into problems that leave their credit file in a less than satisfactory state; here are a few essential tips that will help you boost your credit rating back to a clean and useful standard! Check your file Everyone should regularly check their credit rating file as it is not unheard of for erroneous reports to creep in and harm your score.
Don't be fooled by companies offering to remove these errors for you as they will charge you a fortune and it can be done by you! You need to raise documentation from the lender to prove that you have paid off the debt or come to a satisfactory agreement, and this needs to be provided to the credit agency.
This simple method is one that many people are unaware of, yet it is essential to keep a close eye on the state of your file and score.
Prove you can manage credit Your credit rating is not necessarily based on the amount you owe but is more concerned with how you actively manage your credit.
There is a paradox involved here that catches many people out - those without credit do not have a credit rating; you need to prove to borrowers that you can keep accounts well managed and paid within the required amounts.
It may seem to be odd advice but closing accounts that have been paid is not the right thing to do - leave them on file and they add to the score as they show you are adept at managing credit, remove them and they are no longer there for perusal.
Likewise, keep within your required agreement - simple advice, but often overlooked - and you are proving your ability to manage.
Keep a good mix of credit This is also sound advice that is often overlooked, yet it works wonders for a great credit score.
You may have a mortgage - a long term credit loan - and if so make sure you also have a credit card, and that you use it regularly while paying off the required balance all the time.
This indicates your ability to handle different types of credit and boosts your credit score sufficiently.
Keeping your credit file healthy is important as being able to access credit means greater flexibility with purchases; the key is this - to have a great credit score, you need to have credit! Make sure you balance your borrowing accordingly and sensibly while seeking any PPI refund you're owed, do this and you will be rewarded with an excellent credit file.
