There are a number of actions you can take to improve your credit report and score which can then reduce your payments on a range of financial products e.g. loans, mobile phone contracts, credit cards and mortgages. The most critical actions you can take are:
Obtain your current Credit Report and Credit Score
The first step is to get your credit report and find out your actual credit score and check that the data held on you is accurate. Your report and score can be obtained from a UK agency. We provide FREE access to your credit report from a leading UK Credit Reference Agency.
Build a good credit history
If you have no credit history then it’s more difficult for lenders to score you, so you’re more likely to be rejected. Therefore, for those with a limited credit history, you need to build one. We show you how to do this.
Correct any incorrect information on credit defaults
If the data held on your credit report file is incorrect, especially if it is in relation to payment defaults, then this can be updated to help improve your report and score. We will show you how.
Living with someone – know the score!
Marrying or living with someone with a bad credit score shouldn’t impact on your finances as third-party data (someone else’s information) doesn’t appear on your file. However, if you are ‘financially linked’ to someone on any financial product then it can have an impact, and it is important to know how this all works in practice.