Tips for improving your credit rating score
It’s important when running a home and looking after a family that your credit score is a positive one so you don’t run into trouble when it comes to securing a mortgage, taking out a loan for home maintenance or even a ‘buy now pay later’ credit card in the holiday season.
Many of us don’t even consider our credit rating and have never checked it before but regret this decision when it comes to taking a loan for something important. A poor credit rating can block plans and projects by limiting us financially.
There are numerous ways to help you get your credit score back in check. You might know that you have the financial capability to pay back any debts but that one poor decision or late payment in the past has upset the balance on your rating sheet and banks will scrutinise any little discrepancy to avoid lending out money.
Thankfully, the Money Advice Service has created a simple info graphic, featuring some great tips on how to improve your credit rating and get back on track for the future. It also has a useful online mortgage calculator to help with managing what is, for most households, the single largest monthly expense.