First thing you need to do is check your credit file.
Credit agencies compile credit histories from a number of sources, including the electoral roll, County Court Judgments and how effectively past debts have been paid.
• Make sure all your debts are registered to your correct name and current address
• Ensure there are no other mistakes on your file, such as other people's debts or payment
• Register on the electoral roll at your current address.
• Don't make too many applications for credit in a rush – and that includes things like mobile phone contracts. Lenders translate that as desperation. Space out applications.
• Apply for credit you are likely to get. Also, ask lenders in the first place to only do a 'quotation search' - asking for a rate first - rather than a 'credit search'.
• Show lenders you're a responsible borrower by borrowing and paying it back. It might mean taking a credit card with a very high interest rate. Only spend small amounts and then keep clearing the balance, thereby not being charged interest. You need to do it for at least six months.
• Do everything in your power to keep up all agreed repayments ask for smaller repayments if you're finding it impossible.
• Close down any credit agreements you no longer use.
• Joint finance done with someone with a bad rating will affect your rating. If you split, write and tell the debt agencies.
You can immprove your rating by getting a
credit card for bad credit and paying ot off regularly. A good example of such card is the
granite credit card
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