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How to improve your credit score

12 Methods to Boost Your Credit Score in the UK

Purchasing and selling items in credit is very much common in the United Kingdom. That is why the credit score is present that helps you to maintain the balance, as well as the reputation of the purchase and sales. Keeping a good pace in the credit score also has the ability to power up your future transactions. 

How to improve your credit score? Every citizen of the UK who deals with credit purchase and sale have this question in their mind. So, let’s answer the question. But, before that, you must know what a good credit score looks like. This will give you a good idea about maintaining the score and how to improve your credit score.

A Good Credit Score: How does it look?

Various types of creditors have their own way of setting up the standard credit score. All the creditors of the different agencies always suggest people maintain a good credit score in their credit books.

Let’s say the minimum credit score of three organizations are 850, 700 and 1000. So, you have to maintain the score of 780 out of 850, 420 out of 700 and 880 to 900 out of 1000. This is a short idea on how to improve your credit score. In addition to that, you have to maintain this score no matter what happens. 

How to Improve your Credit Score?

Improving the credit score with the help of these effective methods will help you in eliminating most of the debt problems. Furthermore, no creditors will think twice about lending you money if you give back the debt systematically and maintain a good and healthy credit book. Without further ado, let’s check them out as they are given below. 

Method 1: Registration to the Electoral Roll

An electoral roll is a place where all the people’s name and details are present, who fulfils the eligibility criteria to vote. This also triggers the confirmation to the government that you are a citizen of the United Kingdom. If you are opting for credit from creditors then there will be a verification whether you are in the registers of the electoral roll or not. If you are not, visit the official government website to register. 

Method 2: Rectify any Mistakes 

Mistakes in your credit information can lead to the deterioration of the credit score. That is why take some time and check whether all the information in your credit book is correct. If not, ask the person who maintains the credit records to make the necessary corrections. 

Method 3: Pay your Bills on-Time

You must pay all the desired bills within the mentioned deadline. Violating any deadline will affect the credit score. In addition to that, you might have to provide some extra charges, along with the principal bill amount as a fine. This is one of the best ways to improve your credit score. 

Method 4: Beware of Duplicity

The people who are behind the desk of the credit registers can accidentally make a mistake. On the other hand, as most of the information is stored digitally, there is a good chance that the system might malfunction. This can lead to the replacement of your information with someone else’s. So, making yourself aware of this kind of duplicity where you don’t belong will show how to improve your credit score, apparently. 

Method 5: Try to avoid CCJ

County Court Judgement comes into the picture when the condition of the debt collection is critical. So, you must not delay in making the repayments of the debts. If your creditors opt for the CCJ, then be sure that your name is going to be present on your credit books. This will usually affect your further credit purchases. 

Method 6: Pay Off any Existing Debt 

Never keep any remaining debts pending for a long time. In credit books, this is called outstanding debts. If the outstanding debts are more in amount, then it will eventually affect the credit score. So, before opting for any further debts, make sure that you give back all the remaining amount to its destined creditors within time.

Method 7: Low-Interest Rates

Maintaining the perfect repayment will usually help in maintaining a healthy credit score. As the information is always public, all the creditors can view your credit score easily. This will create a good impression on them. Thus, in the future, when you will ask them for credits, they might offer you low-interest rates. This is how to improve your credit score, easily. 

Method 8: Only borrow the affordable amount

Never borrow any extra amount. This extra amount will be of no use to you. On the other hand, you have to pay interest. At last, paying interest on this extra amount might become hectic and thus the creditors have to take the help of the County Court to take it out from you. Thus, always borrow an affordable amount. 

Method 9: Make Use of Offers

Loans, credit amounts, and other mortgage amounts will be easily sanctioned if you make use of several offers provided by the creditors. In addition to that, paying the credit amount, within the deadline will also help them to gain trust in you. This will eventually help you to understand how to improve your credit score. 

Method 10: Detach yourself from any joint ownership

Let’s say you and your partner are maintaining a single credit book. You are maintaining a good credit record and your partner isn’t. In this type of cases, your good activities of increasing the credit score are deteriorated due to your partner’s activities. If you can feel or experience this kind of situation, then immediately detach yourself from the partnership. 

Method 11: Keep up the pace with a low balance

Always maintain a limit of the credit card balance about 25% to 30%. Having a low balance will not allow the lenders to deduct money when you are in debts. This can help you maintain a good credit score as you will pay the debt amount from wherever you want. 

Method 12: Close any Additional Account

According to the expert’s point of view, it’s better to maintain a single account rather than dealing with multiple ones. The situation will turn out to be hectic in order to keep a closer look at all the accounts. So, there is no need to worry about multiple accounts. 

The Information Present in the Credit Report

All the detailed information is mandatory for the creditors when they grant your request for lending credit. All the facts are given below: 

  • Your full name, residential address and date of birth
  • Footprints of your credit file
  • List of the used credit application
  • Detailed information about joint credits (if any)
  • Any information on missed or skipped payments
  • The total amount of your debts

There is also some other information that you must consider. Your presence in the electoral registers is mandatory. If you have opted for an IVA, then providing all the necessary information about the IVA is also applicable. 

Information excluded in the Credit Report

There is information that is counted out of the credit report. They are like the amount of your monthly salary, the total amount of student loans, detailed history of your medical records, criminal records and others. 

On the other hand, dealing with government organizations like Council Tax, fulfilling its arrears and paying off parking or other types of fines are also excluded from the credit report. 

Avoid Credit Score Repair Offers

The credit score cannot be repaired or recovered by others. It belongs to you and has lowered depending on your activities solely. Therefore, you have to accelerate it all by yourself. No one else can do it for you. So, if you get such kind of offers as increasing your credit score on your behalf, simply ignore it at once. 

Protect yourself from the Credit Frauds

Regarding these online monetary transactions related to debit and credits, you must always be aware of frauds. They are always ready to show up propaganda and steal money from you. According to the reports and analysis were done by the experts, they say that people who are not so experienced in this matter lose some of their money by stepping into their trap. 

If you accidentally set foot on their traps, then you might lose money, as well as lower the credit score. Avoid any types of phone calls or letters from those people who want to provide you with jaw-dropping offers. 

How about getting a Credit-Builder Card?

A credit builder card might help you in triggering the credit score. Get one and pay off all the bills with the help of this card. Thus, your main credit account will remain untouched. On the other hand, you can also prove to the creditors that you are creditworthy. 

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