increasing my credit rating... any tips?

CaptainComedy · 4 Nov 2009 at 14:50

sooooo I have little credit rating, never had a credit card, no contract mobiles etc etc checked credit agency (forgot the name) and it just has a bunch of addresses I've lived at.

so will I have a problem with a mortgage? could I get a credit card, transfer money into bank account and then put it back in? would that count as a good point on my file??

any tips other than pay on time?

Oxide™ · 4 Nov 2009 at 14:54

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

cannot be put any better

King85 · 4 Nov 2009 at 14:56

Pay everything on time is a key one, limit applying for any other finance be it loans, credit cards, etc and try to have money moving into your bank account as much as possible.

A contract phone would probably be a nice easy regular payment setup to start off with.

Rich1988 · 4 Nov 2009 at 15:06

whats a good or bad credit score?

CaptainComedy · 4 Nov 2009 at 15:11

Rich1988 said:
whats a good or bad credit score?

well 500 is a no score, less than that is a bad score - that's on credit expert

currently my score lol.... oh dear. So I'm not sure if banks will want me cos I don't have a good credit rating? well it's bad... it just doesn't exist...

div0 · 4 Nov 2009 at 15:11

Get a credit card - use it to buy anything you'd normally pay by switch for. Pay off the bill each month. This shows you can handle credit/debt and pay it back, which improves your credit rating.

Rich1988 · 4 Nov 2009 at 15:14

codec said:
well 500 is a no score, less than that is a bad score - that's on credit expert currently my score lol.... oh dear. So I'm not sure if banks will want me cos I don't have a good credit rating? well it's bad... it just doesn't exist...

I have signed up with credit expert so will find out within a couple of days!

CaptainComedy · 4 Nov 2009 at 15:55

yeah it's free to try for a month or so, pretty easy to cancel as well, phoned up - the girl was more than happy

mattheman · 4 Nov 2009 at 16:01

pre paid credit card look them up, some of them will push up you credit rating to excellent.

sbi5ar · 4 Nov 2009 at 16:02

cheers for bringing this up, i may have a dabble to see what my credit rating is

hopefully its not too bad

matthewhotdude · 4 Nov 2009 at 16:11

563

Ohh

InvaderGIR · 4 Nov 2009 at 16:18

What annoys me about that site is I've run it before, forgotten my score, if I try to run it again I have to pay £7pm...sod that, I know people are happy to lend money to me, so it must be ok.

KPeh · 4 Nov 2009 at 16:24

Does changing banks do anything to your credit rating?

(I mean, it wont reset/lower will it?)

InvaderGIR · 4 Nov 2009 at 16:28

Nope, shouldn't make a difference, unless you somehow stuff yourself up when changing.

Le_Petit_Lapin · 4 Nov 2009 at 16:39

I moved house and forgot to switch my electoral register details over. Man, I got rejected for so many things for ages till I remembered.

Uther · 4 Nov 2009 at 16:50

I used to have a brilliant credit score,owed loadsamoney and banks were falling over themselves to give me more.
Know I don't.Getting into debt isn't that great to be honest.