Everyone has an Experian Credit Score. Looking after it, nurturing, growing and improving it can help you get a better rate on loans, credit card or mortgages.
If you apply for new credit, and lenders see late or missed payments on credit agreements with other lenders, they may be concerned that you will miss payments to them too.
Missed or late payments stay on your credit report for at least six years, and this can have a big impact on your score. This means that any credit you do apply for and manage to get could have a higher interest rate and might cost you more money.
Regular payments on time can help build up a good credit account payment history. So it’s a good idea to set up a direct debit so you can make a payment as soon as you get a statement or a notification. It might also help if you change the payment date to a time that is more suitable (after pay day is usually a good one) so as to help you budget for the month and other regular costs.
The Experian Credit Score is a guide to help you understand your credit report, and how the way you’ve managed the credit you’ve had in the past might affect applications you’re making now.
Watch our new Experian CreditExpert TV ad here – and find out how we can help nurture and improve your Experian Credit Score
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If you have questions you’d like answered about your Experian Credit Report and Score, our Twitter and Facebook customer service teams are online Monday to Friday 8am to 8pm. Saturdays 9am to 5pm.