Experian Credit Score top tip #2 of 5: Space out credit applications

tip 2 - 600x300Everyone 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.

A scattergun approach to making credit applications, even if you see it as just shopping around, can have a negative impact on your Experian Credit Score.

When you apply for credit, a ‘credit search’ is recorded on your report. Numerous credit applications can suggest you are over-reliant on credit to supplement your income.

Try not to make more than one application in a three month period – more may negatively impact the way a lender views you.

If you are declined, you can contact the lender to find out why. There might be something simple you can fix to make your application successful the next time.

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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