Tag Archives: credit scoring

5 top tips to improve your Experian Credit Score

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.

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. 



It can also help you keep an eye on your progress while you maintain or improve your credit score before you apply – and here are our
five top tips to help you do that.

Tip 1 – Stay within credit limits and keep balances low – The lower your overall balances (not including mortgage), the better. If you can afford to pay off a bit more debt and you want to improve your Experian Credit Score, reducing the balance on your credit cards and overdraft can be useful. Close unused credit accounts if you don’t use them anymore, as lenders can take into account the credit limits available to you, not just what you owe at the moment.

Tip 2 – Try not to make too many applications in a short space of time – 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.  Each application is recorded on your credit report and if lenders see lots in a short period, they could think that you’re desperate for credit or suspect fraud. 

Tip 3 – Set up direct debit payments to make sure credit bills are paid on time – Missed or late payments stay on your credit report for at least six years, and this can have a big impact on your score.  Regular payments on time can help build up a good credit account payment history. 

Helpful guides from Experian about credit scoring

Tip 4 – Register to vote at your current address – Lenders use the electoral register to help confirm who you are and where you live. 

Tip 5 – Review your credit report regularly – Make sure it’s up to date, and that the information on it is accurate. If you do find anything that needs correcting, contact the relevant lender and ask for an amendment – Experian can also raise a query on your behalf. Even small details like the way your name and address is recorded could have a significant impact. Also check your financial associations with other people.

Where can I see your debt maps featured on BBC?

Dear James,

I watched the BBC Breakfast News this morning and a man from Experian was on there, discussing an interesting report that Experian created about UK debt by region. There was also a map of the UK shaded to indicate the regions that had debt and he also mentioned age groups within those regions. I have searched the web and BBC as I would like a copy of the report, is it possible to come back to me as to whether the report is available or where I can find. .

Thank you, Emilie, Hythe

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How your credit report can help you Budget

So long, old pound coins..

So long, old pound coins..

So the Budget is here at last, and what does have in store? We’ve seen announcements on taxes, childcare, fuel prices, and even the arrival of a brand new £1 coin. And Mr Osborne has suggested that “If you’re a maker, a doer or a saver: this Budget is for you.”

Most of us will be affected in some way by the changes that have been announced, but how can we do our own Budget to help us understand, protect and take steps to improve our own finances?

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