Tag Archives: improve credit score

How can I improve my 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. Some simple steps can help you improve your credit score:

  1.  Stay within credit limits and keep balances low – The lower your overall balances (not including mortgage), the better.
  2.  Try not to make too many applications for credit – each application is recorded on your credit report – the fewer you’ve made in the last 6 months, the better.
  3. Make sure all bills are paid on time – Missed or late payments can have a big impact, but paying on time can really help your score.
  4.  Register to vote at your current address – lenders use the electoral roll to help confirm who you are and where you live.
  5. Review your credit report regularly – make sure it’s up to date and in good shape for when you’re ready to apply for credit.

It can also help you keep an eye on your progress while you maintain or improve your credit score before you apply.

Continue reading

Ask James: latest credit questions answered here

Every month Experian’s James Jones answers a selection of your questions about credit and fraud in his ‘ask the experts’ style column here.

Among the new questions, there is Should a default still be showing on my credit report?, about an old default that was due to disappear.

There is also a query about car finance and credit scoring,  Will voluntary termination of car finance affect my credit score?, and another relating to a debt relief order, Why is my debt relief order still affecting my credit rating?.

You can also find archived Ask James questions arranged under subject headings such as ‘applying for credit’, ‘credit and debt’ and ‘fraud’ at the main Ask James page.

If you have a specific question and can’t find an answer here or you wish to contact us to query something on your credit report, please use our customer service contact form.

Watch James talk to Experian Experts blogger Darren about retirement and your credit report.

National Voter Registration Drive

Are young people engaged enough in politics and democracy? National Voter Registration Drive (1-7 February) aims to increase voter registration among the young – something that could also improve their chances of getting credit and a wide range of online services.

Bite The Ballot, a youth-led grassroots campaign formed in 2010, runs National Voter Registration Drive, and last year’s campaign saw a world-record breaking 441,500 people registered to vote.

Are the young registering to vote?
New Experian research has found that the number of people in the UK who will turn 18 this year on the electoral roll fell by 1.69 per cent compared to 2015’s coming of age voters.  56.7% of local authorities have seen the number fall this year. Continue reading

Experian Credit Score top tip #3 of 5: Set up direct debit payments

tip 3  - 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.

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. Continue reading

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. Continue reading

Experian Credit Score top tip #1 of 5: stay within credit limits

tip 1 - 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.

Do try to stay within your credit limits and do try to pay your credit bills 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. Continue reading

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.

Is your credit report missing information?

By Neil Stone, Experian UK social support team

credit-score-report-history-300x200I’ve been looking to get some improvements done around my home lately. The kitchen has been looking a bit tired so I was thinking about getting a loan to cover the cost.

Before I even contacted my bank, I checked my credit report to make sure that all of my accounts that I expected to be showing were on the report. The more information a lender can see the better picture they will have of my credit history. If you have well run accounts then you want to be sure the lender can see them!

There are times though, when information that you might be expecting to show on your report doesn’t appear. Continue reading

Why your credit score matters – and 5 tips to improve it

Your credit score is often seen as the key that could unlock access to better credit deals, mortgage approvals & more. But who decides your credit score? And what are the factors that most affect it?

When you make an application for a loan, credit card, mortgage or other type of credit (such as a new utility contract or mobile-phone account), lenders look at your credit report to work out a credit score for you.  They do this so they can judge for themselves if they think you’ll be a responsible borrower and likely to repay what you owe them.

There is no ‘one’ universal credit score. Different lenders can score differently, using their own formulae based on their own factors – there really is no ‘magic number’.

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, and can give you an indication of what kind of loan you might get. Usually, a higher score means you’re seen as lower risk – meaning you’re more likely to get credit, and at better rates.

Your Experian Credit Score is not set in stone – it’s a living, breathing thing and it changes along with your own financial behaviour. Getting your credit score up could open up the potential chance to get better loans – and at better rates.

5 tips for improving your Experian Credit Score

  1. Do try to stay within your credit limits and do try to pay your credit bills 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.
  2. Credit scoring can also look at the average age of your accounts, so try not to chop and change all of your accounts on a regular basis.
  3. 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 dispute on your behalf. Even small details like the way your name and address is recorded could have a significant impact.  
  4. Don’t resort to a scattergun approach to credit applications, as each application is recorded on your credit report and if lenders see lots in a short period, they could think that you’re desperate or suspect a fraud.
  5. Make sure you register to vote at your current address, as lenders use the electoral register to help confirm who you are and where you live.

Talk to us
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 9am to 8pm. Saturdays 9am to 5pm.

You can also send in general credit or ID Fraud questions to James Jones, our Head of Consumer Affairs, who regularly answers queries on his popular Ask James column – a selection of which we regularly feature in this blog.