How to improve your credit rating
Tips to improve your credit score by Furness Building Society
Understanding your credit score
A gloriously high credit score - or credit rating as it’s also known - can unlock many doors. Conversely, finding yourself with a low score can leave you a little stunted and unsure of what to do for the best. In this situation, knowing how to improve your credit rating is crucial.
Affecting almost all financial decisions, a low credit profile can even result in certain life plans being unexpectedly shelved. So it’s something of a surprise that 72% of 18-24 year olds* have never checked their rating. But where does the score come from, what does it mean and how can you improve your credit rating? Here, we break down everything you need to know to get yours skyrocketing.
Things to note
Working slowly but surely on your credit profile over time, to get it where it needs to be before applying for loans and credit, is always recommended.
If you have a good financial profile, you’re much more likely to qualify for the lowest and best interest rates. Whilst your credit history may have opened doors for you in the past and you’ve been approved by your lender of choice, it’s always worth shining it up in order to get the best possible deals for you and your family moving forward.