10 Ways to Improve Your Credit Rating

A credit rating is your ability to obtain… well… credit, from credit cards and loans to mortgages and everything in between, having a good credit rating allows you to get the best deals when borrowing money. A bad credit score however, can have quite a negative effect, with higher interest rates to pay or even flat out refusals to borrow money, your credit rating will always play a big part in your life, and here we list 10 ways for you to improve your credit rating.

Here’s to a happier, financially secure future!

10. Only apply for credit when you need it

Applying for numerous types of credit (credit cards, loans, store cards etc) over a short period of time is very detrimental to your credit rating with experts suggesting that credit should only be sought after when needed. Even obtaining credit via a clothing store on a small purchase counts towards more opened credit, because your credit file is searched, leaving a negative footprint behind. Unless you are the kind of person with an exceptional amount of money in the bank, or someone who has been “saving for a rainy day” we advise to stop applying for credit as it will save your credit rating in the future.