10 Ways to Improve Your Credit Rating

9. Avoid transferring balances onto one credit card

This tactic seems like a sensible one, and unless you’re able to save a very large amount on interest charges then this should not be attempted. The reason? Having an exceptionally large balance even on one credit card, even with on time payments has a negative impact on your credit rating. Providing that all the interest is reasonable then you are better off amassing smaller amounts of credit on numerous cards, whilst keeping up with your payments on time, allowing your credit score to improve vastly.

Our advice? Avoid.