My husband and I are applying for a mortgage. I have never taken out any loans. Bills have all always been in my husband's name - water, electricity, gas, phones, wifi - everything. I have one credit card with a credit limit of £5300, which I use to pay for all our day-to-day expenses but it's always been paid off in full at the end of every month. I have an overdraft of £250 on my current account that I've never used and an overdraft of £300 on our joint account that we've also never used. I've never missed any kind of payment for anything. The only hard search ever done for my credit was for our mortgage application.
Despite this, my credit rating is 471. The online tracker says I'm doing everything right - I'm on the electoral roll, never use more than 20% of my credit limit at any time, never defaulted on anything, never missed payments, never made payments late, never only made part-payments...
I'm worried that having such a low credit score will impact our mortgage application but I have no idea what I'm doing wrong.
Does anyone else have this problem? How do I boost my credit rating?
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8 replies
CreditCrackers · 28/06/2020 18:10
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