How do I get more positives on my credit score?

[JustMarriedAndLovingIt]

I am looking to buy with DH this year and my score is currently 471/700. I have the following 10 positive things shown below and no negatives. The highest my score has ever been is 508 but it went down when we moved and had loads of credit checks for rent/utilities etc. Does anyone have any suggestions as to how to get more positives and hopefully increase my score?

You have no Court or Insolvency data
You have no accounts in Default or Repossession
You have been on the Electoral Roll at your current address for a long time
You have made very few applications for credit in the past year
You have held at least one of your accounts for several years
You have very few / no accounts in arrears
Your largest credit card limit is relatively high
You have stayed within your credit card limit in the past year
Your total credit card % utilisation is relatively low
Your current Telecoms balance is relatively low

Why does it matter ?

Seriously, I've never looked at my score, I just bumble along.

The higher the score the better rates you can get. If you have never looked at your score then you should. There could be mistakes which could affect your ability to get credit in the future.

The score will be different on every credit checker - experian, Equifax, noddle. The figure itself isn't what is looked at by lenders, it's the monetary figures and any defaults.

Has anyone suggested that your credit score is a problem?

Pay off any credit accounts you have then use them for your weekly shopping etc then pay it straight off.

If you have a couple of credit cards that you do this with, It will up your score. Also the obvious ones, dont have too many credit checks in a short space of time, dont go overdrawn or miss any payments
Good Luck :)

I think you are worrying about nothing. Lenders have their own criteria.

The higher the score the better rates you can get.

That's an absolute myth.

Lenders all use their own criteria when deciding who to lend to. It has nothing to do with a made up score on these sites.

Hope you haven't been paying to get these scores.

The higher the score the better rates you can get. If you have never looked at your score then you should. There could be mistakes which could affect your ability to get credit in the future.

Sorry but that is just not true.
Mortgage lenders are MUCH more interested in sources of income and proof of affordability under their own criteria.
I sign the accountants certs for clients and I know that income multiples are their primary concern.

Clearscore is brilliant (and free!)

But still irrelevant to getting a mortgage

I’m only asking out of interest. This is from Clearscore. I find it all a bit mythical for want of a better word. I pay all my bills on time, do all the suggested things but although the score isn’t low as such why isn’t it higher? I don’t expect an answer but just wonder how people get the golden ‘700’ What things should I be aiming for on my score?

Not ‘on my score’

That should be.....what should I be aiming for on my positives?

@TalkinPeace Out of interest, what part of what I said was untrue? Martin Lewis says it.

Martin Lewis says it.
Still does not make it true.

As I say, I sign income certificates for clients and when we are sorting their tax returns the criteria used by lenders are reviewed.
Credit ratings are generally hogwash for mortgages
as each lender uses their own system
and the ratings companies do not agree anyway

I've had massive run ins with them back when I used to need to borrow and a lot of what they say about people will need to be deleted once GDPR comes in

Mortgage interest rates are down to LTV.

How will GDPR affect credit ref agencies TalkinPeace? I've googled it but it wasn't clear?

Some of the data they hold or at least some of what they held about me was incorrect opinion that was being used for other than the purpose intended

it will be the sources of some of their stuff that will get them in the poo

Interesting thanks TalkinPeace!

Yes, your score is just a marketing tool that no one sees apart from you and the agency that provides it.

The main thing to make you attractive to lenders is mainly to have no late or missed payments. Once these are on your record, they take 6 years to drop off.

Next is to show that you can be responsible with credit, maybe have a phone contract (sim only is fine) and a credit card that you use responsibly and pay off regularly (not just minimum payment). Equally lenders don’t like you to have access to lots of credit (ie having 20k of credit card limits), even if you don’t use it.

Finally make sure you are on the electoral register..... this is important!

Finally make sure you are on the electoral register..... this is important!
But a tad tricky for quite a few people .....
I did not go on the roll until long after I bought my last house.
It would have been a crime if I had put myself on it.

Talkin....... why was that?
If you’re genuinely living somewhere I don’t see what the problem is.

Most potential lenders will turn down applicants straight away if they’re not on the ER.

Not British
Nor are quite a few other people in this country.

Most potential lenders will turn down applicants straight away if they’re not on the ER.
In which case they are breaking the law and will get busted by the ombudsman.

In which case they are breaking the law and will get busted by the ombudsman.

Do you have a link detailing this please?