Increasing credit score

[Tensun15]

Has anyone had experience of going from a poor credit score to a good one?

What did you do to better your score and how long did it take.

Advice would be greatly appreciated xxx

Hey I did. I went from very poor to good. 1.Stop applying for credit full stop

1. Pay off all debts monthly rather than in full
2. Wait for any defaults/CCJs to drop off
3. Wait for your bank to offer you a credit card it’ll be on high interest but take it & use it every month (pay it off every month)

This will take a long time but it’s worth it

Good luck OP

Apologies forgot to say it took me 4 years but I went from not being able to even get a contract phone to applying for a mortgage next year

Yes, I went from a very poor credit score to buying a house with a mortgage this year.

Get a budget that works for you so you stop needing credit for normal life expenses.

If you don’t have a credit card get one (I got an aqua card, they accept people with very bad credit scores) and use it for a set amount each month and make sure to pay it off in full each month.

It will depend what is causing your score to be bad. For me it was an overdraft that I maxed with a bank and then defaulted on. Even when I payed it back it still stayed on my credit record for 6 years.

So you have to wait six years for the really bad stuff to fall off. I literally went from very poor to good/excellent overnight when the overdraft default fell off.

Sign up to credit Karma, clear score and Experian credit check. These are all free you do not need to pay for the extra services they offer. Clear score gives you reasons in bullet points why your credit score is low.

It’s helpful to know what affects your credit score and what doesn’t. For example the amount of savings you have definitely does not affect your score but whether or not you are on the electoral role does.

I read a lot when I was trying to improve mine so happy to explain anything further

Your score is irrelevant, lenders can’t see it, only your credit history.

Thankyou for all the fab advice.. if you remember anymore tips let me know.

I have a few defaulted accounts that are due to drop off my credit file within the next 12 months...

Thankssss

@Tensun15 if your defaults are going to drop off your record you score should improve a lot then.

You also need to show that you can manage credit well, which is why getting a credit card if you don’t have one is a good idea.

Always keep the amount you spend on it to less than 10% of the total amount you can borrow and always pay it off in full each month.

I can’t recommend enough signing up for all three of the credit monitoring apps I mentioned above. There are only 3 licensed credit agencies in the UK Experian, Equifax and Callcredit, and they all have a free way you can check your score.

Equifax is ClearScore

Experian is Experian CreditMatcher

Callcredit used to be Noddle but recently rebranded as CreditKarma.

They all really helped me understand what gets taken into account and what doesn’t when calculating your score.

Good luck! It definitely can be done