| Real Life Strategies for Building Wealth
  • Having a good financial score is important.
  • There are easy to implement ways to improve your credit score.
  • A healthy credit score opens a whole host of opportunities.

Your credit score is an asset that is easily affected; both positively and negatively. It’s important to understand how you can improve your credit score, keep it healthy and, ultimately, use it to make life’s financial challenges a little bit easier. Having a good credit score would open you up to the best deals and interest rates the next time you’re looking for a loan, car finance or even a mortgage.

Details of your credit history are kept on file by credit reference agencies, and this information is accessed by lenders when you apply for credit. This will then help the lender decide whether you’re a suitable candidate to lend to. So, if they are able to see that you live where you say you live on your application and that you’ve made your payments on time previously then they’re more likely to approve you and give you a good deal.

The flip side to that is if you’ve struggled with credit difficulties in the past, this will show up on your credit profile and cause you to be seen as more of a risk. Check out this bad credit car finance guide for more information on bad credit.

There are many simple steps you can take to help improve your credit score including making your payments on time and even registering on the Electoral Roll as this is how lenders will determine where you live. It’s not uncommon for there to be inaccuracies in a credit profile either so you should also aim to check your report and fix anything that’s wrong.

Check out the infographic below if you’re looking for ways you can improve your credit score.

improve your credit score