Quickest way to increase personal credit rating?

[SGPS]

Hi there

How would i go about increasing my credit rating?

i have no successfully settled non-mail order accounts according to credit expert, would i be correct in thinking if i took payday loans and payed them back instantly would that go in my favour?

Dont know where the above thought came from as i dont need any money, but would it work?

 

[vvaannmmaann]

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

 

[yourcreditmanager]

Hi

Have you alrready got copies of your £2 credit file reports from Experian and Equifax, the two biggest players in the consumer credit report market to analyse? If not, that would should be your first port of call - the link provided by the poster above is excellent and gives you all the information on how best to do this.

Rather than acquiring pay day loans which would incur a fairly hefty interest charge, check to see if you can get can you not get apply for a Notice of Correction to be entered against any entries in your report that you think are onnerous or incorrect or requesting a certificate of satisfaction for any County Court Judgments that have been fully paid off (I'm not suggesting you have had CCJ's - just say in case you had...! ) in order to improve your credit rating.

Be especially careful of applying for two many sources of credit at any one time as this will most likely involve a financial search that appear on your credit file. Too many of these can give the perception that you are applying for so many sources of credit because you have limited funds which in turn could be detrimental to your credit rating, thus compounding your problem to begin with.

I hope this helps.

Michael

 

[SGPS]

Brill thanks for the advice.

No my credit history is perfectly clear. I have never had anything on credit and never needed, but the time will come. So im just making plans in advance.

I have no ccj's or any footprints on my report. I only opened my first bank account 6 months ago.

But it seems as i have no financial history it it doesnt seem to have done anything for me either.

I shall look throught the link thanks!

 

[wispafish]

Well thats the problem. Youre credit rating can only get better by being in debt and paying it off. Take a couple of credit cards out and things that you pay for cash or switch use youre credit cards instead and then pay of the full balance everytime the statement come through.

 

[Multi-store]

make sure you're on the electoral role, that always helps and wont cost you a penny

 

[Multi-store]

except for a stamp!