Here are 3 steps for improving your credit rating..
Register on the electoral rollSomething so simple could give you a bad credit rating as credit reference agencies need to know you are who you say you are in order to lend you money. Your presence on the electoral roll is one of the key factors in determining your identity.
Pay back new credit successfullyIf you have a bad rating, you want to get a credit card to show you can pay it back on time, which will improv your credit rating. You will more than likely only get a credit card with higher interest rates but it will help in the long run if you keep the payments up to date. Then when your score is up, you can go for regular credit cards such as the ones from TSB.
Apply for credit sparinglyDon't just apply for lots of credit cards hoping one will be accepted.. this is seen as a negative more by lenders which will not improve your rating at all. Only apply for the most suitable cards and no more than 3.
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