Best Ways To Improve Your Credit

If you are reading this, then it is likely you find yourself wondering what to do if you have bad credit and the best ways to improve your credit. Hopefully below we can go through some recommended steps that you can take to get yourself on a path of improving your credit score and maintain it.

Quick Summary

Step 1: Sign up to Experian for a 30 day free trial and check what areas of your credit score need improvement.

Step 2: Start the monthly £14.99 payments and stay on top of your credit ratings by analysing your report.

Read on for more details…

Step 1 – How to find out my credit score?

30 Day Free Trial available which will give you a great insight into what areas of your credit score you need to work on in order to improve your credit score.

Free Credit Reports

Do you find yourself being rejected for credit cards, finance options or loans? Then it is likely that you have a poor credit score in the eyes of the credit agencies.

If you have not done this already, we highly recommend taking out the 30 day free trial that Experian offer here. This will give you an invaluable amount of data if you are going to work towards improving your credit score.

Things to look out for are any notifications that show up that are having a negative impact on your credit score. In our experience, some of these can actually be tackled right away and include updating your address history, ensuring you are correctly registered on the electoral roll and checking which debts/credit cards/loans you have are having a negative impact.

Tip: Check your associated credit checks on your account because too many credit checks on your account within a 3 month and 6 month period can have a negative impact and the only resolution to this is allowing the necessary time to pass so that they move to 6months and therefore are not factored into your credit score.




Step 2 – What is the best way to improve your credit?

Now that you have access to your Experian credit report and it shows you have a ‘Poor Credit Score’ or worse, the question is; what can you do to begin improving your credit score?

It is a scenario that a lot of people in the UK find themselves in and there is NOT in our experience a great deal of help and advice about what you can do to turn it around. It can feel like a viscous cycle where companies will not lend you money, which means you cannot ‘prove’ you can repay the loan and as a result you find yourself stuck in this cycle and wondering how to improve your credit.

Fortunately, we have found a company who can help by issuing you with a MasterCard (with Instant Acceptance and Guaranteed Approval) and they will lend you £71.40 which you repay in monthly payments of £5.95 each month which are then reported to Experian as though you are successfully repaying a debt. This is invaluable feedback to the credit agencies that you are able to repay a debt and over time you will build a history of making repayments on time and will improve your credit score over time.

Instant Approval | Guaranteed Acceptance - Begin rebuilding your credit with the CashPlus MasterCard. They will lend you £71.40 which you will repay £5.95 each month for 12 months and your successful payments will be reported to Experian helping you to build a history of successful repayments.

Prepaid Cards
Representative example: Amount lent by APS: £71.40 for 12 months, 0% interest. 12 monthly payments of £5.95. Total amount payable: £71.40. Representative 0% APR.

These are the first steps you are taking to rebuild your credit and it will not take effect over night. However, this is certainly one of the best ways to improve your credit and we have seen great improvements in as little as 6 months – 1 year so if you are looking to get your credit score back on track we highly recommend this route.

9.5 Total Score
CashPlus Review - Why You Should Get Started Today

There are not many options available to people who have found themselves in a spiral of credit rejections and that will give you the opportunity to prove yourself. We found MyCashPlus MasterCard a very good prepaid credit card which will benefit your credit score.

Overall Cost
10
Repayment Options
9.5
Impact on Credit Score
9
Acceptance Rate
10
PROS
  • Small manageable cost each month
  • Only initial cost of £5.95 as they loan you the rest that you are paying off.
  • Instant Decision & Guaranteed Approval
CONS
  • Only take this offer out if you can make the £5.95 payment every month because a missed payment will likely result in a further negative impact on your already poor credit score.

Lastly, as a final tip to improve your credit – do you currently pay rent on time?

If you do then you should register at CreditLadder.co.uk and pay your landlord/agency via CreditLadder. We have personal experience with them, they are a great company and they will report all your rent payments that you make on time to Experian which will further boost your credit score.

We wish you all the best and remember; look after your credit score!

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