There is a cool infographic about how you can improve your credit. Having a good credit is important even if you have no debt, because the day you will want a mortgage or a new credit card, the rate on said items will be a direct correlation of your credit score. Thankfully, with a few tips, you can get a better credit. When I first moved to the UK, I had no idea the electoral roll played a part in your credit score for example. After a first call to the bank, I asked the council to list me down on the roll and my credit improved. Having lived in the same place for a while also helps, so make sure you let your creditors know as soon as you move to a new home.
Do you have more tips to improve your credit score?
Brian @ Luke1428 says
I find it ironic that our society blesses people who have good credit scores, while at the same time, in many circles, looks down on people who never take out debt and pay only with cash. That seems messed up to me.
Pauline P says
That is weird indeed, people who have no debt deserve admiration, especially if they bought a house already.
Chuck@Tortoise Banker says
Great post! I find that when I talk to my clients (I work at a bank) about how to improve their credit scores, a quick run down of “what makes up a credit score” and a referral to bankrate.com to apply for a secured credit card does the trick.
We have a good credit score and like someone else mentioned this can sometimes haunt you. It’s one of those things I really don’t focus on but for many who are deep in debt it’s a big deal especially if they want to own a house or get more credit for whatever reason. Chance are though, they will get it.
Rita P @ Digital Spikes says
Yes agree that if you have to buy a house then most important number creditors or lenders will look is credit score and it is the main reason you need to have a good one or else no one will lend you money