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Creditfix LB 03-2017

Boost Your Credit Score In 2018

As the new year begins it makes sense to study your financial position and if necessary try to improve your credit score.

Many people have been refused credit at one point. There can be a variety of reasons for this.

Possibly you have had some financial problems in the past which are reflected in your credit score.

You may even have never borrowed and therefore never defaulted on payments. However, this also can result in a bad credit rating, as there is no credit history to judge by.

If you find yourself afflicted by a bad credit score, there are some measures you can take to help improve it.

Pay debts

If you have outstanding debts then that is obviously the place to start. Always pay more than the minimum payment on debts – this shows good intention to any future prospective lender.

Close unused accounts

Prospective lenders will obviously consider any outstanding debts you have, but they will also consider any credit you have access to – credit cards, store cards, etc. Ensure that you contact the credit provider to close the account completely so that it cannot register towards your credit score.

Register to vote

By registering on the electoral roll, credit reference agencies and lenders can confirm that your personal details are correct, and you live where you say you live.

This can be one of the most effective measures towards a good credit score.

Separate from financial partners

If you share a bank account or mortgage with a partner, and they have a bad credit rating, it can impact you. If possible, cut any financial ties so that you are no longer linked.


Surely that’s what you were trying to do? However, particularly if you suffer from no credit history, but even if you have had financial problems in the past, there are credit cards and loans available to help build your credit score.

By taking out credit from these sources and paying back on time, you can greatly improve your credit rating.

It is never nice to be turned down for credit, but there are actions you can take to help improve your chances of obtaining credit in the future.

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