If you are looking for loans and mortgages then without a good credit score it can become quite a feat for you. Not just that, you should keep a good credit score in general. You need to keno what is impacting your credit score and how you can fix it in the least time possible. Take a look to know how that can be done.
Not being on the electoral roll
This could be one of the reasons which could be reducing your credit score but this is pretty easy to rectify. All that you need to do for this one is to register with your local council. Then the lenders will see the address of where you reside.
Taking out a lot of credit at once
If you make a lot of credits simultaneously or one after the other then it doesn’t look really appealing to the lenders. This can suggest that you are desperate to get the money and this also gives the lenders an idea that you are relying a lot on the credit in an attempt to manage your finances.
Using too much of the available credit
For some of the money lenders, they want the borrowers not to use over 25% of the total credit limit at one particular time. If you wish to improve the credit score then you can actually repay a part of the credit limits so that you sit way below the 25% you have spent.
Having a lot of available credit
Even though this sounds weird but if you have a lot of empty credit card then it might look bad for you. They will worry that you will take on more credit with the other empty credit card that you have so you will not be able to repay them any money.
