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10 top tips to improve your credit score
We’ve gathered together a list of the top ten things you should do to improve your credit score. These apply to people in the UK, but the principles will be very similar to any country with central credit reference agencies.
1. Get a copy of your credit record – You’ll need your last 3 years of addresses including post code’s to hand. You can get them for a statutory fee of £2. from Experian or Equifax. Don’t be conned by the “free” offer which gets you to subscribe to a monthly fee service unless you really want to.
2. Register on voter’s role – This helps verify your address and that you are who you say you are.
3. Take out credit – If you proove you can manage credit and have some credit history, then you are more trustworthy. The last 6 months payment history on all products at a credit reference agency are often used to assess ability to manage credit. If you don’t have payment history you will be classified as a “thin credit file” and either charged a higher price or refused credit.
4. Open a current/checking account with the bank – This allows you to proove your income more easily as they can see it paid into the account and they also know where to find you if you can’t pay it back. This is a good option for those new to credit.
5. Pay on time – Paying late is used as a sign that you may be in financial trouble. In the industry it is called “one down”. If it happens only once, you are usually ok providing you pay on time every time after. Paying over a month late (“two down”) means you have a much stronger chance of being bad credit. Avoid these problems by setting up a direct debit or recurring payment on a date soon after your salary enters your current account.
6. Don’t go over your credit limit – This is used again as a sign that you may be in financial trouble and is built explicitly into credit scorecards.
7. Close down lines of credit you aren’t using – Banks can see the total credit line available to you from all other banks. If you already have plenty of credit line, they may give you a smaller one or refuse credit when you try to get more. This is an attempt to stop “bust out” where a person maxes out everything at once.
8. Don’t max out the line available to you – This almost contradicts the point above, but customers that have high usage (“utilisation”) of their credit line are also likely to be bad credit.
9. Serve a notice of disassociation if needed – Credit agencies will financially link people with the same surname at the same address so if you live in a rented flat that has had someone with the same surname there or you live with adult family members that you aren’t married to, you may wish to serve a notice. There is advice on this on the experian and equifax websites.
10. In financial difficulty? – If you are having difficulty meeting your payments, firstly use our budget calculator to understand your incomings and outgoings and see if you can make cutbacks or boost income somehow, then read the Bad Credit page where you can consider your options.
Payday Loan Online – For Your Convenience
There are a lot of reasons that people choose Payday Loans Online when they’re in need of quick cash. You can apply for a loan twenty four hours a day seven days a week. There’s no having to find a payday advance office and work around their business hours. Online lender’s are always open!
It’s easy to apply. Just click on the link, and it will take you to the application. It takes no more than two minutes to fill out, and you find out almost immediately if you’re approved. Since the application is online, there’s no stack of paperwork to fill out. You don’t have to take in copies of paychecks or bank statements, or even write a check!
You don’t have to wait long to get the cash you need. Once you’re approved, the money is deposited into your checking account in as little as one hour. If you apply on a weekend, then the money is deposited on the next business day. You don’t have to wait for hours, much less days, to find out if you’re even going to get the loan.
There’s no credit check. Sometimes things happen that cause us to have less than perfect credit. When this is the case, it can be almost impossible to get any type of credit, much less a loan. With a Payday Loan Online, that’s not a problem.
There are only three qualifications. If you are of legal age, have a current checking or savings account, and a stable source of income, then you may qualify. It doesn’t matter if you get paid weekly, biweekly, or once a month. If you don’t get your money from a job, but have another steady, verifiable source of income, you may still qualify.
A Payday Loan Online can be from $500 to $1500. You don’t have to borrow the maximum you qualify for, only the amount that you need. Since you don’t have to verify what you use the money for, it’s up to you how much you borrow and what you use it for.
Since the Payday Loan Online is applied for, approved and repaid online, you can complete the whole process from the privacy of your own home. Or if you’re away on a trip and need cash, all you need is internet access and you can get the money you need in as little as one hour!
There are lots of types of people who use Payday Loan Online for a lot of reasons. Emergencies and unexpected expenses come up all the time. Since a Payday Loan Online is a short-term loan, there are no long-term payments or interest rates added on to the balance. When your next payday goes into the bank, the amount of the loan, plus a small fee, depending on the amount you borrowed, will be withdrawn from the same bank account.
To sum it all up, a Payday Loan Online is for your convenience. It is fast, easy, reliable, private, and is always there when you need it. Just click on the link, and see if you qualify for a Payday Cash Advance!