How to look after your credit history

Many people think that the only thing lenders will look at is their credit score, and whilst this is a factor, this isn’t the only thing they look at. What really matters to lenders and creditors is the content of your credit report.

Credit Report Do’s

  • Do use an agency which stores your information from multiple sources: CheckMyFile  is a really good one which we use. You do have to enter your card information, but you can cancel once you have downloaded your ‘full printable report’ which will be at the bottom of the page.
  • Do set up a bills account so you can send the allocated amount you owe all to one account and the direct debits will individually come out, not interfering with any of your monthly ‘spending money’.
  • Do set up a direct debit for any debts you owe, this will avoid any defaults due to forgetting to pay.
  • Do use a calculator or checker to see if a creditor will lend you money before applying straight away, this will avoid you being declined which will negatively impact our credit report.
  • Do ensure you are signing onto the voter’s roll; this strengthens your history.
  • Do pay all utility bills and phone bills on time and ensure there is enough money in your account.
  • Do remember to change your details on everything if you change address or names, again, this makes it easier for lenders to find/follow your history.

Credit Report Don’ts

  • Don’t apply for a large amount of credit if you have already been declined. This leaves hard footprints on your credit report which negatively impact you.
  • Don’t forget to pay your debts, as you may incur a default which stays on your report for 6 years.
  • Don’t pay to see your credit report every month, we recommend that you check it every 6 months to a year as it’s good to keep on top of it, but don’t waste money.
  • Don’t pay to boost your credit score, again, it’s the content that matters and not the score, so this is a waste of money.
  • Don’t sign up to a lot of gambling websites, this will all be on your credit report as they do a check when you register.
  • Don’t register yourself to multiple addresses, this makes it more difficult for creditors to find your history.
  • Don’t take out credit cards or loans if you cannot afford to repay them in full (if you needed to), you may end up having to rely on these to get through the month and this can soon escalate when interest is added.
  • Don’t take out any finance you cannot afford. Everyone loves driving a nice car or owning nice things but if you miss payments, you will find it extremely difficult to get a lender who will accept you. You may also have to pay higher interest rates.
Find out more about your options by emailing  or contact us direct.