There are two main reasons that Glo customers come to use and ask how they can build up their credit history. This can be of paramount importance when it comes to acquiring credit down the line and it is actually easier that one might think.
One group of customers are those who have got into trouble in the past with their finances and need to rebuild their profiles. We will come to them another time but this article will look to help anyone who has never borrowed before and wants to show lenders that they have a good credit history. So, what is the best way for you to build your credit rating up?
Check Your Details Online
Apart from obviously ensuring that you don’t fall behind on any of your bills, there are a few out of the box ideas available for anyone looking to build up their credit rating. Firstly, you should take a look at your reference files. There are quite a few reputable services available such as Equifax, Experian and Noddle, and they have lots of information available about your financial conduct. It is a good idea to check this information annually to see how you are getting on. As well as helping you to see where you are performing or potentially not so much, you can also see if there is any erroneous data here, this does happen from time to time.
Find a Good (Re)Builder Credit Card
A lot of the problem with someone who hasn’t borrowed before, is the fact that lenders cannot ascertain how good you are with your money. So, whether you need a credit card or not, getting a builder card can be a good way to build up a positive footprint. By getting one of these and making sure you make all your repayments on time, you are building up a nice little financial resume. This will mean that you can apply to bigger and better lenders in the future and increase your chances of getting a positive response. This will even help when applying for serious credit such as your mortgage.
Sign Up to Vote
You’re probably sat their thinking hey? What does this have to do with my credit rating? Well strangely enough it does. Even if you have a perfect score on one of the credit reference agencies, not being registered to vote can seriously hinder you when applying for some forms of credit. This is due to fraud scoring and it is very easy to get yourself onto the electoral roll. Just find your local council online, download the form and send this back. You will find that once you have done this, you are a far more attractive proposition to a whole host of lenders.