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Registering to vote and four other ways to help your credit rating

If you want to exercise your right to vote in the upcoming local elections, you have to make sure your name is on the electoral roll.

But did you know that being included on the official list of people allowed to vote also helps strengthen your credit rating?

Every time you apply for credit such as a mortgage, insurance or credit card, the provider checks your credit record. If your rating isn’t up to scratch there’s a good chance you’ll get turned down, which in turn makes your rating worse still.

But there are things you can do to improve your rating. Here are five to get you started.

1.     Register to vote

If you aren’t registered to vote, it makes it difficult for lenders to verify your identity. Getting on the electoral roll helps here. Make sure you re-register if you move house.

If you want to vote in the local elections, you must register before 17 April 2018. If you miss it you won’t be able to vote at this election, although it will still help your credit score.

 

2.     Stop applying for credit

If you’re repeatedly getting turned down for credit, stop! Your best bet is to get your report fixed as every time you get rejected, it’s damaging your score.

3.     Check for mistakes

You can get copies of your report from all three of the main credit agencies for £2 each, though there are also ways to check them for free. It’s worth looking at them to see if there are any errors such as old addresses or a fraudulent application for credit in your name.

4.     Close down credit you don’t use

Lenders look to see what you have available. If there are cards you don’t – and won’t – use, close them down. That doesn’t mean just chop up the card, though you should do that too. Call the provider and tell them you want to cancel the card.

5.     Pay on time

From credit card bills to mortgages, making payments on time is a way to avoid black marks. It tells the lender that you’re a safe and sensible borrower, and that makes you less of a risk.

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  • sisson lake / 10 July

    i know there are numerous reputable credit repair company out there,which ever one you choose to hire depends on your urgency and who your referral is!This is my first attempt to hire the service of a credit expert,the fact is,i have been in my best club of 779 for years but all got shattered when i fall victim of fraud from a business partner, which led to nonpayment of my monthly rents which accumulated for roughly three months,making me a debtor with collections of inquiries.The credit expert,i hired told me how hes gonna add TRADE LINES,delete all collections and improve my score.To be honest with you,i told him i dont care how hes gonna do it,he should just make me clean,i got charged and the process began on my report,at intervals of my work he sent a screen shot showing me how far he had gone.At about 73 hours,i was referred to check my report and i found all debts cleared and score raised.i indulge those seeking for assist should contact....... Hackmania_9@(outlook .com)..

  • thomas fritz / 28 June

    Hello there contact petpark321 on gmmail to help with your credit score issues.I had a problem after i faulted on my payment for 6 months .by credit score dropped and i meet peter in a tech summit and he helped me fix my credit score to 750 in 48 hours.he helps people who lost money to binary options refund ,forex trading scams , romance scams , wire fraud .contact him , he can help you.Cheers

  • john q / 28 June

    Hi there

  • Yogesh Vedd / 25 June 2015

    Very good tips and advice that you offer. However, I failed to notice why frauds or identity thefts are not reported by creditors on credit files. I fought with creditors to report of scams and identity theft including one that affected me personally that has not been reported onto my credit files. I followed the guidelines as report by Credit Experian and worked with one officer from the company to report of identity theft. Failed to see any mention of this as an online fraud activity on my credit report. What advice can you give and who is responsible for correct entry as I reported matter properly to the correct parties who failed to check their accounts and files. Who is responsible for making entries when fraud or identity theft is reported to the banks and creditors?

  • ellen shide / 5 February 2015

    Totally agree