Tips to Improve Your Credit Score

If you want to apply for a low APR credit card, but have been rejected in the past, you may want to improve your credit score. Fortunately, this is often easier than it sounds.

First, you should ensure you check your credit files regularly. It costs just £2 to see your credit file, which is the basis for many decisions by banks and credit card companies.

Make sure you check every detail carefully. If there are any errors, ensure that you correct them by contacting the credit agency. Even if the agency refuses to change the details, you can add your own notice of correction to you file.

Ensuring that you credit file is correct and up to date can help to improve your credit file.  Ensure that you get your credit score free when analyzing your results.

You should also ensure that you are registered on the electoral role, as this will help boost your credit score. Other simple ways to boost your score, and improve your chances when applying for a low APR credit card, include having a land line telephone installed, cancelling old, unused accounts and ensuring that repayments are made in time.

These will all make you more attractive to credit card companies and other lenders.

You should also space out any applications for credit. If there are a lot of applications at once, which all require checking your credit score, this can hurt your score. Instead, wait a few months after applying for a car loan before you apply for a 0% balance transfer credit card or a mortgage.

However, you may still be rejected even if you have a healthy credit score, if the lender does not think they will make a profit from you. For example, if you always switch to 0% balance transfer credit cards to avoid paying interest, the credit   card company won’t make any money.

After all, credit cards companies, even if they offer low APR credit cards, still want to make a profit.