Your credit rating can affect your ability to borrow money using products such as credit cards, loans and mortgages. If your credit rating isnít in the best shape there are things you can do to build it up again and fix any problems.
Your credit rating is used to help lenders decide whether to lend you money, how much to let you borrow and, in some cases, how much interest to charge you.
If your credit score is poor or you have no history of borrowing for lenders to see, there are urgent steps you can take to get better your credit score.
- Stop applying for credit
- Get on the electoral register
- Cancel unused credit cards.