As we specialise in all credit related issues, we’ve been able to help our clients with everything from mis sold PPI to dealing with a damaged credit score. You’d be surprised at how even the most mundane issues can cause you to be rejected for the smallest of applications.
First and foremost, for those uncertain as to what exactly ‘credit scoring’ is, it’s all about trying to predict your future financial behaviour based on how you’ve acted in the past. To help you look more attractive to a lender, we’ve listed some simple ways to help you look good.
Ensuring you make yourself look stable is a key way to help your credit score. Putting down a landline phone number instead of a mobile number, for example, allows lenders to see you’re financially fixed in one position and less likely to be moved around.
One sure sign to lenders that you have poor money management is evidence of withdrawing cash on your credit card. Not only is this expensive to your pocket, but it’s also a red flag to lenders that you can’t handle your money properly and this can result in any application you’re applying for to be rejected.
Timing your applications can save you a lot of grief. Major issues can stay on your credit file for up to six years, while smaller applications only stay on file for one year. It is advisable to avoid applying for anything if your current and previous applications over lap.
Avoiding Numerous Applications
Avoiding numerous applications can save your credit file from looking over active. Everything you apply for leaves a print on your credit files, so it’s important to prioritise your applications from large to small. If you have a large application coming up it’s important to make sure you don’t apply for any smaller applications.
Check Your Address
Another way lenders can catch you out and reject your application is if there are any errors in your address. For instance, if you have a device registered to a previous address though you still use it, this could make you look unreliable on your credit file, so it’s always best to change this as soon as possible.
Ensuring your credit history and files look good will greatly influence the decision to accept or reject any application you submit to lenders. For advice on any credit or debt related matter or if you believe you’ve been mis sold PPI, don’t hesitate to contact our friendly staff on 0800 011 2322 today.