MoneyonmymindwithMartin Lewis

MONEY ON MYMIND…

withMartinLewis

He’s theUK’s leading money saving expert –ajournalist andpresenter whohas kept millionsofpoundsinpeople’s pockets,as wellaslifting the lidonthe threatsanddangers we need to be awareofas consumers.In thisarticle,Martin looksathow we canrepair our creditscore. Let’sbe honest,thelast couple of yearshaven’tbeenkind to ourfinances.Thegood news istheabilitytorescueand repair that credit ratingiswithin our ownhands,andwith aconcerted plan we can getbacktowhere we want to be. Andthat’simportant–having agood creditrating means gaining access to preferentialinterest rates;it couldbethe differencebetween beingableto buya house, or rent aflat, or not;anditalso givesuspeace ofmindthatifan emergencycropsup we can lean on financialsupport. When itcomestoimproving ourcreditscore,first checkyour currentrating –withthelikesof Experian or Equifax –and know what you’redealingwith.When you’vedonethat,seeabout disassociating yourselffrom otherswho maybepulling you downwiththeirown chequered credithistory– theiractivitymay be negatively impacting yours. Next, getyourselfsignedup on theelectoralroll.It’s agreat wayfor creditagenciestobeable to verify whoyou areandadds alayer of authenticityto anyapplication. Spring cleaning yourfinances isanother reallysensible option. Manyofushaveold creditcards or bank accountsthat we don’t use.They mayseemharmless on thefaceofit, buttheyall representriskasfaras your creditscore isconcerned. Next,startinvestingin your creditfuture.Using acredit cardmay seema peculiar wayofimproving your credit, butdonesensibly itwill.And by sensibly,I meanuseit for everyday purchases on the specificunderstanding you’ll clearthebalanceattheend of each month.Doingthiswill boost your credit ratingand provetoany lender that youcan betrusted. Finally,if youcan’t afford to clear yourfullbalanceatthe endofthemonth,at leastpay off more thantheminimum payment. Mending your creditscore won’tbe achieved overnight,but yourfutureselfwillthank youfor yourefforts today!