Today having a good credit score matters more than ever. It’s not about access to better credit cards with enhanced perks (though that’s true too). A poor score means you’ll pay more for your car, house, even renting and securing a job often requires a credit check.
Good news: nobody starts out with a high score. They build it and there are smarter ways to increase it faster. It doesn’t require a high income, or even a moderate one.
Good scores are about your financial habits and the signals you send to credit companies. We’re rounded up our top tips for anyone who is ready for better credit.
1. Increase your credit scores instantly, for free
This only became possible in 2020 when Experian launched Experian Boost. It uses open banking to securely view account transactions without using your login details.
What use it that? It means that banking information can automatically be used to help calculate your score.
Now your general spending, council tax, savings and even subscriptions like Amazon Prime, Netflix and Spotify can boost your score.
Experian says that people could boost their credit score an average 66 points. Easy win (and now you can justify your Netflix binging as helping your credit).
Increase your score with Experian Boost
2. Build your credit with a card
Bad credit history has its own kind of anxiety. It creates fear of not getting approved for car loans or rental leases. It limits access to the best financial tools.
But what if you could build credit history every time you swiped your card?
Tesco Bank Foundation Credit Card helps you establish a better credit history. Whether you have poor credit from past mistakes, or simply haven’t built credit, this card helps you improve.
Plus, you’ll get access to Tesco Bank CreditView, by TransUnion, for 3 years from account opening. This product let’s you track your credit score with monthly credit updates.
Start building credit with Tesco Foundation Credit Card
3. Start working towards an 880+ credit score
Picture having an 880+ credit score. Near financial perfection. A score that unlocks the opportunity to get any loan or credit card you want. A score that ensures you’ll pay the lowest rates, and save tens of thousands, over the years.
While it may sound like a dream it’s not as difficult as many think. What holds most people back is not having a clear picture of their current credit scores. If you can’t see your score how do you know if it’s improving?
And let’s not forget the most important key: your credit report. The very thing you score is built upon.
ClearScore let’s you view not only your credit score, but your report. For free, forever.
See your score and credit report
BONUS: Cancel your car insurance
Want some bad news? You could be wasting £262 a year on high-priced, overrated car insurance that isn’t any better than a cheaper alternative.
Only thing to do is cancel your car insurance right now and get something better, or just as good, but costs less.
Quotezone has a new tool that can tell you if you’re paying too much for your car insurance. It only takes a few clicks.
On average, most people could save £262 a year.
It’s free to use, and if you’re looking to save or justify a purchase, having an few extra hundred pounds in your pocket is hard to argue with. Especially since it only takes a few minutes.