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BUSINESS


   of £50,000, could also strug-  Having a strong credit score isn’t just essential when applying for credit cards, loans, overdrafts or    contracts with utility provid- ers, mobile phone companies and broadband services, or even those trying to get the best rates and deals from these services, will often need   three quarters of people (79 per cent) have no idea what their credit score is, and half (53 per cent) don’t know how   Sarah Willingham, founder   said: ‘Finding out that a mas- sive 25 million people are at risk of being declined credit due to a poor credit score     Mind the Credit Gap report from aqua demonstrates the importance of understanding your credit score and how it affects your ability to access     how to access the best deals and rates on other products 


‘If you have a damaged credit record and don’t enquire why, you could end up paying more or at worst, having limited ac-  ‘Taking some simple steps to improve your score can have       Things like making sure you’re on the electoral roll, that your credit record has the most up to date address, that you pay your bills on time, and that you only apply for credit


when needed, all make a dif- 


And if you are struggling, there are specialist lenders out there who can help ac- cess credit and rebuild your 


Top tips for improving your credit score:


- Make sure you’re on the electoral role


- Pay all your bills on time, even a couple of days can make a difference


- Ensure there’s no incorrect details on your credit record – check it regularly and if the details are wrong, correct them


- Try not to use more than 75 per cent of your available credit limit


- Look into specialist credit card providers which help people to build and improve their credit record


- Only apply for products when you really need them– applying for more than four forms of credit in a year can lower your credit score


- Do not apply for more than one product at a time as each application can have a negative im- pact on a credit record


- Close old credit card accounts and cancel old direct debits


      Whilst their own credit rating won’t impact yours, taking out a product jointly with them will


-Do not take out more than two forms of credit 


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