Tips to Increase Your Credit Score

When applying for a remortgage, a low credit score can be very costly and may not enable you to secure the lowest interest rate possible. Lenders will be more willing to consider you as less of a risk with a high credit score.

Your credit score occupies a large piece of the remortgage application process pie. Without a high credit score, the best deal when dealing with a lender will not be a possibility. This is one of the biggest reasons you attempt to remortgage, is for the most beneficial deal.

There are ways to increase a credit score. They are not expensive methods, they just take some time.

-Make certain you are making on time payments of bills. No matter how big or small pay bills on time and never let anything go 30 days overdue.

-Reduce balances on credit cards. Reducing the balance on any credit card to less than 10 per cent of the available credit will be helpful in increasing the overall score.

-Make sure you have a credit history. This sounds a little simple; but just in case you don’t have one, apply for a card, make some small purchases and make the payments on time.

-Don’t apply for a credit card you don’t need.

- Demonstrate regular increases in income. Lenders look favorably upon consistent increases in pay.

These are useful tips to help increase your credit score. Again, these tips are inexpensive and not overly time consuming. If you are considering remortgage, go see a remortgage specialist as soon as possible.