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There may come a time at the end of this month when you look at your credit score and notice that it is nowhere near as good as you had hoped.
It is understandable in January and February that you may have overspent a little in the later months of the year and you’ll be paying for it now. However, there no need to panic, because there are plenty of ways to improve your credit score for the better, for 2018.
You can get bad credit loans to keep you going, create budgets to save money in the month and do plenty more to ensure that you are getting the most out of your finances in a safe way.
Check your credit report
You can access your credit report for free easily, so the first thing you will want to do when you see your score is to get a copy sent to you so that you can take a look. You will be able to see any mistakes made as well as seeing whether there are any areas in which you need to improve.
Think as an individual
Although you may be in a relationship and share your finances equally, you still need to look at yourself as a unique person. Think about the contribution you are making to the financial side of your relationship because this can be affecting not only your own credit score, but your partners too.
Register to vote
A slightly weird one- but actually getting yourself on the electoral register can increase your chances of being accepted for credit. The reason for this is that anyone who is going to be lending you money will want to first check that you are indeed who you claim to be. So if you make sure that your details are correct and you are on the register, they will know you are the right person.
Close unused credit
If you no longer use a credit card or a mobile contract, close it. The reason for this is that you need to keep your financial information up to date so that the lender does not think you are using lots of credit already because they will likely reject you for it if you do.
Never miss payments
If there is one tip you should take away from this post, it is that you must never miss repayments or pay things late. The records of law and missed payments will always stay on your record and potential lenders will see this and judge you accordingly. Stick to taking out credit that you can afford, and stick to your payments as much as you can.
Pay off your debts
The hardest part of staying financially well off is paying off your debts. When you have taken out a lot of loans which you can’t afford. It will become apparent that you need to stop taking out loans and start paying off what you owe. Take it slow and only pay back what you can afford to, but every little helps and it will make your life much easier once that weight is lifted off your shoulders.