1. Check your credit score and credit file

This not only gives you a good starting point, but you can also see if there are any errors in your credit file. You can view the information held on you by the major credit agencies – TransUnion, Equifax, Experian.

2. Never ever miss a repayment

It takes time and effort to build a good credit record, but only one missed repayment to damage it. If you are having difficulty making a repayment, contact the lender to see what options you have,

3. Keep the credit card balance low

The rate at which you use available credit impacts your credit score. It’s a red flag it you’re a  “limit rider” – you’re balance remains continually maxed out.

4. Avoid making lots of credit applications at once

When you apply for a loan or credit card, the lender may do a hard search on your credit record. These searches become part of your credit record and if lots of them are done in a short period of time, this can have a negative effect as lenders may assume you are desperate for credit.

5. Mix up your credit products

The mix of credit products you have impacts your credit score. Lenders want to see you if you can manage different product types responsibly, notably revolving credit (such as a credit card), instalment credit (such as car finance) and mortgages (fixed or variable interest rates).


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