May 8, 2019 7:48 am Written by

Is It Too Late To Fix My Credit?

Is It Too Late To Fix My Credit?

Credit and our credit histories and credit scores are funny things, funny in that they are always there, but seem to hide in the background, and only come out at certain times.

Times like when we need a loan, or in some instances, when we take out insurance or apply for a job.

Yes, credit history and credit scores can and are used in determining issuing some insurance policies, and also for some jobs; especially in finance or if you are handling cash.

Landlords also may check a potential tenant’s credit history as a deciding factor in if they will rent to them or not.

So our credit files are always there, they just don’t come out very often, but when we need them, we need them.

That is why it adds insult to injury of you need a loan, apply for a loan, and are then denied the loan due to poor credit, or having a low credit score.


* High credit score….good.

* Low credit score….not good.

However, it is like preaching to the choir, many say they know keeping good credit is important, but they made mistakes years ago in the folly of their youth. Maybe they defaulted on a loan, had a car repossessed, missed some payments, just in general did not take their credit reports and credit history as serious as they should have.

Then once something like this occurs, we may go around living with our heads in the sand, buried away from our credit past, trying to forget.

However, just as we mentioned, your credit history and score, does not go away, it is always there in the background, waiting to be viewed again.

Know Your Credit Score

We all need to start somewhere, and the beginning is a good starting point. So how do you do this…Check Your Credit File and know your credit score.

If you think you have bad credit, or a low credit score, don’t be afraid to look and see what is actually on your credit report; it may not be as bad as you think.

Knowing your credit score ahead of needing a loan or some other area where credit scoring is used, can save you a lot of worry and headache.

And you can get a copy of your credit report for free, so why wait.

It’s Never Too Late….But Don’t Wait

Once you have a copy of your credit report and know your credit score, you can begin the process of looking to increase your credit score and credit rating.

A few simple tips and you can be improving your credit score:

* Correct any errors or omissions, make sure your name is spelled correctly, and your adress and post code is correct.

* Get on the electoral roll, as this is how lender help to verify you are who you say you are, and your address.

* If you have a lot of open accounts you don’t use, close them, but don’t close your oldest accounts, they show you have been credit active for a long period of time.

* If you have high balance on credit cads, stop using the cards, and work to pay down the balances.

* Don’t apply for a lot of credit, too many inquiries or “footprints” lowers your credit score.

* Obviously, pay your bills and accounts on time.

Again, it is never too late to improve your credit, but you need to see what is there and know your credit score first.

Looking for a loan but don’t have a good credit rating? Follow this link to compare guarantor loans with bad credit.

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