Improve My Credit Score

What is a credit score?

Your credit score is calculated by considering a number of factors; your credit history, asset position, employment etc. Credit scores are used to determine what kind of risk is associated with your home loan application.

Improve my credit score

How can I increase or improve my credit score?

There are a number of ways that you can improve your credit score:

  • Improving your credit rating with your existing bank; you can do this by ensuring that your accounts are not overdrawn and you remain with your credit card limits. You will also need to make sure you are paying back all your debt.
  • Having no credit history can also affect your credit score, so you may benefit from applying for a small credit card and paying it back on time, so you can build a positive credit score.
  • Build up a consistent saving pattern.
  • Show that you have stability by remaining in the same role and address for a long period of time.

How will I know when my score has improved?

You can request a free copy of your credit file once every year, that way you can keep up to date on what your credit file looks like is, whether any changes or blemishes have been recorded on your file. However, in order to get an actual score, you can access the following websites who will give you a free copy of your report: