Improve your Credit Rating

  • Find out why you have a poor credit rating.
  • Register on the electoral roll (if eligible).
  • Don’t exceed any credit limits you have.
  • Never give false details on applications.
  • Help repair credit history with a Vanquis Visa Card.

 

Find out why your credit rating is poor

When looking to give your credit rating a fresh start, the first step should be to see why your credit rating is poor. If you aren't sure why you have a bad credit rating, ask for your credit reference file here.

A Vanquis Visa Card can help you repair credit history or if you have little credit history or are new to credit then applying and using a Vanquis Visa Card responsibly can help.

Once you know why you have a bad credit rating you can start looking to improve it. These steps could help improve your credit score:

 

Register on the electoral roll

Always pay your bills and any credit you have taken out on time. Meeting credit obligations on-time helps improve your credit history and build your credit score.

 

Pay bills on time 

If you are eligible, get on the electoral roll. It only takes a few minutes to register with your local council and is an easy way to build your credit score.

 

Don’t exceed any credit limits you have 

Ensure you do not exceed any credit limits you have as this can affect your credit history.

 

Never give false details when applying for credit 

Giving false details when you apply for credit may lead to criminal liability and is likely to adversely affect your credit rating

 

Build your credit history with a Vanquis Visa Card

Follow these steps to build your credit history and when you check your credit reference file in the future you should enjoy an improved credit rating.

To build your credit rating with a Vanquis Visa Card, follow these 5 steps every month:

1. Use your Vanquis Visa Card.

2. Always stay within your credit limit.

3. Pay at least the minimum payment due on time every month.

4. Keep your other accounts such as credit cards, loans, catalogues, mobile phone and mortgages in order.

5. Don't take on too much debt elsewhere. You should be able to afford the debt that you have.

There are no guarantees, but if you follow these 5 steps consistently every month, you should be on track to improving your credit history and building a strong credit rating. If you don’t follow these steps, you could harm your credit rating and ability to obtain more credit. If you do miss a payment or go over your credit limit, get back on track as soon as you can by following these 5 steps. The sooner you do, the sooner you can start improving your credit history and building a strong credit rating.

How Credit is Calculated

Credit Score, White List, Black List - There's lots of misconceptions about how a Credit Rating is calculated, find out more about the subject in our guide.

Find out more

Build or Rebuild your credit with a Vanquis Credit Card

  • Manageable starting Credit Limit of between £150 and £1,000^.
  • You could get a Credit Limit increase after your 5th statement and further increases every 5 months, up to £3,500*^
  • Exclusively UK based Customer Service.
  • Online account servicing & SMS alerts.

 

To build your credit rating and be considered for credit limit increases, use your card sensibly, stay within your credit limit and pay your monthly minimum payment on time. Not doing so could harm your credit rating and make obtaining credit more difficult.

Representative 39.9% APR (variable)

World Vanquis Credit Card with slant mirror effect