'Set targets and be reliable' to build a credit rating

Brits with a bad credit history who are looking to improve their financial situation may be advised to follow the recommendations of MoneySupermarket.com.

The price comparison site suggested demonstrating stability is one of the best ways in which a credit profile can be kept in good shape.

For instance, moving home or switching jobs can impact the success rate of applying for credit.

It was noted lenders look for someone who is reliable, stable and secure and this could contribute to that image in a report.

Aiming for specific targets that are well suited to the individual's needs was also advised, as rejected applications will be a negative factor in future applications.

Life coach and personal trainer at Footprintcoaching.org.uk Georgina Burnett recently claimed setting manageable goals to establish in a plausible timeframe is one of the most effective methods of ensuring success, particularly if a new year's resolution has been set.