There are a few things that you can do (with little inconvenience) to help boost your credit score.

  • 1. Fewer than average unsecured loan applications is a positive for your credit score, as it indicates that you are more responsible with credit and therefore a lower risk.

  • 2. Every time you apply for credit cards, loans, etc, the lender puts an enquiry on your credit file. If you have fewer enquiries, it indicates you are more responsible with debt and helps your score.

  • 3. Moving homes or jobs can indicate that you are a higher risk, impacting your score.

  • 4. The types of credit and lenders are important to your score. Avoid applying for too many unsecured credit accounts and using non-bank lenders, as these can lower your credit score.

  • 5. Repayment History indicators ( RHI ) now has a huge impact on your score, if you pay your loans on-time with major lenders, this will be demonstrated on your report and over time can assist you with a higher credit score.