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Everyone who has a credit history should order their free credit check online once a year to ensure the information contained in the report is accurate and to help detect identity theft and fraud. Another good reason to get your credit history regularly is to know where you stand with your credit rating and take steps to fix the problems that are responsible for a less-than-stellar credit history. If your credit report indicates that you have fair, poor or very poor credit, it's time to roll up your sleeves and begin the often long, but highly rewarding, process of repairing your credit. These 10 strategies can vastly improve your credit score over time. 1. If you're not on the electoral roll, sign up as soon as possible to increase your credit score right of the bat. The electoral roll is a very powerful tool for creditors for verifying your identity. If you're not on the roll, you may be denied credit, regardless of your history and credit score. 2. Space out applications for credit cards, mobile phone contracts, utilities, insurance and loans over time. Each time you put in an application for one of these services, your credit report reflects it. Too many applications in a short time is a major red flag to creditors that you may be a high risk, and it can lower your credit score. 3. When you do put in applications for credit cards, loans and the like, ask your lender to perform a "soft search," which won't show up on your credit report. A soft search is a cursory look at your credit history that will determine whether you're eligible for certain types of credit. Once you're deemed eligible, you can put in the official application. 4. Never miss a payment or pay late. Your payment history is worth over a third of your credit score. A single missed or late payment can seriously damage your credit standing and lower your credit score. If you have trouble remembering your various due dates, set up a direct debit so that there's no danger of missing a payment. 5. Review your credit report every year and look closely for inaccuracies. Even simple mistakes, such as an incorrectly stated credit limit or an incorrect previous address, can further damage your credit and reduce your chances of getting credit cards and loans due to discrepancies in your file. Report any incorrect information to the credit reference agency immediately and stay on top of the situation until it's resolved. If you can't get results, contact the financial ombudsman and file a complaint. 6. Don't continue to apply for credit if you're rejected. You may be repeatedly rejected, which can damage your credit rating and lower your score. If you're rejected for a credit card or loan, order your free credit check online and try to determine the problem with your credit. Look at your payment history, your outstanding balances and check for any mistakes on your report that could be keeping you from getting credit. 7. Cancel cards you no longer use. Not only are unused cards a fraud risk for you, but too many unused credit cards can damage your credit. Access to a lot of credit makes you a risk for over extending your finances, and lenders are leery of potential customers with a number of unused cards. 8. If you have money in savings, consider paying off your debts with it. Chances are, you aren't earning as much money on your savings as you are paying for your credit cards. Pay off the balances of as many debts as possible. The money you save on debt payments can then be put back into savings. 9. If your free credit check online reveals a missed payment on any of your account histories, you may be able to negotiate with your lender to have them removed. If you're a longtime customer, make sure you mention that to your lender, as they may be more likely to remove a late payment if you are a loyal customer. 10. Take your credit cards out of your wallet and leave them at home. Having credit cards on hand can make it much easier to buy luxury items that can add up to more deep debt. Use your credit cards only in an emergency until you have paid your debts down to manageable amounts. Sam Jones the author of this article recommends to his readers looking to find a free credit check online to visit uSwitch.com website for the latest information and advice.
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