Make sure that you are paying your bills on time. If possible avoid direct debit missed payments at all times as this can severely damage your credit score. It is recommended to make a note of all those dates when your current account will be direct debited.
If you are considering a loan there are certain steps that you must follow. It is advised to speak to one of the customer services members in the bank to see if you can meet all the requirements to successfully secure a loan. Credit score or your credit history is another parameter the bank considers when making a decision on a loan application.
Monitoring your credit score online for free is simple. Firstly, you will need to know what credit reporting agencies are the most reputable in the market. Equifax and Experian are the two most commonly used credit reporting online agencies. You will be required to create your account at their website to be able to check your credit score.
When signing up for the account, you will be asked to provide personal details such as your full name, your bank, branch name, your employment status, date of birth and social security number. Credit score calculation is based on a number of factors. Those who do not miss direct debit or credit card payments are likely to get a higher score.
On the desktop menu of the website, you can click the 'Score' button to find your credit score instantly. Consider monitoring your credit score on regular basis. When you reach the ideal score, you can apply for the loan.