15 June 2005
Britons have been advised to check their credit files in order to be able to improve their credit rating and get better loans.
According to credit reference agency MyCallcredit, there are a number of things borrowers can do to improve their credit rating, but they need to check what is on their file in order to do so.
By updating their electoral roll registration details, paying bills on time, keeping credit card balances low, and paying off debt instead of moving it around, Brits can get a better credit rating and therefore access to loans with better rates and conditions.
Director of MyCallcredit, Alison Nicholson, said: "Each lender is different in how it uses your credit file to work out a score.
"Understanding the information held about you and how lenders might use it is the first step towards getting the best deals on credit you can."
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