The start of a new year is a good chance to review your finances and make some quick changes which could help improve your credit worthiness within just a few weeks. Having a strong credit rating can help bring you one step closer to securing finance as it is a way for lenders to check if you are financially reliable, whether you're trying to get a loan, credit card, mortgage or car finance.
It’s important to recognise that there is no actual ‘credit score’ as different lenders will use different tools to measure your credit worthiness when it comes to borrowing money - no matter how big or small the amount. A higher level of worthiness is a positive sign to lenders, so it is worth taking steps to avoid bad habits that could be detrimental to your financial standing.
The current cost of living crisis is pushing household budgets to the limit, but it’s also making getting credit harder.
