Improve Your Credit Score
- Get personalised tips on how to improve your credit score
- Get alerts about changes made to your Credit Report
- Build a customised credit improvement action plan
The importance of improving your credit score in the UK
With a prolonged pandemic that is not predicted to end any time soon, the UK’s fragile economy is entering a recession that is expected to intensify by 2021/22. Less credit is available on the market and is predicted to become a lot more expensive and far less accessible. Only people with better credit rating will be the ones that will be able to access it, which may leave people with a lower credit score nowhere to turn. Improving your credit score is the best way to prepare yourself for this financially difficult time. Cashfloat is now offering consumers in the UK the opportunity to improve their credit score fast at a very small cost.
What is Credit Repair?
Credit repair is any action that one makes to fix errors on their credit report. Many times credit reports are far from correct. Credit reports are prepared by humans with the help of computer programs and algorithms. And we all know how inaccurate these things can be. Once a credit file has been worked on to remove these errors, your chances of getting accepted for credit will be significantly higher. Credit repair isn’t just about disputing errors on your credit file but also communicating effectively with the credit report agencies.
These are some common errors that your credit report may have
Of course, credit repair can also take a look in the more formal errors done on your report, such as the wrong name, address, and account numbers. The point is that credit repair services will look into any error that can potentially improve your score.
Learn how to build your credit score with a step by step credit report
The first step to building up your credit score in the UK is to understand your credit report.
You will receive a simple, easy to follow walkthrough of your credit report. It explains in detail each section and how the information in there can affect your credit score. You will also get practical tips on the best way to build up your credit score.
Get personalised tips on how to increase your credit score
Receive customised tips on how to increase your credit score in the UK, with an estimation of how it could improve over time if you follow them. We will provide you with the best ways to increase your credit score in your individual circumstances. We’re a short term loan direct lender who cares about the finances of our customers on a personal level.
Create your customised credit improvement plan to boost your credit score
We provide consumers with the most effective tips on boosting your credit score in the UK through a customised improvement plan tailor-made to your finances. Our step by step credit report builds into a personalised action plan to boost your credit score. With this credit plan in place, you will have all the tools to get your finances back on track after coronavirus and significantly increase your chances for credit in the future.
Get credit alerts and understand what affects your credit score
Every time a change is made to your credit report, you will receive an alert via email or text message. These alerts will notify you regarding changes in payment status, i.e. if payments are missed, when you credit file is searched, when accounts are opened or closed, and if your credit score has gone up or down. Credit report alerts help you to see and understand what affects your credit score in the UK and allow you to constantly monitor the progress you are making in improving your credit score.
Talk to a team of experts about how to fix your credit score
We have a UK team of experts who are here to assist you with getting the maximum from your credit report and help you fix your credit score fast. From challenging wrong information on your credit file to explaining how credit scores work, we can help whatever your circumstances.
Our support team is only a phone call away, ready to offer expert assistance on the best ways to repair your credit fast.
Credit repair in 2021 is more critical than ever. A recession is looming over our heads and is predicted to be far greater than the 2008 crisis. Preparing yourself by repairing your credit score will stand you in good stead if you will need to borrow any credit in the future.
Cashfloat has looked ahead to give our customers the best opportunities to rebuild your credit score quickly for a small fee. Take this chance and start repairing your credit today before it’s too late!
How can I check my credit score for free?
You’re entitled to one free copy of your credit report once a year, and a free credit score check every month from each of the three main credit reference agencies (Equifax, Experian, and TransUnion)
What is a credit score, and how does it work?
Your credit score is a number that represents the risk a lender takes when you borrow money. The lender will use the information on your credit file and any additional information you supply when you fill out your application and use a mathematical model to calculate a numerical score that represents your credit history. This calculation indicates what kind of borrower you are, and how likely it is that you will afford the repayments.
What is the process for credit repair?
Whether you repair your credit report on your own or you pay a repair service, the process will be pretty much the same.
- Get your credit report from the 3 leading credit reference agencies.
- Review each report for errors.
- Notify the agency that issued the report about the mistakes.
- Wait 30 days for the CRA to register your claims and verify the entry. During this time, they will contact your creditors as well as access your other public documents to validate the errors.
- The CRA will then delete all errors that were proven correct. They will issue you a response regarding any mistakes that they couldn’t validate.
- Once the errors have been removed, your credit score will go up, and the CRA will send you a new credit report.
How long does it take to improve my credit score?
There is no one answer for how long it takes you to build your credit score. It depends on what your current financial status is and how severely they have impacted your credit rating. Many people wonder how they can fix their credit score in 30 days? It can take months to significantly improve a low credit score and requires constant commitment.
How long does a default stay on your credit file?
A default will remain on your credit report for six years, regardless of whether you repay the debt. To add to this, removing one default on your credit file won’t have a significant impact if you have additional defaults on your credit report. However, once your default has been removed, the lender won’t be able to re-register it, even if you still haven’t repaid the debt.
Why has my credit score gone down?
Your credit score may have gone down for a variety of reasons including; Missing or making late payments, applying for credit too often or closing an old account. Credit alerts will help you stay on top of your credit report and enable you to understand the changes made to your credit file.