First of all we would like to wish a Happy Halloween to all of our members! Halloween is a scary time of year; with ghouls, ghosts and goblins, there’s enough to be scared of. Yet some people fear their own credit scores, and how their score may affect future credit applications.
Fear not, No1 CopperPot Credit Union members… let us remind you that your credit score is not the only factor your Credit Union considers when assessing your lending applications, we pay close attention to the affordability of the loan.
Improving your credit score
To help you at this scary time of year, we have listed our top tips for improving your credit score below:
Get on the Electoral Register!
Lenders will check to see if you are registered at your address. Being registered will help you when applying for credit. You can register to vote online by clicking HERE.
Pay bills on time!
Make your repayments on time and pay off your accounts early if you can. This shows that you are a sensible borrower. If you’re using savings to pay off debts, make sure you keep enough cash in an easy access account for emergencies.
Did you know that missed and late payments can stay on your credit file for up to six years, which could affect you when you want to apply for credit?
Bye-bye credit cards!
Cancel unused credit cards. This also reduces the chances you’ll fall victim to fraud if they were to be stolen.
Here at No1 CopperPot Credit Union, we pride ourselves on offering loans based on affordability and not just your credit score. Our Loans Team will offer a personalised service, assess your application manually and aim to give you a decision within 48 hours.
For more information on our loans, please click here.