How to build a

[Lost soul]

Credit rating

Following on from my which Bank thread (i went Nat West in the end)

I have been living outside the UK for 16 years so i now need to build some kind of a credit rating in the UK

Will now be working living and being paid in the UK

[mattley]

1st step, make sure you're on the electoral roll.

Get bills in your name and pay them promptly.

Only apply for what you need for your first year back in the country, car insurance is a good one to opt to pay monthly for as it's not scored too harshly as you need it and have a good incentive to pay it.

loads more here.

http://www.moneysavingexpert.com/loans/credit-rati...

good luck, it can be a PITA when you've been out of the system for a long time.

[Lost soul]

mattley said:

1st step, make sure you're on the electoral roll.

Get bills in your name and pay them promptly.

Only apply for what you need for your first year back in the country, car insurance is a good one to opt to pay monthly for as it's not scored too harshly as you need it and have a good incentive to pay it.

loads more here.

http://www.moneysavingexpert.com/loans/credit-rati...

good luck, it can be a PITA when you've been out of the system for a long time.

Thanks

So you say i should take small debts and pay then off fast ?

Edited by Lost soul on Tuesday 20th July 21:25

[Anthony Micallef]

You could get yourself a credit card with a small limit spend say £50 a month on it and then when the bill comes pay it all off. Companies then looking at your credit file will see that you are making all your payments on time.

[Lost soul]

thanks Chaps will do

[munky]

it's ironic that the more you borrow, the better your rating (provided you are repaying it on time, every time)

[KenBlocksPants]

munky said:

it's ironic that the more you borrow, the better your rating (provided you are repaying it on time, every time)

I suppose so, although it actually does prove if you are a good or bad borrower.