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A Good Credit Score a Must For Loans

Barry Loughran

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The majority of us will have already acquired some form of credit score without knowing it. You obtain a credit score if you borrow money or pay money through your bank; this could be a mobile phone bill, gym membership or even a credit card. By using any of these you will have acquired a credit score, depending on how you dealt with the payments depends on the quality of your score.

This score will determine whether you buy the car you want or even help you obtain your first mortgage so you are best looking after it and optimising it where possible. Here are a few tips to help you achieve that desirable good credit score.

Pay your bills on time. Doing so proves you can handle regular repayments which make the lender's decision a lot easier. If you expect to miss a payment then contact whoever you are paying and arrange to pay them the following month.

Do not go knocking on every lender's door if you are refused credit. Every time you are refused for credit it is marked on your score; future lenders will see that you have been repeatedly refused and will follow suit.

Check for mistakes on your credit report by requesting a copy of it. You can obtain a copy by contacting companies such as Equifax or Experian. Check for any duplicate entries as these will harm your credit score.

By following these basic tips you will improve your position when applying for a loan and you will receive more competitive rates.

When borrowing money, whether it is in the form of a secured loan , unsecured loan , payday loan or even a mortgage it will heavily depend on your credit score. Compare loans from the main providers to find the most competitive quotes.


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