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Rebuild your credit rating easily in the UK

Updated on December 31, 2009


If your in the UK, or maybe this will work anywhere in the world. Your history is maybe filled with some bad credits, you defaulted on loans, you have a number of creditors chasing you, and your feeling stressed from all your debts. Do you declare bankruptcy? Do you jump off a cliff?

Chill out and read this great guide which i have built using my own personal experience into improving your credit rating.

  1. Make sure that you have a job, and your constantly improving your earnings,
    Either through a an extra part time job, or by running your own business, or even some money making online activities.
  2. Make sure you absolutely cut your excessive spending out. Completely.
  3. Each time you get a letter from one of your creditors. Don't pay it throw it in the bin.
  4. Apply for a couple of credit cards every month. Once you get approved, make a few small purchases & pay them off quickly.
  5. Apply for a couple of new bank accounts every month. Don't ask for any overdrafts, and make sure your reasons are poor customer service with your current bank.
  6. Swap your wages being paid from your current bank, and swap them around with your other bank accounts every 6 months.
  7. Try to change any of your pay as you go contracts, to regular direct debit setups with your bank.
  8. Stay in your current address for 3+ years. This is what gives you the stability when your applying for more credit.


I realised that borrowing inteligently was a good way to do business, as you could obviously buy properties to rent out, with a little money down, however, I noticed that no bank would let me borrow, due to having a low credit score.

The first point to remember is that banks can't tell if you have defaulted on loans, only that your credit score is a certain number which to them might be unsatisfactory.

Make sure that on your applications, your declarations of your previous credit arrangements, are conveniently forgotten.

I used the above methods to rebuilt my own credit rating, after a big bunch of defaults.

Once i got myself into a better position, and my maturity and understanding had improved about managing finances, then I was able to easily pay of all of those outstanding debts.

The most important thing is you relax about you previous defaults. This is the only way you an get your head focused on a plan to fix things.

Using the methods above I was able to buy multiple properties, and take out a few loans. None of which I ever defaulted on.


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