If you have no or a low credit score, that’s ok, we can help you build it. When you have no or a thin credit file, credit bureaus might not be able to show you a score or a report.
To build your credit history try these steps.
Fixed address
You can register for the electoral roll at your current address. This helps lenders check who you are. Having a fixed address makes you look like a reliable person to lend to which impacts your score.
Get credit
The easiest way to build your credit history and your score is by getting and using a credit card. Try to spend a small amount every month and pay it back in full by setting up a Direct Debit.
Go to your offers and start comparing them to see what might be right for you. Comparing your offers never affects your score.
Alternative bank accounts
You can open an online account as an alternative to a bank account. These online account providers might not need a credit search or a UK address. These are a good option if you’ve just arrived in the UK, are travelling or just want an easy way to manage your money.
Manage your money responsibly
It’s important to live within your means as this will have a positive impact on your credit score and report. If you already have a credit card, loan or other credit product, always make sure to use it responsibly and always pay your balance on time.
It takes time to build a credit score and report history, be patient. You can still use ClearScore by linking any accounts you have and activating your Credit Health.