Improving your Equifax Credit Score

There are a number of ways you can improve your credit report and Equifax Credit Score. This may help you when you apply for credit such as a home loan or credit card. Here are some tips to consider.

Improving your Equifax Score

Make sure overdue debts aren’t recorded on your Equifax Credit Report

This can be done by paying loans and bills on time. For example, consider consolidating your debts in order to pay off any loans faster or to reduce fees associated with several individual loans. If you’re having trouble, consider talking to a financial counsellor or your credit provider to arrange a payment plan.

Moving house?

Get in touch with all your credit providers (banks, utilities, phone company, ISP, etc.) to make sure bills are redirected to your new address.

Do your homework before you apply for credit, and only apply for credit when you need it

Making a number of applications for credit within a short space of time can reduce your Equifax Credit Score and make you seem less attractive to credit providers.

Regularly check your Equifax Credit Report

Get a free copy of your Equifax Credit Report to help ensure no one uses your identity to obtain credit or to commit an identity crime. Or simply sign up to an Equifax Premium monthly susbcription plan, which includes credit alerts that will update you when certain changes are made to your report.

It’s important to note that references to overdue debts are not removed from your file just because the debts have been cleared. They’ll still remain on your file for report for five years.

However, the relevant credit provider will update your credit file to reflect the fact that the debt is no longer overdue. For more information, see ‘How can I check my credit history?’