Spring clean your credit score: 7 easy fixes

Does your credit score matter?

How to clean up your credit score in 7 steps:

1. Check your credit report for mistakes
2. Register to vote
3. Pay on time, every time
4. Lower your credit utilisation
5. Avoid multiple credit applications
6. Build your credit history
7. Keep old accounts open (if they're in good standing)

Quick FAQs on credit scores

Whether you're planning a big purchase, trying to get on the property ladder in the future, or just want to feel more in control of your finances, improving your credit score is a smart place to start. And while there are many common myths about credit scores, there are simple steps you can take to improve your score.

But is it worth the effort?

Does your credit score matter?

Your credit score and history directly impact your ability to access financial products, particularly credit, which most people need when buying a house, getting a car loan or a credit card. However, your credit score affects more than just getting a loan or borrowing money.

It can impact the interest rate when you borrow money; a stronger score can mean lower interest rates, better deals, and more financial freedom. Your credit score can affect your ability to rent a flat and your mobile phone contract and impact your job prospects.  

So, here's how to clean up your credit score in 7 steps:

1. Check Your Credit Report for Mistakes

Things like name misspellings, out-of-date information and wrong addresses are more common than you may think.  According to a Which? survey conducted in July 2024, nearly one in three persons who checked their credit report in the past five years found a mistake. A wrongly recorded missed payment or an account you never opened could really hurt your score.

Fix it: If you spot something wrong, raise a dispute with the credit report provider or bureau. There are three main credit bureaux in the UK:

• Experian
• Equifax (available via Clearscore)
• TransUnion (available via Credit Karma)

TIP: Some credit report providers offer their services free. These include services CreditKarma and TransUnion. You can compare and get more information on free and paid credit report services on the MustCompare credit reports comparison page.

2. Register to vote

It sounds unrelated, but being on the electoral roll is one of the simplest ways to boost your score. It helps lenders confirm your identity, which can work in your favour.

Fix it: Register online at gov.uk. It takes five minutes and can make a real difference.

3. Pay on time, every time 

Late or missed payments are one of the fastest ways to hurt your score. A late payment will stay on your credit report for six years. Lenders can view late payments as a sign that you struggle to manage credit or have financial difficulties.

Fix it: Set up direct debits or reminders to ensure you never miss a payment again.

4. Lower your credit utilisation

Credit utilisation is the amount of credit you’ve used versus the amount of credit you have available. Normally shown as a percentage. For example, if you get a credit card with a credit limit of a £1,000 and you use £500 to make purchases, your credit utilisation is 50%. Using too much of your available credit can make you look financially stretched and a potential risk. 

Fix it: Aim to use less than 30% of your credit limit. So if you have a £1,000 limit, try not to use more than £300.

5. Avoid multiple credit applications

Each time you complete a credit application, a credit search is generated, also known as a hard credit check. Hard searches are visible to other lenders. Too many credit searches in a short time can be a red flag to lenders as it will seem you are desperate for money, or something is wrong. 

Fix it: Use eligibility checkers before applying, sometimes referred to as a soft search or soft credit check. Eligibility checkers show you which products you will likely accept before completing a full application.

6. Build your credit history

If you haven’t borrowed much before, your score might be low simply because there's not enough information about how you handle credit.

Fix it: Consider a credit-builder card or services that report your rent and bills. Options like LOQBOX, Experian Boost, and CreditLadder can help build your score without borrowing.

7. Keep old accounts open (if they're in good standing)

Lenders like to see a long credit history. Closing old bank accounts can shorten your credit timeline and reduce your overall limit.

Fix it: Unless there's a fee or a reason to close it, keeping older bank accounts open can actually help your score.

Quick FAQs on credit scores

Does registering to vote improve your credit score?

Yes. It helps verify your identity, which can increase your chances of approval and boost your score.

What is a good credit score in the UK?

It depends on the credit agency, but generally:

• Experian: 881–960 = Good
• Equifax: 420–465 = Good
• TransUnion: 604-627 = Good

How much of my credit limit should I use?

Ideally, use under 30% of your available credit. Less is even better.

In conclusion

If you're looking for quick results, check your credit report, register to vote, and make all payments on time. Reducing your credit usage and avoiding new credit applications can also help.

Your credit score doesn’t need to be perfect; it should be strong enough to give you access to better rates and more financial freedom. With a few small steps, you can make meaningful improvements that last.