Long term members of this forum will know that I’m saving for a deposit for a house, and thanks to asking about it on the forum, I was recomended the Help to Buy ISA by @chrisc - and now, over a year later, I have the aforementioned ISA.
So the next problem to solve is that of my credit rating, which once again brings me back here asking for help and advice.
My credit rating isn’t bad, with Noodle giving me a score of 3/5 (more specifically, 582 - which I believe to be out of 1000), but it’s in no way good, so if I’m going to be looking for a mortgage in a few years time, I want to do everything I can to improve it.
One suggestion which I’ve already acted on was that of getting a credit card. I have no intention of using the CC as extra money, but instead will simply act as a proxy for the money I already have, and will be paid off on full each month. I asked my bank (Halifax) about getting a card from them, but they could only offer me a 5 out of 10 chance of being accepted.
Because I didn’t want to run the risk of being rejected (and thus causing my credit rating to get worse), I decided to use the tool at Money Saving Expert to find a card that offered the best chance of being accepted, and went for an All Round Credit Card from Virgin Money - which after nervous 30 seconds of watching an ajax gif, informed me that my application had been successful, and they’d give me a limit of £3600 (far too much IMO, haha).
Anyway, that’s one of the things I’m doing to improve my rating, do you have any other suggestions?