Just got a credit score what can I do to improve it?

[apple_man77]

Hi,

 

Just got myself a credit score....

 

Firstly how long do they take to update as I have paid some stuff off in the last week that are still showing as owing?

 

I'm also not on an electorial role due to being in the Navy and moving to a new address when I joined the police, will this have a big effect on my results.

 

Its also showing one late payment, do I just have to wait a few years for this to come off now?

 

My score looks pretty low to be fair showing only £339 funds spare? Not sure what this means.

 

I've just recently applied for a car on PCP and turned down which is mainly the reason for the checks. I've just paid £5000 off which was a loan and 2 credit cards although these aren't showing on my credit rating yet!

 

Many thanks for any help.

Mark

[Jamesx81x]

Hi

 

Make sure you register on the electoral role, pay everyting on time and dont get any defaults or CCJ's.

 

Stick to tht and your credit will be fine. Your late payment marker will dissappear within 12 months and wouldnt worry about that too much.

[247orbital]

I was under the impression late payment markers were removed after 3 months?

[johno23]

Is that right that late payment markers disappear after 12 months!!

 

Johno

[247orbital]

After looking into things it seems no late payment marker will be on file unless its 30 days overdue. Because its not considered overdue until then next bill is due.

 

Companies extending you credit are mainly interested in the last 12 months but obviously late defaults and CCJ's will effect this.

[Jamesx81x]

Your file usually shows 12 months worth of payments.

 

If there is a late payment marker on there it will move along as payments are made on time until it drops off and your file is showing 12 months worth of on time payments.

[apple_man77]

Many thanks for the replies.

 

The late payment is showing on a closed 02 account so not quite sure whats going on? There are three 02 accounts showing on my file. Out of the 12 green blocks (I presume they represent months) the second from left hads a 2 in it in yellow which from looking shows a payment which is 2 months late. I never missed a payment with 02 so not 100% whats going on or even which account its for but hopefully it won't be killing my credit rating as its the only one on my whole account showing although it would be nice if it wasn't on there!!

[Josie8]

Many thanks for the replies.

 

The late payment is showing on a closed 02 account so not quite sure whats going on? There are three 02 accounts showing on my file. Out of the 12 green blocks (I presume they represent months) the second from left hads a 2 in it in yellow which from looking shows a payment which is 2 months late. I never missed a payment with 02 so not 100% whats going on or even which account its for but hopefully it won't be killing my credit rating as its the only one on my whole account showing although it would be nice if it wasn't on there!!

 

 

on a closed account the last twelves payment history will stay on for 6 years.

[apple_man77]

oh ok thanks for that, looks like it'll be there for 6 years then

[Jamesx81x]

If you did not miss any payments you need to speak to someone in O2 compliance department and ask them to rectify it.

 

They will still have records of your payments

[johno23]

I have five months missed payments then i settled the account in full. Does that mean the missed payments should Be cleared off my credit file in twelve months.

[apple_man77]

If you did not miss any payments you need to speak to someone in O2 compliance department and ask them to rectify it.

 

They will still have records of your payments

 

I'm sure I didn't all my direct debits are set to come out between the 25th and 1st of each month as I get paid on the 25th of every month. The bill was only ever £42.50 and I've never had a letter from them saying I was behind on payment. I will speak to them tomorrow and see what they have to say.

 

Many thanks

Mark