Do you currently have Bad credit? What is your current challenge with going from Bad credit to Good credit? What's your current Credit Score? HOW TO IMPROVE CREDIT SCORE UK 1) 9:22 - Get Your Credit Score and Report and Check For Errors 2) 12:03 - Pay Your Bills On Time Without Fail To Avoid Delinquent & Default Payments. 3) 13:30 - Keep Your Credit Balances Low (Maximum 25% of Your Credit Limit) & Pay Off Credit Balances Regularly. 4) 14:29 - Consider Closing Unused Accounts & Keep Older Ones That Demonstrate A Good History. 5) 15:18 - Limit The Number Of Credit Applications You Make (Max 1 Every 3 Months). 6) 16:02 - Register On The Electoral Register (For Your Current Address) 7) 17:28 - Check For Late Payments (Last 6 - 12months) To Query and Rectify 8) 19:12 - Focus On Borrowing ONLY What You Need So You’re Not Seen As Over Reliant On Debt 9) 20:08 - Keep An Eye Out For Fraudsters Who Can Damage Your Credit. Get An Alert Service Or Add Password To Credit Report. 10) 21:45 - Keep Things Naturally Diverse i.e. Don’t Have Too Much Of One Type Of Debt. BONUS 11) 22:57 - Relationships Matter. If Your Partner Has Bad Credit and You’re Connected To Them, You’ll Likely Suffer Too.
As an immigrant from a country where consumer debt is atypical, I'm not used to living off credit. How do I build a credit score without using a credit card etc.? I currently pay my monthly bills via direct debit and I'm on the electoral register. But with my current lifestyle, points 8 and 10 above would imply I won't take on any debt till I'm ready to take on a mortgage. Is that advisable? As it could mean I would't have a credit history at all! 😳
I don't trust the credit report companies. I applied for Shell broadband and it appears on my credit report twice, 1. as Broadband (soft search) 2. as a Mortgage buy to let ( Hard search) and my credit score has gone down from 974 to 889. Is it not common sense that Shell is an energy and broadband company not a mortgage lender? My blood is boiling right now.
Oh dear. That doesn't sound good. Shell do broadband? I'd suggest just keeping track of things through alerts and so on. The impact of that soft search should disappear soon
@@TheHumblePenny Yes Shell do broadband and I find it to be one of the cheapest. I queried about wrong entries on my report through email and both entries are no longer showing on my report. But then they replied to my email saying they can't see the Shell entries I'm querying about, dispute me sending a screenshot of my credit report with the email. They don't want to admit to their mistake. It's very frustrating. Now I'm checking my credit report every week because I'm planning on purchasing a property in a few months. Also checking the alerts has you suggested, thanks.
Hey Ken, I've been watching your channel for a few months, and I like the content you are pushing out. The first video I came across was all about clearing your debt. Personally I've lived a very materialistic life growing up, creating lots of bad debt. Only over the past few years I've learnt to change my mindset and spend my money on good future investments. The lessons I've learnt have also made me far more minimalist! I love it! Keep up the great work! Ricki@theskylifeproject
Thanks Ken. I appreciate it. It's early days for me, but over the years I've met some really inspiring and knowledgeable people. One of my regrets biggest regrets is that i never documented the knowledge for others to learn from. Better now then never! :)
Thank you so much for the informative videos, my score is 927 but my first name was spelled Mohamed instead of Mohammed, concerned it will ruin my score if ask the bank to change it but hopefully a small spelling error does not impact the score in the long run.
God bless you too my brother. Wisdom is vertical and knowledge horizontal. If you remember that, you'll always seek wisdom from the right place. From above.
Good video, great content. A small point if you add a note to your credit file to explain a late payment it can result in being declined for small loans or credit applications. This due to the lender having to manually review the application for mortgages or large loans its unlikely result in the application been declined solely as a result of a note but the lender will still need to manually review the credit file. So I heard!
Great video! I’m a new subscriber and I’m eager to learn from you! My credit score is currently 940 and I’m not quite sure on what I can do to improve it further!
Hello , as a mature student new to the Uk , how can you build your credit score when most banks wont allow you to get a credit card even if they can hold your money against debt that you may require (i mean if you have £200 you should be able to access £200) ,this all seems complex to navigate
What is the best credit card for a beginner who wants to build a good credit history? I’m just new into this country and want to increase my credit score
I just have to testify about this here and let everyone know how much better I feel right now. About a couple months ago I applied for a car loan and it was declined because my credit score was in a low 500 with some negative items including (eviction, bankruptcy and a judgment), I was broken. I approached a colleague and narrated everything to him, he referred me to John and told me to believe in him. Within 8 days John raised my credit score to 830 and erased all the negative items replacing them with beautiful tradelines. I am ever grateful to him for such a discreet service. He fix a Chexsystem report and a DUI report as well. Write him on [Jon@creditpatchup.com] and consider your job done.
Is it a good idea to get a credit card. I would say that credit card is not a good thing for some people. I used to dislike credit cards as it could be a trap but what is your opinion on it? If you can reply with your opinion on of you should get a credit that would be great and by the way I checked my credit score and it is 999👍
I'm flying to Jamaica soon for free thanks to my credit card 😀. We collect points with ours and pay it off in full each month. I think credit cards aren't terrible things necessarily. What people need to work on is the root cause of their mismanagement of credit cards.
@@TheHumblePenny I would like to say congratulations for that and I hope you have a safe and nice trip. So you travelled to Jamaica without paying a single penny. That is really Good
Hi Ken. Thanks a lot for your very informative and highlighting channel, I like to listen as I drive at work every night (#1 problem already). I do want to ask if my strategy of using credit cards for daily expenses and paying off on average before interest dates is ok. Am currently trying to get a mortgage and at the same time work torwards financial joy and freedom. Once again thanks for your channel. My credit report has improved as I did enjoy checking on loans and credit only to my own detriment.
You didn’t touch on some areas in the UK were the credit in does places are MAX 750 which means no matter your score you can’t go above 750 ? Would be good to have some pointers on this as some individuals might be 700/750, are they missing out on anything?
Fantastic video. Your channel is changing my life for the better. I have struggled in the past financially and after a few months watching your advice I'm already seeing such a massive change in my finances and my overall thought process towards money and life
I try not to use credit where possible. except for my mortgage. I have had car leases and loans in the past and I've decided that if I can't pay cash, it's not worth having. Although I checked my score just out of interest and I'm on 999, not that I will use it.
I've got an iva still on my credit report which is killing me on my score I payed it of within 3 years 2017 i finished it . November 2014 i took my iva out .but still i can not get a mortgage. I earn well over 30k a year to
I just have to testify about this here and let everyone know how much better I feel right now. About a couple months ago I applied for a car loan and it was declined because my credit score was in a low 500 with some negative items including (eviction, bankruptcy and a judgment), I was broken. I approached a colleague and narrated everything to him, he referred me to John and told me to believe in him. Within 8 days John raised my credit score to 830 and erased all the negative items replacing them with beautiful tradelines. I am ever grateful to him for such a discreet service. He fix a Chexsystem report and a DUI report as well. Write him on [Jon@creditpatchup.com] and consider your job
Hi, How do you set a password for your credit file? Would this password apply for Experian, Equifax and Transunion or do you have to set up passwords for the individual agencies?
I just have to testify about this here and let everyone know how much better I feel right now. About a couple months ago I applied for a car loan and it was declined because my credit score was in a low 500 with some negative items including (eviction, bankruptcy and a judgment), I was broken. I approached a colleague and narrated everything to him, he referred me to John and told me to believe in him. Within 8 days John raised my credit score to 830 and erased all the negative items replacing them with beautiful tradelines. I am ever grateful to him for such a discreet service. He fix a Chexsystem report and a DUI report as well. Write him on [Jon@creditpatchup.com] and consider your job done.
I have 6k debt. Am I better off paying off the debt and closing the acc or leaving the money on there? If I reduce my 6k debt to 3k, and then leave £2000 on it, will my credit score go up or down?
Do you currently have Bad credit? What is your current challenge with going from Bad credit to Good credit? What's your current Credit Score?
HOW TO IMPROVE CREDIT SCORE UK
1) 9:22 - Get Your Credit Score and Report and Check For Errors
2) 12:03 - Pay Your Bills On Time Without Fail To Avoid Delinquent & Default Payments.
3) 13:30 - Keep Your Credit Balances Low (Maximum 25% of Your Credit Limit) & Pay Off Credit Balances Regularly.
4) 14:29 - Consider Closing Unused Accounts & Keep Older Ones That Demonstrate A Good History.
5) 15:18 - Limit The Number Of Credit Applications You Make (Max 1 Every 3 Months).
6) 16:02 - Register On The Electoral Register (For Your Current Address)
7) 17:28 - Check For Late Payments (Last 6 - 12months) To Query and Rectify
8) 19:12 - Focus On Borrowing ONLY What You Need So You’re Not Seen As Over Reliant On Debt
9) 20:08 - Keep An Eye Out For Fraudsters Who Can Damage Your Credit. Get An Alert Service Or Add Password To Credit Report.
10) 21:45 - Keep Things Naturally Diverse i.e. Don’t Have Too Much Of One Type Of Debt.
BONUS 11) 22:57 - Relationships Matter. If Your Partner Has Bad Credit and You’re Connected To Them, You’ll Likely Suffer Too.
As an immigrant from a country where consumer debt is atypical, I'm not used to living off credit. How do I build a credit score without using a credit card etc.? I currently pay my monthly bills via direct debit and I'm on the electoral register. But with my current lifestyle, points 8 and 10 above would imply I won't take on any debt till I'm ready to take on a mortgage. Is that advisable? As it could mean I would't have a credit history at all! 😳
The Humble Penny mil
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Very good video. My credit score is 645. ATM. How does savings affect credit score? I'm pumping most of money into savings
I don't trust the credit report companies. I applied for Shell broadband and it appears on my credit report twice, 1. as Broadband (soft search) 2. as a Mortgage buy to let ( Hard search) and my credit score has gone down from 974 to 889. Is it not common sense that Shell is an energy and broadband company not a mortgage lender? My blood is boiling right now.
Oh dear. That doesn't sound good. Shell do broadband? I'd suggest just keeping track of things through alerts and so on. The impact of that soft search should disappear soon
@@TheHumblePenny Yes Shell do broadband and I find it to be one of the cheapest. I queried about wrong entries on my report through email and both entries are no longer showing on my report. But then they replied to my email saying they can't see the Shell entries I'm querying about, dispute me sending a screenshot of my credit report with the email. They don't want to admit to their mistake. It's very frustrating. Now I'm checking my credit report every week because I'm planning on purchasing a property in a few months. Also checking the alerts has you suggested, thanks.
I’m really loving your content. Amazing to have a channel based in the uk too. Thank you! God bless. Xxx
Hey Claire, you're too kind! God bless you too 😊💛
Hey Ken,
I've been watching your channel for a few months, and I like the content you are pushing out. The first video I came across was all about clearing your debt.
Personally I've lived a very materialistic life growing up, creating lots of bad debt. Only over the past few years I've learnt to change my mindset and spend my money on good future investments.
The lessons I've learnt have also made me far more minimalist! I love it!
Keep up the great work!
Ricki@theskylifeproject
Hey Ricky, much appreciated! :) . Good to hear too about your progress. I'll check out your content too.
Thanks Ken. I appreciate it. It's early days for me, but over the years I've met some really inspiring and knowledgeable people. One of my regrets biggest regrets is that i never documented the knowledge for others to learn from. Better now then never! :)
So we get tips on how improve our credit scores for free and tip on relationship also for free 😁 nice 👍🏾 thanks Kenny.
Haha you're most welcome! 😀
Brilliant, helpful video
Thanks, Peter! :)
great content. keep it up guys. love it and learning a lot
Cheers!
Thank you very much for your video !!!!
Really important topic for me ;) I have learned a lot !
Super! Glad to hear you've learned a lot
Fantastic video and very timely!!
Cheers, Thomas! Are you working on improving yours?
@@TheHumblePenny, my credit score is of good repute but it's always useful to anticipate the effect of potential future financial decisions.
Thank you so much for the informative videos, my score is 927 but my first name was spelled Mohamed instead of Mohammed, concerned it will ruin my score if ask the bank to change it but hopefully a small spelling error does not impact the score in the long run.
Thanks 🙏🏾
👊🏾
Thank you
You're welcome 😊
Pls how do I acquire such wisdom like you?
Never heard of Matthew effects.
God bless you my brother
God bless you too my brother. Wisdom is vertical and knowledge horizontal. If you remember that, you'll always seek wisdom from the right place. From above.
Another fantastic video, best financial content in the UK 👏🏼👏🏼
Cal, you're too kind. Thank you! 😀🙏🏽
If you didn’t have 999 on your score I would have cried lol
😆🤣🤣
My Goal by the end of 2020 in Jesus name amen!
@@ladyzinny how did that go ?
Great Stuff :-)
Thanks, Stephen!
Good video, great content. A small point if you add a note to your credit file to explain a late payment it can result in being declined for small loans or credit applications. This due to the lender having to manually review the application for mortgages or large loans its unlikely result in the application been declined solely as a result of a note but the lender will still need to manually review the credit file. So I heard!
Ah interesting point. I've never had that issue. Good point to raise.
Great video! I’m a new subscriber and I’m eager to learn from you! My credit score is currently 940 and I’m not quite sure on what I can do to improve it further!
Welcome to The Humble Penny! 940 is pretty good actually :)
You mentioned i think in tip 9 that you can set a password security - does this only apply for hard checks or does it include soft checks as well?
I believe it's for all checks.
@@TheHumblePenny great thanks!
Hello , as a mature student new to the Uk , how can you build your credit score when most banks wont allow you to get a credit card even if they can hold your money against debt that you may require (i mean if you have £200 you should be able to access £200) ,this all seems complex to navigate
What is the best credit card for a beginner who wants to build a good credit history? I’m just new into this country and want to increase my credit score
I just have to testify about this here and let everyone know how much better I feel right now. About a couple months ago I applied for a car loan and it was declined because my credit score was in a low 500 with some negative items including (eviction, bankruptcy and a judgment), I was broken. I approached a colleague and narrated everything to him, he referred me to John and told me to believe in him. Within 8 days John raised my credit score to 830 and erased all the negative items replacing them with beautiful tradelines. I am ever grateful to him for such a discreet service. He fix a Chexsystem report and a DUI report as well. Write him on [Jon@creditpatchup.com] and consider your job done.
23:16 Now I know where Jada got that term from 😂😂😂
🤣🤣🤣🤣 OMG I didn't even know I had that word in my vocabulary 😆
I’m 18 and just got my first credit card and when I checked my Experian credit score I found that it is 999 is this normal?
More than likely 999 is just a default score used by low use accounts…. The real score probably isn’t reflected in the perfect score u seen
Is it a good idea to get a credit card. I would say that credit card is not a good thing for some people. I used to dislike credit cards as it could be a trap but what is your opinion on it? If you can reply with your opinion on of you should get a credit that would be great and by the way I checked my credit score and it is 999👍
I'm flying to Jamaica soon for free thanks to my credit card 😀. We collect points with ours and pay it off in full each month.
I think credit cards aren't terrible things necessarily. What people need to work on is the root cause of their mismanagement of credit cards.
@@TheHumblePenny
I would like to say congratulations for that and I hope you have a safe and nice trip. So you travelled to Jamaica without paying a single penny. That is really Good
Hi Ken. Thanks a lot for your very informative and highlighting channel, I like to listen as I drive at work every night (#1 problem already). I do want to ask if my strategy of using credit cards for daily expenses and paying off on average before interest dates is ok. Am currently trying to get a mortgage and at the same time work torwards financial joy and freedom. Once again thanks for your channel. My credit report has improved as I did enjoy checking on loans and credit only to my own detriment.
Much appreciated, Ro!
You didn’t touch on some areas in the UK were the credit in does places are MAX 750 which means no matter your score you can’t go above 750 ? Would be good to have some pointers on this as some individuals might be 700/750, are they missing out on anything?
You explain it so well literally went from video to video. Thank you so much!!
You're most welcome 😀
Fantastic video. Your channel is changing my life for the better. I have struggled in the past financially and after a few months watching your advice I'm already seeing such a massive change in my finances and my overall thought process towards money and life
Hi Shast! Lovely to read that! Thank you 😀
I try not to use credit where possible. except for my mortgage. I have had car leases and loans in the past and I've decided that if I can't pay cash, it's not worth having. Although I checked my score just out of interest and I'm on 999, not that I will use it.
really useful video
Brilliant video, thanks very much
Thank you, Chi! 😀. Are you currently working on your credit score?
@@TheHumblePenny My credit score is in good standing but it is always good to have as much information as possible..
@@chiifeacho3856 Excellent! :)
I've got an iva still on my credit report which is killing me on my score I payed it of within 3 years 2017 i finished it .
November 2014 i took my iva out .but still i can not get a mortgage. I earn well over 30k a year to
I just have to testify about this here and let everyone know how much better I feel right now. About a couple months ago I applied for a car loan and it was declined because my credit score was in a low 500 with some negative items including (eviction, bankruptcy and a judgment), I was broken. I approached a colleague and narrated everything to him, he referred me to John and told me to believe in him. Within 8 days John raised my credit score to 830 and erased all the negative items replacing them with beautiful tradelines. I am ever grateful to him for such a discreet service. He fix a Chexsystem report and a DUI report as well. Write him on [Jon@creditpatchup.com] and consider your job
Thank you Ken!
Wooow I hope we will delve deep with this in the FJA membership.
We sure will 😉
This video is so helpful! Thank you ☺️
You're welcome :)
Can you ho through it? I don't understand the jargon
What jargon?
@@TheHumblePenny Experian has codes on their results. It would help if u could mention what they mean
Hi, How do you set a password for your credit file?
Would this password apply for Experian, Equifax and Transunion or do you have to set up passwords for the individual agencies?
I just have to testify about this here and let everyone know how much better I feel right now. About a couple months ago I applied for a car loan and it was declined because my credit score was in a low 500 with some negative items including (eviction, bankruptcy and a judgment), I was broken. I approached a colleague and narrated everything to him, he referred me to John and told me to believe in him. Within 8 days John raised my credit score to 830 and erased all the negative items replacing them with beautiful tradelines. I am ever grateful to him for such a discreet service. He fix a Chexsystem report and a DUI report as well. Write him on [Jon@creditpatchup.com] and consider your job done.
I got mine to 998 and just shy of 1 point
Thank you 🙏🏽
You're most welcome 😊
This video was extremely helpful Ken, valuable content as always! Love your channel.
Much appreciated message, George 😀
Great video
👊🏼
I have 6k debt. Am I better off paying off the debt and closing the acc or leaving the money on there?
If I reduce my 6k debt to 3k, and then leave £2000 on it, will my credit score go up or down?
Pay down should improve it. I wouldn't close the account.