How to improve your credit rating: The facts and myths about getting the best …
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Tough times mean banks are getting meaner and stricter about who they are prepared to lend to.

It’s more vital than ever that you check your credit record, understand what affects your credit score and then get it as squeaky clean as possible. That will give you a fighting chance of getting that mortgage, loan or credit card – and at the very best rate.

Lenders use credit reports to help them decide who to dole out cash to and at what price. You need to show you’re a safe bet or you’ll pay way over the odds in interest.

There are lots of mistaken beliefs about how credit reports work and what affects them.

Research by CreditExpert shows eight out of 10 of us believe that being unsuccessful with one lender will harm how others score you. While a ‘footprint’ of lenders’ searches is recorded, the fact that they declined you credit is not. But if you rapidly apply elsewhere, too many footprints will set alarm bells ringing that you are in financial difficulty.

Around a quarter of people believe that missing a mortgage or credit card payment will not have an impact on their c…………… continues on

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