When it comes to improving your credit rating and improving the likelihood of receiving a loan, there are certain steps you can tan take. It makes sense that there are certain things that lending companies are looking for, and you should be aware of how taking out a guarantor loan can improve your credit rating. Knowing what lenders want to see will give you an advantage when looking for finance.
This is because your credit rating isn’t a factor in whether a company will offer you a loan or not. This means that if you make the payments associated with the loan in full and on time, you will go a long way to improving your credit rating. This is an important step for many people because it provides a double benefit:
- It offers financial assistance when you need it most
- It provides benefits for the long-term and any borrowing you need to make at a later date
However, you should be looking to make as many improvements to your credit rating as possible. There are many common tips, but there are also some tips that are often overlooked. If you want to boost your credit rating in as many ways as possible, think about these options:
Consider your email address
You may not think that your email address is that important, but the type of account that you have can make a difference to the way that companies view you. Let’s be honest, there is nothing exclusive about a Gmail or a Hotmail address but if you have an email address with a recognised company or an organisation, it is going to be looked upon more favourably. If you have an email address affiliated with an educational body, a council, the NHS or even a major firm, there is a stronger sense of identity about you and your online presence.
Give out your landline number
More and more people only have a landline number in order to access the internet at home, but if you do have a landline number, make sure you provide it to lending companies. Landline numbers can be checked against your address, and this gives a further element of verification about your address and where you are. Equally, if you don’t have one, don’t lie, this will only see you pushed back further with respect to being rated by a loan company.
Spend time on the lending company website
This is not the case for every lending firm, and the technology is still developing, but sites can check your IP address and determine how long you have visited a site and what pages you have looked at. Every action you take on a site is monitored, so make sure that you spend time reading the FAQs and perusing every page on the site, because it all adds up when it comes to a scoring system.