Perhaps you’re wondering; why should I work to improve my credit report?  Well, while poor credit might not affect your everyday life necessarily, it can become a real issue when you decide to buy your own home and apply for a loan.  A lender will generally look at your credit report to find out information on whether you have a lot of debt and whether you pay bills on time etc. which can affect your chances of being approved.  So, what are some ways to start improving your credit now?

NEVER miss a credit card payment.  This can be easy to do if you keep forgetting the payment due date but, late payments result in expensive fees and will be noted down on your credit report.  Why not set up an automatic payment plan that will at least cover the minimum due? It will help to avoid this problem.

Do you have credit cards you no longer use? It will be best to call the company and cancel the card as possessing numerous credit card accounts gives a lender the impression you allow yourself too much available credit and will get yourself into economic danger.  Try to keep the longest held accounts, though, because this shows a longer history of credit. 

Are you aware that you are entitled to one free copy of your credit report every year?  It’s good to take a look at your own report before a lender does.  This way you can look at what needs improving and, if the report contains any errors, you can remedy this before going ahead with a loan application. 

Yes, its important to be aware of the information contained in your credit report so that, if necessary, you can work towards improving it.