Skip to main content

Join the Koody Community!

Credit Score

Hi Tom, requesting a credit limit increase could trigger a hard credit check which is usually visible on your credit report. That being said, most lenders don't do a hard check on limit increases, but it's worth phoning them and asking just to be completely sure. Besides, the lender would most likely inform you before carrying out a hard check.

This answer won 500 Koody Coins

Hi @Kerry23 , sorry just answering this now. In the mortgage world there's no one size fits all. Different lenders will require different things to accept you, so the best thing you can do is make yourself as attractive (to lend to) to as many lenders as possible. You do this by building/maintaining a good score through having a good credit report. 5 years is plenty of time for this

Ultimately your credit report (not necessarily your score) is the biggest factor in mortgage applications. They'll check if you have any defaults, missed payments, CCJ's, how much debt you have... (More)

This answer won 500 Koody Coins

To improve your credit score, you need to have some credit history. A credit card is a good place to start. I’ve just had a look at Loqbox. It is on the FCA register, and its parent companies are all on the register and owned by the same person. It seems legitimate. It also seems like a cheap way to build your credit score.

Since your money is held in Barclays, it is safe unless Barclays goes bust. If you want a cheap way to build your credit score, I would suggest starting with them for 12 months. If not,... (More)