Some other ways to improve your credit rating include paying your outstanding loan balances, making prompt payments on your mortgage or utility bills, and paying any other monthly bills on time each month. If you have collateral to offer you could also apply for a secured personal loan. If you have no collateral, there is another option – a credit builder loan, where you borrow money and place it in a deposit account, where you are unable to access it until the loan is fully repaid.