Personal Premier Business Wealth Management Corporate Log In Search Menu What is a credit rating? Discover how to improve yours Learn why your credit rating is important, and how to improve it so you’re more likely to be considered for credit in future. What is a credit rating? Your credit rating is used by lenders to assess the risk of offering you credit. It’s calculated based on information in your credit report, such as Your recent address history Any outstanding credit card and loan balances How to improve your credit rating Get organised Keeping up to date and on schedule with loan and credit card payments will show that you’re a reliable person to lend to. This is because regular payments – such as Direct Debits or mobile phone contracts – give the credit agencies information about your habits. If you pay them back in full and on time, it proves you’re good at managing your money. You should also make sure you’re on the electoral roll. Banks will often check this to confirm details about you, like your address, and if they’re incorrect or not available, it could make the borrowing process more difficult. Amend your credit report Contact a credit-reference agency – such as Experian, Call Credit or Equifax – to get a copy of your credit report. There’s a small charge and you’ll need to provide the agency with your full name and addresses for the past 6 years. Once you have your report, you should check it thoroughly and identify any mistakes. You can appeal if you find any inaccuracies, or have a note added to your file to explain any special circumstances. Increase your credit score There are things you can do to improve your credit score. First, you should pay off any outstanding debt. Unpaid credit and county court judgements (CCJs) will remain on your file for 6 years, but once you pay them off, they’ll be marked as settled. Second, show that you can use credit sensibly by using a credit card responsibly and paying it off regularly. If you’re refused credit, avoid making multiple applications at once as it can be seen as financial distress. Instead, work to improve your rating before applying for another loan. What you shouldn’t do Miss any payments Lenders look at your payment history when they’re making decisions about your suitability for a loan. If you miss payments on credit cards or loans, it suggests that you have difficulty managing and repaying the money you’ve borrowed – and lenders may decide that it would be unwise to lend to you. Apply for too many things Every application you make for new credit or other applicable products requires a credit search, and that search will show up on your credit report. Some lenders may consider applying for multiple products within a short period as a sign that you’re struggling financially. Forget to update your address You should make sure you always have the correct address registered on the electoral roll. Changing address frequently can also, sometimes, be seen as a sign of instability. Current accounts Savings accounts ISAs Loans Mortgages Mortgage calculator Insurance Credit cards Home and contents insurance Help and FAQs Switch to Barclays How to report fraud Protect yourself from scams Important information Accessibility Privacy policy Cookies Security Careers Find a branch Service status Send us a message Find us on Twitter Barclays Bank UK PLC and Barclays Bank PLC are each authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Barclays Insurance Services Company Limited and Barclays Investment Solutions Limited are each authorised and regulated by the Financial Conduct Authority. Registered office for all: 1 Churchill Place, London E14 5HP Cookies We would like to collect data from your device while you use this website. We do this using cookies. You can find out more in our cookie policy. Collecting this data helps us provide the best experience for you, keeps your account secure, helps us provide social media features and allows us to personalise advert and service message content. Please select 'Accept all' to consent to us collecting your data in this way. To see other data collection options, select 'Preferences'. Preferences Accept All