You could improve your credit rating with icount
How can using icount improve my credit rating?
You now have the chance to take back control of your finances and establish your credit profile with a unique credit building facility. Creditbuilder is a unique tool available to Pay Monthly cardholders which could improve your credit rating (0%APR Representative).
- Apply for Creditbuilder via the Members’ Area on the website.
- You will be loaned a full year’s worth of monthly fees in advance. This loan is never available to spend and no actual money changes hands…think of it as “virtual”
- As you pay your monthly fees off each month, you are effectively paying off the loan – showing a consistent payment history. We pass this information on to the credit reference agencies.
- Ensure all your monthly payments are maintained by loading your card each month as this demonstrates your ability to manage credit responsibly.
As long as you continue to meet any other credit repayments you have, then you should expect to see an improvement in your credit rating and your ability to borrow money.
To start using Creditbuilder now, log into the Members’ Area now, or if you’re new to icount, apply for an account now, it takes only a matter of minutes and you will receive your account info immediately*!
How can Creditbuilder help me?
- Establishing a credit profile
One aspect which lenders look at when creating a credit profile for you is your borrowing history and whether you have successfully repaid your loans. Lenders can discriminate against people who have just turned 18, those new to the UK and anybody else who has not had credit before. Creditbuilder can help you form the foundations of a credit profile which demonstrates that you are a reliable and creditworthy borrower.
- Improving your credit rating
If you know you have a poor credit rating due to being refused credit in the past, then our credit building facility can help improve your chances of being accepted in future credit applications by adding loan repayments to your credit history. See below for more details on how this works.
- Improving your credit history
If you have missed repayments on any loans or credits cards, or even had CCJs on your record then lenders could see you as a bad credit risk. We can help you counter this by adding loan repayments to your profile which could have a positive effect on your credit rating.