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5 Ways To Review Your Credit Score This Easter

Easter brings a time to pause and reflect on how the year is going. From assessing your career goals to your daily routine, taking a step back from modern life is crucial.

If there’s one thing you check this Easter, let it be your credit score. This statistical number represents your creditworthiness in relation to previous debt repayments. Typically, the higher the number, the better your creditworthiness is. See our full credit score guide here to learn more.

If you want to make steps towards improving your credit score, keep reading. Below is an actionable list of five tips to help you this Easter.

1. Examine Your Outstanding Repayments

Easter is an excellent time for new beginnings. The bank holiday comes at the start of spring, signifying the end of winter and time to spring clean our lives ready for summer.

If reviewing your personal finances and credit score is on your list, start the process by examining your outstanding repayments. Any late repayments negatively impact your score, and it’s essential to pay back any overdue cash if possible.

However, if you can’t make payments at this time, create an Easter budget plan and factor in repayment plans. The sooner you pay any bills back, the sooner you can get debt free.

2. Avoid Opening New Credit Accounts

It can be tempting to open new credit accounts, especially if you see a good deal. However, this isn’t a wise action, especially if you have debts to repay in your current credit accounts.

Opening new credit accounts can result in a lower overall credit score, reducing your overall credit account age. This Easter, focus on your open account balances and plan future repayments.

3. Explore Credit Monitors

One of the most important credit score tips is to explore available credit monitoring services. These handy tools allow you to regularly monitor your credit report and any changes to your credit score. Without frequent check-ins, you might lose track of your improvements. These apps aim to help users take control of their personal finances with real-time data.

Top UK credit monitors include Experian, Equifax and Credit Karma.

4. Read Through Your Credit Report

This may sound like an obvious step, but checking your credit report is a critical step. Read through and ensure all data is accurate before you make any repayments. This way, you can dispute any inaccuracies or errors affecting your overall score before making repayments.

5. Consider Professional Assistance

Finally, after assessing all aspects of your personal finances and credit history, it might be time to work with professionals to help you become debt-free. Financial advisors and credit counsellors can assist with your credit score goals. These professionals can help with tailored budget plans to pay off debts and raise your score.

Easter Financial Check-In: Assessing Your Credit Score

After reviewing your information, create a future budget plan to meet your 2023 financial goals. Remember, personal finance goals can take time, and you might need to be consistent and patient before you see positive results. When in doubt, reach out to a professional for expert debt advice.

Who is Polar Credit? We provide online credit lines to assist clients with financial needs. Before applying, customers should note credit is subject to approval and creditworthiness. Read our FAQ first to see if Polar Credit is a good option for you.

More Information

A guide to managing your money: Paying off debt

5 Credit Score Myths Debunked

A Guide to Managing Your Money: Budgeting

How to receive free debt advice

For more helpful information about how to manage your money, different financial products or what we do at Polar Credit, take a look at our Info Hub.