March 15th, 2008
Steps To Improve Your Credit Rating (part 2)
Lenders like stability
This is shown in a number of ways, for example being with the same bank, employer and at the same address for a few years. Basically, the more stable your current situation is, the higher your credit score will be.
For instance, homeowners are more likely to score higher than those who rent. If your home has a landline it’s always best to put this down on applications over any mobile number, as this helps with security checks.
Also, the longer you have been with a particular employer the better, and those that are self-employed may find it harder to get approved, even with a large income.