Improve your credit rating

Having good or bad credit can be the difference between purchasing products online and being declined. If you have a bad credit history you could be denied a credit card, which limits your purchasing ability online. So it pays to make a positive attempt to improve your credit rating if your credit score is less than first-rate. Having access to credit means being able to make online bookings, such as hotel, plane or car rental reservations, even if you plan to later pay the balance in cash. Those who have proven that they can repay debt are given more choice by lenders when it comes to credit as a reward for their financial reliability.

How do I improve my credit rating?

If you’ve never had credit, or need to repair a poor credit rating, there are plenty of things you can do to improve your credit rating for the future by making a few small changes to the way you handle your money. Simply put, the easiest way to improve your credit rating is to borrow money and repay it in full and on time. This will help you build up a trustworthy reputation, or repair it if it’s tarnished. Paying in full every month rather than the minimum requirement, which could see you inevitably incur interest, is a more efficient way of managing your debt.Taking out an aqua card and managing your account responsibly – by paying on time each month and staying within your agreed credit limit – may help you improve your credit rating over time.

Representative 35.9% APR variable on the aqua classic card.

Making repayments on time

Try to settle your debts quickly and on time and avoid overspending. Regularly maxing out your card will also work against you as this may be reported to the credit agencies and notified in your credit report. Instead, make payments before the statement closing date to lessen your charges, keeping a close eye on your credit score as it slowly recovers.