Firstly I would like to start this by highlighting the reasons why your credit score is so important as this can impact the rates you pay on loans this is particularly important when your looking to by a house using a mortgage and for those looking to invest in rental property this should be something you work on whilst saving for your first or next deposit.
Increasing your available credit
This can be achieved by applying for a credit card when doing this its important to remember that you should always repay the full amount you don’t want to be paying any interest, you also shouldn’t be apply for multiple credit cards at once as doing so will temporarily impact your credit score.
Id recommend getting a credit card once every 6 months or so, applying for a card that has no fees, this is because if you only goals is to increase your score you want to keep it free or at least as low cost as possible however after about 5 credit cards if you wanted to get a rewards card with an annual fee and you can get positive expected value from doing this then of you may want to do so however make sure to check you will use the rewards you get.
Download Credit Score Apps
Whilst doing this won’t directly impact your credit score I found by doing so I became more aware of how I could increase my score many of these apps give you specific actionable steps to increase your credit score which I found to be very helpful.
Setup Direct Debits To Pay Cards In Full
One thing which will have a big impact on your credit score is missed payments to avoid this happening I’ve found it helpful to setup direct debits, this way as long as you have enough money to pay off the credit cards you will never miss a payment this helps to paying off cards in full every month easy to achieve.
Only Use Credit Cards On Small Purchases
This helps to keep credit utilisation low and it keeps paying of credit cards easy, the only exception I have to this is when using rewards card it could be a good idea to put everything payment through it to increase the value you get from the card however when doing so you have to be disciplined enough not to start spending more than you can afford other wise you may find yourself getting into financial problems.