I haven’t checked my credit score in a while so thought it was time to see how I was faring. ClearScore is easy to use, once signed up you have a wealth of information at your fingertips (based on the Equifax credit reference agency scores). The site is easy to navigate; you just click through the headers at the top of the page. You can even see a timeline of your credit history for the last 6 years, it’s pretty in-depth, surprising really considering that ClearScore is completely free to use.
I was rated 472 out of 700 and am apparently “soaring high” that makes me feel more comfortable about my financial situation. But I am not one to rest on my laurels I am still keen to read more about what I can do to improve my score further.
The average UK score for February was 380 – which is much less than my own, I felt much happier reading that knowing I am on the right track. You can also see how you compare with the specific area you live in. This was higher than the UK average here but still not as high as mine (yes I am having a momentary smug moment, let me enjoy it!).
My credit score was “stable” – which sounded quite promising!
Although I didn’t like the sound of 1 negative and I quickly wanted to investigate that. I was quite surprised that’s its down to not having a credit card account, but least it was nothing sinister that I need to worry about or have resolved. Mind you if it had been anything else reading about improving my credit score would have set me off in the right direction.
You can also go through one of the coaching plans depending on your personal needs. I am looking forward to the Maximise Plan becoming available, as I would love to learn how to become wealthier. But for now I tried the Shape Up Plan, as I wanted to feel good about my money.
You get your own To-Do list at the end based on your answers to a series of questions. I think this is very clever and ClearScore get bonus points just because they had cute dog videos incorporated! It keeps you interested in the plan seeing all the little clips. Let’s be honest the plan asks lots of questions, but its worth sticking with it to get to that beneficial To-Do list!!! You can see mine here:
I do worry about money and would say I have average money management skills. However I feel more educated after following the plan, not quite so worried about my finances, as I know what I can do to keep my credit score looking good! I have some useful suggestions to try out as well and articles to go off and read. The plan gives ideas about the types of cutbacks you can make - swapping hubbie to packed lunches is an important one I need to do soon and also switching energy providers for better deals as we have been with our current ones a long time.
According to the plan I need to build up an emergency fund in case unexpected costs came up, three months is recommended! At this point I can’t be quite as smug as I think we have a grand sum of ZERO pounds for emergencies. But as the plan soothes you and says don't worry a lot I feel okay about this, I will just make that budget and slowly have spare cash left over for that contingency fund!
I bet if you follow your To-Do list from any plan you try you will see a marked improvement in your credit score and your finances as a whole! Don't get to the point you need to press the bankruptcy button get on top of your situation now.