Credit and Me

Monday 25 June 2018

A good credit score is not exclusive to young women but, I wanted to write this blog to stress the importance of maintaining a good credit rating. It is crucial for us to be financially savvy where ever we can be, and part of this is being mindful of our credit history and our credit rating.


A credit score indicates the credit worthiness of an individual and it will be represented through a numerical score. Credit history is how people judge you on your ability to pay bills or debts on time.

Having been guilty of frivolous spending, particularly after the passing of my Mum. I started to buy things as comfort, ‘retail therapy’. As a result of my careless spending and ignorance as to how important a good credit rating is, I went from having a good credit score to a very poor one. Not realising at the time how much of a set back this would be, not only now but in the future, when trying to get on the property ladder or taking out any other form of credit.

After ignoring the severity of my over spending, and often hearing adverts encouraging people to be mindful of their credit score, I felt compelled to contact those that I owed money to and slowly worked towards rectifying the careless damage I had caused to my credit footprint.

A credit rating is a bit like politics and black history, if you don't teach yourself no one will teach you. There are many websites which have some really useful information about what a credit score is, what factors affect credit, and how to improve it.

When I think about the money I wasted regardless of if I was grieving, I would do things very differently, and value money so much more. But now older, wiser and more aware of the importance of saving and spending wisely. I'm on the way to achieving the ‘good’ credit rating which I so long for.

To any woman who may have found themselves in a similar predicament I would say,don't expect your credit to improve overnight. This takes time to build up though it can be done.

Don't forget about the Work It Out service for those of you who don't know, this is a free coaching service where you will be assigned your own personal coach who offers impartial advice through telephone or email at your convenience. I have personally used the service during my time being unemployed.

As far as I know there is nothing out there like this and I would recommend it to anyone who wants that little bit of extra support. They can't offer financial advice, but maybe you can confide in them and they will be sure to be a listening ear.

In addition to Work it Out, I would encourage all you ladies to access your score at least once if you haven't already. Before I made a conscious effort to improve my score the situation seemed bleak, and I was starting to despair.  But, I have increased my credit score greatly in three months and by the end of the year I hope to have ‘excellent’ credit (not an easy thing).

Most credit agencies offer a free 30 day trail period, so why not sneak a peek today and start your journey to maintaining a great credit score….