# Improve credit history



## FR978 (7 Apr 2010)

Hi all,

new to this site. Moved back to Dublin in January after 6 years in London (was at College before that move). Missed out on the boom but thankfuilly (for me) it's not such a massive difference between now and when I was at college... also, it's just nice really to be home!

ANYWAY, my credit history is zero and just want some tips on how to improve it. Am saving small amounts with credit union, have been declined (even a small) credit card from mbna. Just wondering, for the purposes of getting a mortgage, what I can do to increase my chances and be a 'good bet'.

Thanks in advance

ps. there may be a better thread that I could have used, so apologies if this is the wrong one.


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## UFC (8 Apr 2010)

The only way to get a credit history is by getting credit!

So, that means getting out a loan and paying it back.


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## dmos87 (8 Apr 2010)

Does loaning from the CU also improve this Credit History? Or is it just banks that show?


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## fizzelina (9 Apr 2010)

FR978 said:


> Just wondering, for the purposes of getting a mortgage, what I can do to increase my chances and be a 'good bet'.
> 
> .


 
If the issue is that you want to increase your chance of a mortgage then you need a deposit saved (at least 10%) and a steady job you have been in a while - there are many threads in mortgages on how to get one, these are just 2 things. It's not credit you need for a mortgage - taking out a personal loan to improve your chances is not needed and anyway banks like to see no loans held. You could open a savings account and save as much as you can each month, preferably same amount each month so it looks steady, and then you can prove your repayment ability to a bank in a mortgage application.


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## demoivre (9 Apr 2010)

dmos87 said:


> Does loaning from the CU also improve this Credit History? Or is it just banks that show?



If the CU is an [broken link removed] then the loan history should show.


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## ziltwo (9 Apr 2010)

I have a CU account for years and years ... i did an ICB check on myself and the Credit union is not shown on it.
zil


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## FR978 (19 Apr 2010)

UFC said:


> The only way to get a credit history is by getting credit!
> 
> So, that means getting out a loan and paying it back.



thanks for your replies!

ufc, my initial post should have clarified the loan/credit issue... I can't get any. 

Zil, I have started a savings account, as I too saw that my CU savings seem a waste of time completely in terms of improving credit rating, as they don't show on any credit search I've done. 

Any other tips would be gratefully received. I have since spoken to AIB about it and Fizzelina, you're right it focuses on affordability, so showing you can 'afford' to save lots and lots puts us in a good position.... that's if we can


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