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Frugal Ways Of Re-Building Your Credit Score

Credit score is a funny thing isn’t it? Miss a payment for one thing due to illness or not being paid correctly and your credit score immediately drops making you less appealing to lenders or services that offer a pay over time option for their goods. It’s too easy in this day and age to slip into a rut where your credit score keeps dropping, and it’s difficult to build yourself back up. Here are some frugal ways in which you can rebuild your credit score.

So you’re now out of debt (or well on your way to being debt free at least) and you’re looking on improving your credit score so that you can begin commencing your future plans. Take a look at these ways in which you can improve your credit score:

Stop Spending

A bit of an obvious point, you may think? You’d be surprised at how many people continue to spend money that they can’t spare even after pulling themselves out of debt. Take a look at the direct debits and standing orders that go out of your bank account each month. Can you get rid of anything unnecessary like subscriptions to a magazine or a gym membership that you don’t use?

Getting rid of anything unnecessary will free up some of your money to keep in your bank for any unexpected bills that may come along, or even help towards paying off any debts you still owe. Also, having your bank in credit will get you back in the green with your bank, meaning that if you were to apply for a loan at any point they’d be more likely to lend you money.

Credit Card

Yes, you’ve read that right. Applying for a credit card could boost your credit score massively. There are many lenders that will give a credit card to people with bad credit with the purpose of helping your regain that trust from lenders. offer many different types of credit card, including the type that will accept you even with a low credit score.

Remember though to use the credit card for things that you’re able to pay back, and don’t use it as an excuse to go spending and land yourself in debt again. After a few months, or even a year of showing that you’re trustworthy with money, you should see that companies are more accepting of you because your credit score has improved.

Save To Spend

It’s understandable that there are times in life where big purchases have to be made. For example, if your washing machine breaks then you’re going to need to find the money to buy a new one, and if you’re unable to do that straight away through the use of a credit card or a service like Littlewoods, you might become stuck.

Make sure you’re saving any spare money you can for times like this, so that you don’t have to take out a loan or scrimp and scrounge for the money needed for the necessary items.

Try these three frugal ways of rebuilding your credit score today!


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