In this episode, Shaz shares great tips on how to build your credit rating and makes it clear what affects and impacts on your credit score and your potential to get credit.

He explains how you can build your credit rating and become financially successful if you understand what to do.

In a world where credit surrounds us along with constant marketing about the importance of having everything now, it’s important to live within your means and fully understand the impact of your credit rating and how you can use it to your advantage.

 

KEY TAKEAWAYS

• Credit cards allow you to borrow money now and pay it back later
• The better your rating the more likely the credit card companies are to increase your limit
• Credit cards give customers protection through section 75 of the consumer credit act for purchases over a hundred pounds.
• Credit cards also help to build your credit rating.
• There are 3 big credit agencies and they operate in different ways to score your credit.
• Your credit rating is dependent on your credit past. Past history is an indicator of future performance.
• Make sure you are on the electoral roll.
• Cancel all unused credit cards.
• Don’t make cash withdrawals on your credit card.
• Make sure your details are consistent as it demonstrates visibility.
• It’s important that you are aware of county court judgements as they will stop you getting credit, loans and mortgages.

 

BEST MOMENTS

‘Make sure you put money into capital appreciating assets’

‘Have an emergency fund and have some money left over for fun’

‘Make sure you live within your means’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.