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What is the Moneymeans Credit builder program?

The Moneymeans Credit builder program has been tailor made to help people who need to repair or re-establish their credit files. With our experience we have come to realise the problems that effect people with low credit scores. It's very much a 'catch 22' situation. Without a credit facility you can't repair your credit file and without a repaired credit file you cannot get a credit facility.

See our Credit Builder FAQ page for more answers.

"Our unique program will help you to break this vicious circle. We are able to offer you goods and services that are entered directly onto your credit file and updated on a monthly basis."

For example people who are currently in a debt solution or have recently been made bankrupt will have to wait a very long time for their credit files to be returned to normal. They then face the challenge of rebuilding it themselves from scratch with no help or assistance. This is a costly and time consuming operation. The main reason for this is because unless you actively look at your credit profile and actively make applications to all the credit reference agencies to remove entries that no longer need to be registered, you can be handicapped by entries going back longer than 6 years. This means that you are unnecessarily being held back. So it is really important to make sure potential lenders only see what they are entitled to see.

Get a Better Credit Score

Have you ever been refused credit? Before granting credit or approving a mortgage, banks and finance lenders will first check your credit report with a credit reference agency. The credit reference agency will not make the decision or apply the credit limit - that is decided by the lender. But the lender will combine the information that they know about you and what you may have told them, with the information on the credit check which they obtain. This is measured by what is known as your credit score which is measured out of 1000 on a point scoring system.

Establish your credit profile

Lenders like to see that you have successfully repaid debts in the past before they give you credit. If you are new to the UK, only 18 or have never had credit before, you may suffer from a "thin credit file". Our Credit Builder is a proven way to add information to your credit profile to demonstrate that you're a reliable, creditworthy customer.

Areas where a credit check is carried out against you:

Loans
Credit cards
Mortgages
Utility companies
Mobile phone contacts

It's also becoming increasingly popular for companies to carry out a credit check on any future employee or for landlords checking on potential tenants, so a better credit score may help you get that job or accommodation you apply for.