Credit Rating

[zozotickle]

I am trying to pay off my loan and credit cards as soon as possiable because i want to get a mortgage in about a year or so. does anyone know - once ive paid off all my debt how long it takes to show on my credit rating that i have paid them off? and how long will it take for my credit rating to improve? thank you

[Ethel]

As soon as you have paid off your credit card - cancel them in writing, except for one or two you want to keep.

Get a free credit report here:


http://www.experian.co.uk/

Be aware that it will cost �5 to get your actual 'rating' - and I'm not sure it is worth it.

You will be shocked at the amount of information that is held about you.

When you have paid off your debts this should be reflected quite quickly on the reports - but the 'rating' may take some time to change. Each lender has its own criteria.

[zozotickle]

Thank you for your help, has anyone had any experience with this?