Most people know that you need a good credit score to be able to borrow money, but how to start building one is a mystery.
Auditor Emma, 22, has never been in debt before, other than her student loans. However, she has heard that getting a credit card could increase her chances of getting a mortgage in the future.
Before applying, what should she consider? Also, if your credit score isn’t great, how can you improve it and why is it worth it?
Money Clinic presenter and FT editor Claer Barrett gives a WORD to Emma’s credit score, with help from Katie Watts, consumer expert at moneysavingexpert.com, and debt counselor Sara Williams, who runs the Debt Camel Blog. Together they explain the hidden world of credit scores, credit reports, and tips on how to use credit responsibly.
If you’d like to be invited to a future episode of Money Clinic, email us at firstname.lastname@example.org or DM Claer on social media — she’s @ClaerB on Twitter, Instagram and TikTok.