Martin Lewis advises on the best way to improve a credit score – ‘pay in full!’


Martin Lewis, Money Saving Expert, is well-known for helping people tackle their debt, and today he showed another example of doing so. Appearing on ITV‘s This Morning Martin spoke to one gentleman named Ian who was looking to improve his financial wellbeing. Ian was looking for ways to increase his credit score and decided to take out a credit card to do this.

The time at which a credit card should be paid off was also a question posed by Ian, who looked for more clarity.

Martin went on to explain: “When you pay it off in the month is neither hither nor tither, as long as you pay it off in full!

“What I would suggest you do is to set up a Direct Debit to clear this in full each month.”

This approach is likely to be advantageous for Britons looking to tackle any credit card arrangements they may have.

Martin said: “If they don’t have pay off in full on the form, they really should do.

“But if they don’t then you have a right to do the Direct Debit to pay the balance off in full.

“Of course, you should keep a track of how much is on it, you don’t want a shock when it makes you overdrawn as overdrafts are more expensive than credit cards.

“When you pay it off doesn’t matter, Direct Debit will clear it all in time, and once you put something on it, after a year or so, it should improve your credit score.”

Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip

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