How university could have messed up your credit score.

Calling all graduates – did you know your credit rating could have been affected while you were at university?

And it’s not because of your student loan – that doesn’t even show up on your credit report.

In-between partying until 4 in the morning, sleeping until noon and attending the odd lecture in the afternoon, you may have forgotten to pay your water, gas and electricity bills – and this means your credit score could have taken a tumble.

New research from ClearScore found that nearly half of university students were named on utility accounts with housemates, and 1 in 5 even admitted to skipping payments. That’s almost 400,000 of you just over the last three years!

If you’re sat there thinking ‘guilty’, give yourself a slap on the wrist. Whether you simply forgot about your bills, thought someone else had paid them or skipped the payments, you could be at risk of being rejected for credit in the future. ClearScore’s study reveals that the average credit rating for students is 333, which is well below the national average of 380.

What does this mean?

Unfortunately, a poor credit score could make it much harder for you to get approved for credit, rent a property or even take out a mobile contract!

But don’t worry, it’s not all doom and gloom. There are many ways you can improve your credit score, such as:

• Pay your bills on time and in full
• Get rid of bad financial associations by closing joint accounts
• Join the electoral roll
• Close unused credit, debit or store cards
• DON’T keep applying if you get rejected by credit. Space out your loan applications.

By following our five top tips for a better credit score, you can make sure the transition from university to adult life is as seamless as possible!