1. Check For Mistakes, and Get Them Fixed!
All three major credit reference agencies — Experian, Equifax and Callcredit — are required by law to provide your credit report for £2, which means there's really no excuse for not having reviewed your credit report. Particularly when you consider the possibility that your report has errors, and your credit score is reflecting them.
Review your credit report closely alongside your spending history and, if applicable, the repayment history for any credit you may have taken in the past. If you think there are errors — wrong address, missing accounts, wrong repayment information, etc. — you should notify the credit reference agency directly (Experian, Equifax, Callcredit). The agency has 28 days to either remove the information, or state why they believe the information is correct. Furthermore, if you feel that certain key information is lacking — e.g., you're working, and the debt you have was caused by being out of work — you can add a "notice of correction" to your credit report, articulating the information you want potential credit lenders to see.
2. Pay and/or Repay On Time
This is a longer-term solution, but it deserves a place on this list, as it remains the simplest way to build or improve your credit. It's important to check whether the lender or service provider report payment activity or not, but regardless, whether you're paying utilities or repaying a loan, mortgage or credit card, do whatever you have to do to make sure that your payments are on time and complete. This is the surest way to prove that you're a reliable borrower, which is ultimately what lenders want to know — "Can I trust this borrower to repay in a timely manner, or can't I?"
Show them that the answer is "Yes!"
3. Get on the Electoral Roll
While information like your spending history is obviously included in your credit report, another key element that could make or break your loan request is your voter registration status. This is information that lenders use to verify your name and address in avoiding fraud, and lacking it could be a hurdle. By not having your registration information available on your credit report, lenders may find themselves unsure of your identity, and less willing to give you the funding you need. Head to About My Vote to register, and give lenders one more reason to consider you for a loan.