BadCredit.co.uk is committed to assisting individuals who are excluded from mainstream lending to improve their credit scores and secure credit.
Recently, the company discovered a simple yet highly effective strategy: registering on the electoral roll – and it has already produced significant results.
The electoral roll, or electoral register, is a list of individuals eligible to vote. Beyond voting, it is essential for credit applications, as lenders use it to verify your identity and address.
In early April, BadCredit.co.uk launched a follow-up campaign urging previously declined applicants to register on the electoral roll, monitor improvements to their scores, and reapply if an improvement is noted.
Since the company only conducts soft credit searches, there are no long-term negative effects from performing multiple loan search applications on its site.
Encouraging clients to register on the electoral roll has thus far resulted in a 27.7% increase in successful credit applications.
Paul Gillooly of BadCredit.co.uk stated, “Through our discussions with numerous declined applicants, we discovered that many were either unaware of the positive impact that registering to vote could have on their credit scores, or they had not updated their electoral roll to reflect their current address.”
