Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Ficofuture
    • By Ficofuture 5th Sep 17, 6:57 PM
    • 28Posts
    • 4Thanks
    Ficofuture
    Multiple applications......the results
    • #1
    • 5th Sep 17, 6:57 PM
    Multiple applications......the results 5th Sep 17 at 6:57 PM
    First a hello !, been reading a long time but my first post

    This may help others considering doing similar

    all done on same day (weekday during business hours) in this order

    Reason for order, highest chances first going by the individual company eligibility checkers, and existing cards held (17)

    Virgin......instant accept
    Nationwide........instant accept
    Amex.........not instant, but approved next day
    Tesco.......instant accept
    HSBC........Not instant, declined by letter (*Note 1)
    Lloyds......declined online
    Santander........declined online
    Post Office.......awaiting outcome

    At which point i stopped, other than applying for a couple of fuel cards for my business, which were a straight accept, and a
    Company Barclaycard......awaiting outcome


    ALL used Experian, it seems only Nat West business and HSBC business use Equifax nowadays ?
    *Note 1...HSBC did their hard enquiry a day later, so seeing all the other searches, just down to their slow procedure !

    My SCORE (!) went from 975 to 890 for the 10 or so searches, has dropped since to 790 as the accounts start registering, i expect it to fall further as they all catch up.


    Prior to this my Experian SCORE behaved exactly as predicted,
    It went up as each of my last 3 searches went over the 6 months threshold, to the actual date
    It went up as each of these 3 new accounts went over the 6 months threshold, again, perfectly as one would inspect.

    Having seen a lot of bad advice and simply wrong information being given on here, i think we need to set a few simple things straight............

    Anyone saying scores do not matter.........has a low score, or something to hide, period !

    Because, if you do as they are all keen to advise, pay in full, on time, keep your utilisation low, then your score WILL go up !, if it does not, there is more to the story, always !

    Your score is a reflection of your history, in easy to understand terms

    Another gem is the " Banks lend money, credit agencies do not'
    All banks lending money use credit agencies to help decide who to lend to !

    If you want up to date info, as i do, i pay for the service.
    if you want a snapshot of how your file looked 6 to 8 weeks ago, Noddle if free, but pretty useless for those very reasons
Page 3
    • The Boss
    • By The Boss 28th Oct 17, 11:34 AM
    • 5,706 Posts
    • 3,771 Thanks
    The Boss
    Your score reflects what they see !!!!!!!!!
    Originally posted by Ficofuture
    Your "credit score" also reflects the data that they don't see.

    So credit reference agency "scores" are still as indicative as a big steaming pile of poo.
    You don't have a "credit score". They do not exist. The number you are referring to is a a random number produced by the credit reference agency using incomplete data to make money out of you.

    Different lenders score applications for different financial products differently so there is no 'catch all' score that determines your credit worthiness. Lenders use data from your credit file and also data from your application form that is NOT recorded on your credit file, such as your salary (a key driver), when assessing your application. Different lenders have different criteria, another reason a "credit score" means nothing -data that is considered good for one lender may be considered bad for another. Or vice versa.
    • thebestdayever
    • By thebestdayever 28th Oct 17, 5:58 PM
    • 2 Posts
    • 5 Thanks
    thebestdayever
    This is crazy though - i lost some really high credit scores because of it.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,135Posts Today

6,664Users online

Martin's Twitter
  • I believe I can boldly go where no twitter poll has gone before https://t.co/HA0jC92gAK

  • OK I'm wilting to public pressure and there will be a star trek captain's poll at some point next week

  • I can get that. My order is 1. Picard 2. Janeway 3. Kirk. Too early to say where Lorca will end up (or would you? https://t.co/kawtCOe9RA

  • Follow Martin