Moneysavingexpert.com/ Your Credit Rating discussion area

Former_MSE_Dan · 8 August 2005 at 2:16PM

This is an old discussion about MSE's Fully Researched Credit Scores guide.

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lkoky · 9 August 2005 at 12:35PM

I just got my credit report from experian.

To my surprise, experian only hold two credit account on me:
1. Orange
2. Next Directory for a credit limit of 600 pounds.

there is no reference to my current account and a visa credit card which I have for the last six years.

apart from that there were around 13 previous search from bank, credit card comapny in the past 12 month when I apply for a new account after I moved earlier (the application for a new current accoutn with A&L was turned down).

So all in all, it is a very plain report.

Is there a way to get Experian to talk to my current bank so that my credit card record will show in the report? As I never miss a payment, just thought that will improve my report.
thx

neiluk · 9 August 2005 at 3:57PM

Just applied to Experian and Equifax in order to take advantage of the free trial.

I've been told that using the details I have provided that they cannot verify my identity.

they've asked me to provide;

Two forms of original documentation linking you to your
current address (e.g. utility bill, bank statement, tenancy
agreement, solicitor's letter) dated within the past three
months

Plus,

· A copy of either your passport, driving licence or birth
certificate.

My jobs meant that over the past 4 years I've shifted addresses but I've always been on the electoral register.

I've also had no problem getting credit. In the past 6 months I've switched bank accounts and been given a personal loan with no problems.

Just wondering if its worth my while sending away copies of my passport etc.

Neil

Tharweb · 9 August 2005 at 9:08PM

OK, someone had to ask :think:...by signing up for these free trials and setting up DD's, are you not adding further credit searches to your records?

MSE_Martin · 10 August 2005 at 3:38PM

No you're not getting further searches (well you are, but they don't count so don't worry, i did put it in the article - cos i knew people'd ask

)

gradgrind · 10 August 2005 at 5:33PM

Good idea. Got my report. Where's the cancel link? Anyone found it yet? Or is it one for snail mail?

LizzieAnn_2 · 10 August 2005 at 9:03PM

I recently paid back nearly £10,000 worth of debt via a remortgage, but still have roughly £7500 left to pay and I am doing this via Payplan a non-fee-paying debt counselling service. I do this regularly and my (only 4) accounts left with them are being regularly paid and all the interest has been frozen on these - As a test, I applied for a credit card and was turned down - I do have a credit card from Capital One with a £1000 credit limit but have never ever been overdue or late with a payment from them - is it worth getting a credit report, Martin - or am I just considered a bad risk? I own my house, overpay on my mortgage yet have recently been turned down for a current account and a credit card. Help!

skanger · 10 August 2005 at 9:21PM

Lizzie, You need to get your credit reports and take a look, as you are with payplan your accounts will most likley have been defaulted, and at best will be marked 'arrangement' - That is going to cause you problems getting further credit, and let's be honest - so it should. You aare on the way to debt freedom, but have some way to go, don't spoil it, focus on clearing what you owe, not on getting more credit

PS don't overay your mortgage, clear your payplan debts faster, then overpay your mortgage - that's my view.

Skanger

LizzieAnn_2 · 10 August 2005 at 9:26PM

Thanks Skanger, for someone telling me I am doing something right - debt freedom sounds good. I have just won £125 and intend to put this towards debts too. Thanks for your support. Think I will pop off and get my report. Kindest regards, Lizzieann

bayernq · 10 August 2005 at 9:41PM

It's all well and good putting in your details to these credit firms ---but there are some people in this country who can't open a bank account because of a poor credit score( even tho the bank says it can't tell you the reason for refusal) and can't get a credit card for similar reasons.
Can somebody, therefore, tell me how to apply on-line for a credit score? :mad:

And isn't there some legal technicality, somewhere, about obtaining information, about a third party, that wasn't freely given?

Kerryatter · 10 August 2005 at 10:52PM

Hi - I wonder if someone could tell me how long information stays on your credit file? If you've been in trouble before how long do you need to be 'good' :A before all the 'bad'

info comes off your file?

My husband had an IVA, which is now fully paid and completed - Obviously it's nice being without debt now but we're hoping to move soon or at least change our mortgage company (to whom we pay a ridiculous interest rate :eek: ). How long would we need to wait before applying to a normal lender?

Hope someone can shine some light on this for me!

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