Credit Scroe NEVER Changes...

245

Comments

  • Shakin_Steve
    Shakin_Steve Posts: 2,700 Forumite
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    keiran wrote: »
    I have often heard that the scores are meaningless and created by CRAs to simply upwell their other products, etc

    I am not sure, however, by the blankets assertions that no lender uses the scores at all. If not presently, I can easily see how in future lenders may use such scores to, at least, weed out complete no-hopers, etc
    I can assure you they don't use them because they can't see them, only you can.
    I came into this world with nothing and I've got most of it left.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    You're building or fixing you credit history.

    What's you current situation?

    Any defaults? Late payments? Arrangements to pay?
  • tenchy
    tenchy Posts: 486 Forumite
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    Shakin_Steve wrote: »
    I can assure you they don't use them because they can't see them, only you can.


    I've seen in this forum - can't remember exactly where - that some lenders do take the CRA-generated scores to make lending decisions.
  • Carrot007
    Carrot007 Posts: 4,534 Forumite
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    tenchy wrote: »
    I've seen in this forum - can't remember exactly where - that some lenders do take the CRA-generated scores to make lending decisions.

    Yes if that's what they buy off the CRA. However it is not the score you see so not comparable.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    tenchy wrote: »
    I've seen in this forum - can't remember exactly where - that some lenders do take the CRA-generated scores to make lending decisions.

    I've seen somewhere that the Royal Family are lizards and Prince Philip killed Princess Diana.
  • tenchy
    tenchy Posts: 486 Forumite
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    Carrot007 wrote: »
    Yes if that's what they buy off the CRA. However it is not the score you see so not comparable.


    So, some lenders buy a/the score from the CRAs. What evidence is there that they buy a different score from that seen on your file? Why would the CRAs have such a 'dual-scoring' system?



    I think a big problem here is that no one who contributes to this forum actually works for any of the credit bureaus, so we never get definitive answers on anything.
  • Shakin_Steve
    Shakin_Steve Posts: 2,700 Forumite
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    But anyone that did work for them couldn't tell us, or they'd have to kill us.
    I came into this world with nothing and I've got most of it left.
  • Shakin_Steve
    Shakin_Steve Posts: 2,700 Forumite
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    Deleted_User wrote: »
    I've seen somewhere that the Royal Family are lizards and Prince Philip killed Princess Diana.
    50% right, then :D
    I came into this world with nothing and I've got most of it left.
  • Shakin_Steve
    Shakin_Steve Posts: 2,700 Forumite
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    tenchy wrote: »
    I've seen in this forum - can't remember exactly where - that some lenders do take the CRA-generated scores to make lending decisions.

    So.....Tom earns £5000 a year, has two credit cards with £250 limits, both up to date, and pays his phone bill on time. Score:999.
    Bill earns £100,000, has a mortgage, several loans and credit cards, all up to date. Score:999.
    Hmmmmm.......
    I came into this world with nothing and I've got most of it left.
  • bazzyb
    bazzyb Posts: 1,585 Forumite
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    DigitalDevil wrote: »
    So how do I move myself from the

    “Sorry, you’ve been unsuccessful in obtaining credit.....”

    To

    “Congratulations, your application has been approved”

    I don’t use any of the credit checking services to “look for deals” so I guess I don’t fall into the standard type user, I was using it as a means to gauge when I would have improved my file enough to apply for credit again, but going by what everyone has said this is not the purpose of the credit checking services at all..... so I’ve been using them wrong for almost 5 years

    You need to be looking at your credit history rather than your score. You can see the data that is visible to the lender, and each lender will use that data differently.
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