Zopa. Neither a borrower nor a lender be!

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  • Talon_Karrde
    Talon_Karrde Posts: 143 Forumite
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    i'm upset.
    my credit score is only 387
    i have never defaulted on mortgage(s)with nationwide have good overdraft and credit card limit with natwest (both unused) have a HFC interest free loan which i have never defaulted on. had another loan with nationwide which was paid off no defaults.
    I have live in two addresses in last 5 years, previous address for 2 years 2 months, current address from jan 2003 til present (no intention to move)
    am 31, married earn good salary...
    only thing i can think is we have applied for and utilised around 5 CC's over the past 12-14 months for stoozing. therefore of the 4 active CC's i have 1 is natwest(nothing on it) 2 are stoozed, 1 is in use, but not anywhere near limit.

    hmph is what i say!
    Mind you, i did apply for the best buy sainsbury card end of last year and was declined...although i found out just couple of weeks ago from this site that it is run by halifax, whose "one" card was our first stooze. this account has been cancelled but only about 9-12 months ago.....

    any advice?
    ta muchly
    Ace
    Talon "Ace" Karrde
    the more i see, the more i know, the more i know, the less i understand
  • kajman
    kajman Posts: 20 Forumite
    First Anniversary Combo Breaker
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    Talon,

    The credit score seems to depend quite a lot on your address. If there are a lot of Gold Card holders/high value properties in your neighbourhood it increases your rating.

    So it is not just your actions that determine your ratings , blame your neighbours for your low score!
  • busabus
    busabus Posts: 99 Forumite
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    Talon, just a quick side note, I had the One card which I did a BT on and never spent on, and just before it expired I signed up with Sainsburys no problem. Most likely you got declined because of your rating rather than them being the same company.
  • deemy2004
    deemy2004 Posts: 6,201 Forumite
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    Talon_Karrde wrote:
    i'm upset.
    my credit score is only 387
    iany advice?
    ta muchly
    Ace


    Have you missed or been late on any payments ?
  • Talon_Karrde
    Talon_Karrde Posts: 143 Forumite
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    see...now i'm even more upset!

    i just don't geddit. I consoled myself that i was turned down by the sainsbury's one due to the halifax connection, now you say it's not the case!
    I have never been turned down by any other lender, the only thing that springs to mind is capital one platinum, which we applied for due to the interest free period...but they set me a paltry £200 credit limit! all others have been between 3 and 7.5 k (MBNA, Halifax one, MINT, Barclaycard)
    I did an equifax credit check on me at my last address, but not the current one....you think it might be worth doing one for this address?? if so, is there a difference between experian and equifax?

    In answer Deemy, no, never, i/we have never defaulted on a single payment even when i had a 2 grand loan at 18...it all got paid on time.

    My brother has alot of debt, but we haven't lived at the same address for over 10 years and i have moved twice since then.

    any takers??
    ta muchly!
    Ace
    Talon "Ace" Karrde
    the more i see, the more i know, the more i know, the less i understand
  • MoneyMachine_2
    MoneyMachine_2 Posts: 121 Forumite
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    My credit score came out at 290!!!!
    I recently had my credit rating back from Experian as 899 out of 1000. So whats the deal??
    It seems that in order for me to obtain credit I need to choose lenders who use Experian (get good credit) rather than Equifax (turned down straight away.)

    How can my credit scores have such a large divergence???

    I have had 3 addresses in the past 5 years and the Zopa thing only went back to my previous address. A few missed card payments (All credit cards are now set up to direct debit the minimum) but certainly nothing serious. I have had at least 3 loans which have been fully paid off and never missed a payment.
    I'm loathe to spend £9 to view my Equifax report. Anyone knoe if you can obtain this for free anywhere??
  • deemy2004
    deemy2004 Posts: 6,201 Forumite
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    Its probably the change of address.

    Looks like to Zopa if you have changed your address within the last 5 years your a risk !
  • michaels
    michaels Posts: 28,050 Forumite
    Photogenic Name Dropper First Anniversary First Post
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    Hey - it is great seeing what has been transacted - there seems to be a real arbitrage opportunity here!
    I think....
  • Stig_3
    Stig_3 Posts: 1 Newbie
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    deemy2004 wrote:
    Its probably the change of address.

    Looks like to Zopa if you have changed your address within the last 5 years your a risk !

    I moved 9 months ago (and 8 years before that) and I got a credit rating of 511 !

    I think Zopa is great for people like me with a good credit history but low income. I got refused for a £2500 advance on my mortgage when I have £80,000 equity!
  • burbs_2
    burbs_2 Posts: 1,174 Forumite
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    has anyone actually used this? a friend said that it is already in trouble, surely not?
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