What your credit score really means

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  • Hi
    I lived in uk for a period of two years 1997 to 1999 as a student . Due to my fathers death I have to discontinue my education. But I had two credit cards in these two years period and I havent paid the dues yet

    Now I got an opportunity to come to UK on tier 2 visa (work permit) so I would like to know will i be able to open a bank account ? my previous credit rating which is almost 19 years old now will it be visible and can dig by the credit reference agencies in UK
    your assistance is highly appreciated..

    Regards,
    Ibis
  • [Deleted User]
    [Deleted User] Posts: 35,242
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    See post #142.
  • Interesting info, I should say.
    Thanks a lot
  • On the electoral roll, I am listed as door number 13, but was listed on Experian as 13C.

    Naturally, I wanted full accuracy, so yesterday I made the error of 'adding' a new address on my report to '13' assuming I'd have the opportunity to then edit and remove the previous entry.
    But, I couldn't and now they seem to be listed as concurrent entries.

    Not a huge issue I thought, so I contacted Experian to get them to remove the '13C' entry and to leave the correct listing of 13. It says they take a few days to action e-mails, which is fair enough.

    Though, I've logged on today and seen that the 'new' concurrent address has pulled through all my accounts and doubled my debt!:T

    Whilst this is a temporary pain in the !!!!, I have updated my e-mail as a reply to ensure they act on this asap!

    Anyway, will this temporary error and negative impact on my file have any lasting damage?
  • I want to buy a SIM card in uk and the offer ends at the end of January I am in Australia until end February they do a credit check. Will I need to be in the country for the credit check
    This is my first post, hope I am doing right
    Thanks
  • DCFC79
    DCFC79 Posts: 40,598
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    ariomart wrote: »
    I want to buy a SIM card in uk and the offer ends at the end of January I am in Australia until end February they do a credit check. Will I need to be in the country for the credit check
    This is my first post, hope I am doing right
    Thanks

    How would they know your abroad ?

    Ask the network concerned.
  • A credit score reflects the individual's creditworthiness which plays the vital role in getting loan or credit.
    Chances of getting loan highly depend upon your credit score because no one is going to give you their money at risk.
  • SD-253
    SD-253 Posts: 314 Forumite
    I paid £3000 of a credit card, how long before it shows up on my MSE credit report? I intend on replacing my credit card, will the credit card companies know now that I have reduced my debt? Paid it last week.
    Put another way is MSE credit report up to date?
    Thank you to anyone who accurately answer this query SD
  • Candyapple
    Candyapple Posts: 3,384
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    SD-253 wrote: »
    I paid £3000 of a credit card, how long before it shows up on my MSE credit report? I intend on replacing my credit card, will the credit card companies know now that I have reduced my debt? Paid it last week.
    Put another way is MSE credit report up to date?
    Thank you to anyone who accurately answer this query SD

    Some companies report to the CRAs monthly, others every couple of months - so the correct answer is it will depend on your card provider. You may not see an update of your balance to your credit file until 3 months time, or it may be next month when you get a new credit report, who knows.

    If you want to replace the credit card with a new one, it would be better to make sure that when you paid off the balance yesterday you closed the account and then just wait until your next monthly update to see if the account is now in the settled section, otherwise if you apply elsewhere, lenders will still be able to see the card's limit and this may affect what limit you are given.

    MSE's report is only as up to date as the day it is produced.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • I've noticed something strange on my rating or should I say ratings! I get the free Experian monthly rating through my credit card but then also found that I could get it free direct from Experian (I'll be applying for a mortgage in a few months so will use the month free full report soon to clear up any discrepancies.)


    The niggle I have is that for the last 3 months the report provided through my credit card from Experian is 833 whilst at the same time, directly from Experian themselves it shows as 988...


    Not sure what to make of that
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