What your credit score really means

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Comments

  • LSinclair
    LSinclair Posts: 11 Forumite
    I'm new to the whole credit score never took it seriously until now, I've got a short term debit off £2124, which isnt bad in some ways but I've never paid my bills which I am now, my score is 484, if I pay my debts for a whole year without fail, and no searching for lenders what score should I have this time next year? and how does the point sytem actually work
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Your score doesn't matter.

    Have you read any of the above posts?
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    LSinclair wrote: »
    I'm new to the whole credit score never took it seriously until now, I've got a short term debit off £2124, which isnt bad in some ways but I've never paid my bills which I am now, my score is 484, if I pay my debts for a whole year without fail, and no searching for lenders what score should I have this time next year? and how does the point sytem actually work

    Who knows but no 1 sees your score except you and only you.

    You started off fine by not taking it seriously.

    An example of the scores meaning nowt is a poster on here has a poor score yet they still get headline rates.
  • mnaali
    mnaali Posts: 2 Newbie
    I just checked my credit file and am really scared to see the following notes that I have a CCJ registered in my name,
    please advise and help, as I have no information about this, never received any correspondence or notice or letter, I only checked my file as wanted to apply for a credit card.
    please help and advise.

    Name: Mr Mir Ali Date of Birth:
    Court Details: COUNTY COURT BUSINESS CEN / C5GY627E Type: County Court Judgment (England, Wales and Northern Ireland)
    Court Date: 16/03/2016 Amount: £702
    Date Satisfied:
    please adv ise
  • hamish05064
    hamish05064 Posts: 9 Forumite
    No need of these scores the question is useless one
    .
  • Edin_Bear
    Edin_Bear Posts: 1 Newbie
    Hello, I'd like some help, or at least some advice about my Credit Score please. I have read the article about 'you don't have a credit score' but it seems the banks haven't read it, so here goes my question:


    How do I 'improve' my score? Currently my Equifax score is 310. I am on the Voter's Roll at my current address, and have been for 2 years. I have a limited amount of credit, less than £9K, and it is well managed, all payments up-to-date. No history of adverse, or missed payments etc. In short, nothing to pull my score down, but it is 310. By comparison, my Experian score is 977.


    Can anyone suggest what I should do to help improve my Equifax score?
    Thanks
  • fromtheshires
    fromtheshires Posts: 310 Forumite
    First Post First Anniversary Combo Breaker
    Just looking at the main MSE website and see a huge glaring error of 'Pay on time to boost credit score' really MSE? Link to the story to boost your score below.....

    http://www.moneysavingexpert.com/mortgages/rental-exchange-scheme
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    fromtheshires wrote: »
    Just looking at the main MSE website and see a huge glaring error of 'Pay on time to boost credit score' really MSE? Link to the story to boost your score below.....

    http://www.moneysavingexpert.com/mortgages/rental-exchange-scheme


    Do you think you could possibly enlighten us as to what this huge glaring error actually is?
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    mnaali wrote: »
    I just checked my credit file and am really scared to see the following notes that I have a CCJ registered in my name,
    please advise and help, as I have no information about this, never received any correspondence or notice or letter, I only checked my file as wanted to apply for a credit card.
    please help and advise.

    Name: Mr Mir Ali Date of Birth:
    Court Details: COUNTY COURT BUSINESS CEN / C5GY627E Type: County Court Judgment (England, Wales and Northern Ireland)
    Court Date: 16/03/2016 Amount: £702
    Date Satisfied:
    please adv ise


    Your post is dated 5th April.
    You say that you have no knowledge of this now settled ccj which was obtained only 3 weeks prior to the date of your post? How can it be settled unless you paid it?
    It also appears to have updated on your credit files quite quickly.
    If you really don't know anything about it suggest you contact the credit reference agency reporting it to inform them NOT YOU.
  • fromtheshires
    fromtheshires Posts: 310 Forumite
    First Post First Anniversary Combo Breaker
    Ben8282 wrote: »
    Do you think you could possibly enlighten us as to what this huge glaring error actually is?

    Sure. They are insinuating that people need to improve their score when this is not the case as a score means nowt to a lender as its fictional......
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