Wildly different credit score across agencies

I got my first credit rejection (increase credit limit) a couple months ago from Halifax. It seems it was blocked by Call Credit (noddle), as my credit score there is "Poor". However, Equifax and Experian both have me as "Excellent".

I have a steady income, and no "negatives" on my score (electoral register, no default, credit cards paid on time, steady relationships with banks, etc). Why would they vary so dramatically? The information seems to match up on all three scores, just the overall score doesn't...

Comments

  • The scores are all made up and meaningless.

    Choose the one you like best and then ignore that one as well.

    If the history is accurate, you'll have a good idea of how you're doing. None of the CRAs are blocking anything, as they don't make lending decisions.
  • Orjial wrote: »
    I got my first credit rejection (increase credit limit) a couple months ago from Halifax. It seems it was blocked by Call Credit (noddle)
    It will have been an internal decision, ie no external CRA search made.

    They wouldn't generally need to make a search, being as they take a monthly feed from the CRAs.
    The information seems to match up on all three
    "Seems to"? Why not check it more thoroughly?...then you'll know if the data (ie accounts, balances, etc) matches 'EXACTLY'.
  • KoshB5
    KoshB5 Posts: 81
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    There is no standard credit scoring in the UK, each lender will produce their own (by interacting with one or more of the CRA's they submit data to get your credit history) and there can be multiple scores depending on the market they operate in and their business model e.g. Credit Cards, Telecoms, Personal Loans, Prime, Sub-Prime, Current Accounts, Mail Order.....

    The CRA's generate their own scores which they provide to their clients as part of the services they provide BUT they aren't widely used by the market. The score the CRA's provide via their consumer offerings are based on their scoring offerings and show a generic credit score based on what they deem is relevant, to how the market as a whole operates, on the history they hold on you.

    If a CRA credit score changes a persons behaviour for how they use credit and manage their accounts that isn't a bad thing, but their score should not be used to predict how a lender will assess you.
  • Car1980
    Car1980 Posts: 296
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    Do you pay your cards so that you never pay any interest? You'll have an 'excellent' score if you do but can get declined for credit because a new lender won't make any money out of you.
  • takman
    takman Posts: 3,876
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    Car1980 wrote: »
    Do you pay your cards so that you never pay any interest? You'll have an 'excellent' score if you do but can get declined for credit because a new lender won't make any money out of you.

    This isn't correct at all, lenders still make money everytime you use the card to purchase something (from the free the retailers pay).

    I like many people on here never pay any interest on my cards, do a bit of stoozing and get cashback but I have never had any trouble getting any card and always get a good credit limit even though I have a sizeable amount of credit already available to me.
  • That doesn't make sense. Otherwise everybody with an unblemished credit report would be guaranteed to be accepted by every lender.
  • takman
    takman Posts: 3,876
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    Car1980 wrote: »
    That doesn't make sense. Otherwise everybody with an unblemished credit report would be guaranteed to be accepted by every lender.

    Your forgetting the most important thing a lender considers when giving out credit; what the chances are that they will get their money back.

    So someo of the most important things they are looking for is someone who has a history of borrowing money and paying it back on time. They also want to see someone who borrows sensibly and doesn't use every penny of credit they have and doesn't only pay the minimum each month.

    Someone who has no history of borrowing will have an unblemished record but will certainly not be accepted by every lender. Income also pays a big part sp someone on a low income will not be accepted not matter how perfect their credit history is if the lender thinks they already have enough credit.
    Someone who has a history of payday loans will be less likely to get credit no matter if every one is paid back on time. Someone who has only been in their job for a short time will be less likely to get credit no matter how unblemished their record is.

    There are so many different factors taken into account it isn't as simple as you think and not clearing a balance in full some months and paying interest is much more likely to be negative than positive. This is because it is one sign that they could be struggling with money because nobody sensible would pay interest if they didn't have to.
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