MSE credit club

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rev229
rev229 Posts: 1,045 Forumite
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in Credit file & ratings
I joined the MSE credit club my score is 987. However my affordability score is in the red.....very poor! Apparently is my debt to income ratio! Now this is odd, I have no debt just my car on a PCP which is well within my budget. Both mortgage and debt free and credit card paid off every month, less the £200 per month. Can anyone shed any light on this. My husband had no debt either, just a car on HP but again nothing we can't afford. We have no overdrafts, loans, and save most of my salary. Never been declined on a bank or credit application either! Very confused!!
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    I'd ignore any of the scores they give you.
  • MSE_Chris
    MSE_Chris Posts: 200 MSE Staff
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    rev229 wrote: »
    I joined the MSE credit club my score is 987. However my affordability score is in the red.....very poor! Apparently is my debt to income ratio! Now this is odd, I have no debt just my car on a PCP which is well within my budget. Both mortgage and debt free and credit card paid off every month, less the £200 per month. Can anyone shed any light on this. My husband had no debt either, just a car on HP but again nothing we can't afford. We have no overdrafts, loans, and save most of my salary. Never been declined on a bank or credit application either! Very confused!!


    Hi there,


    If your PCP appears on your credit report and the remaining balance is high or close to your income amount (income entered when you registered for credit club), this will cause your debt ratio to be high and appear will appear weak.


    Not to worry, lenders may still consider you a good risk and lend to you. You'll see how well you appear to lenders in the credit hit rate (%) score.
  • tosyn
    tosyn Posts: 67 Forumite
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    how it is different from noodle, clearscore etc?

    there are at least 4 different providers supplying free credit scores promoting affiliate business's products linked to a person profile.

    In my opinion, ML is a bit slow to realise this opportunity.
  • ashp_2
    ashp_2 Posts: 416 Forumite
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    tosyn wrote: »
    how it is different from noodle, clearscore etc?

    there are at least 4 different providers supplying free credit scores promoting affiliate business's products linked to a person profile.

    In my opinion, ML is a bit slow to realise this opportunity.

    Noddle provides your report for free from Callcredit.

    Clearscore provides your report for free from Equifax.

    MSE credit club provides an insight into your Experian report although not your full report (Currently). It's basically the closest you can currently get to your Experian report without paying.

    All 3 credit reports can be different and it's good to be able to view all 3 for free!
  • molerat
    molerat Posts: 31,952 Forumite
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    Which bits of Experian data is missing from the MSE report ? All the headings seem to be there for me.
  • ashp_2
    ashp_2 Posts: 416 Forumite
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    molerat wrote: »
    Which bits of Experian data is missing from the MSE report ? All the headings seem to be there for me.

    Have they updated if now so you can see your full report? I new it was coming but didn't realise it had already happened! If this is the case I withdraw my statement! :)
  • Candyapple
    Candyapple Posts: 3,384 Forumite
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    ashp wrote: »
    Have they updated if now so you can see your full report? I new it was coming but didn't realise it had already happened! If this is the case I withdraw my statement! :)

    Yes, it was implemented on 13 Feb: http://forums.moneysavingexpert.com/showthread.php?t=5522743&page=7
    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
  • takman
    takman Posts: 3,876 Forumite
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    tosyn wrote: »
    how it is different from noodle, clearscore etc?

    there are at least 4 different providers supplying free credit scores promoting affiliate business's products linked to a person profile.

    In my opinion, ML is a bit slow to realise this opportunity.



    Well MSE Credit Club and Clearscore both provide information based on data from your credit report and a "noodle" is a food item with its origins in Asia.
  • tosyn
    tosyn Posts: 67 Forumite
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    takman wrote: »
    ...."noodle" is a food item with its origins in Asia.

    :-) In this threads context, you'll realise you'were wrong when you click the link below:
    https://www.noddle.co.uk/
  • takman
    takman Posts: 3,876 Forumite
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    tosyn wrote: »
    :-) In this threads context, you'll realise you'were wrong when you click the link below:
    https://www.noddle.co.uk/

    That link takes you to "noddle" but you clearly said "noodle" in your post ;) :rotfl:
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