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  • FIRST POST
    • MSE Helen Saxon
    • By MSE Helen Saxon 19th May 14, 5:51 PM
    • 73Posts
    • 39Thanks
    MSE Helen Saxon
    What your credit score really means
    • #1
    • 19th May 14, 5:51 PM
    What your credit score really means 19th May 14 at 5:51 PM
    Hi!

    This is the discussion thread for the



    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.


    Thanks folks,
Page 8
    • ibisky
    • By ibisky 2nd Jan 17, 4:05 PM
    • 3 Posts
    • 0 Thanks
    ibisky
    Credit history from the year 1999
    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
    • zx81
    • By zx81 2nd Jan 17, 4:15 PM
    • 10,800 Posts
    • 10,713 Thanks
    zx81
    Answers on your duplicate post.

    http://forums.moneysavingexpert.com/showthread.php?p=71855743#post71855743
    • ibisky
    • By ibisky 3rd Jan 17, 6:25 AM
    • 3 Posts
    • 0 Thanks
    ibisky
    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
    • zx81
    • By zx81 3rd Jan 17, 7:03 AM
    • 10,800 Posts
    • 10,713 Thanks
    zx81
    See post #142.
    • Marcelo90
    • By Marcelo90 9th Jan 17, 11:54 PM
    • 1 Posts
    • 0 Thanks
    Marcelo90
    Interesting info, I should say.
    Thanks a lot
    • steevio_uk
    • By steevio_uk 17th Jan 17, 1:02 PM
    • 43 Posts
    • 3 Thanks
    steevio_uk
    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!

    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?
    • ariomart
    • By ariomart 21st Jan 17, 10:56 PM
    • 1 Posts
    • 0 Thanks
    ariomart
    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
    • By DCFC79 21st Jan 17, 11:38 PM
    • 28,711 Posts
    • 18,133 Thanks
    DCFC79
    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
    Originally posted by ariomart
    How would they know your abroad ?

    Ask the network concerned.
    Je Suis Charlie
    • rossk0675
    • By rossk0675 15th Feb 17, 7:55 AM
    • 1 Posts
    • 0 Thanks
    rossk0675
    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
    • By SD-253 15th Feb 17, 10:40 AM
    • 313 Posts
    • 782 Thanks
    SD-253
    Change to debt
    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
    • By Candyapple 15th Feb 17, 11:27 AM
    • 1,668 Posts
    • 1,320 Thanks
    Candyapple
    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
    Originally posted by SD-253
    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.
    • childofbaahl
    • By childofbaahl 1st Mar 17, 7:43 AM
    • 16 Posts
    • 2 Thanks
    childofbaahl
    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
    • zx81
    • By zx81 1st Mar 17, 7:45 AM
    • 10,800 Posts
    • 10,713 Thanks
    zx81
    Probably a timing issue, and because all the scores are gibberish, whichever way you look at it.
    • Rothstein
    • By Rothstein 3rd Mar 17, 4:41 PM
    • 90 Posts
    • 11 Thanks
    Rothstein
    Mine isn't, it makes perfect sense, goes up and down as one would expect ...

    What IS wrong with yours ?, who do you work for ?
    • zx81
    • By zx81 3rd Mar 17, 5:45 PM
    • 10,800 Posts
    • 10,713 Thanks
    zx81
    Nothing wrong with mine. It's a number, as it is meant to be.

    But more relevantly, there is nothing wrong on my credit reports. No missed payments or defaults, balances paid in full, ER all correct and so on.
    • Rothstein
    • By Rothstein 3rd Mar 17, 6:43 PM
    • 90 Posts
    • 11 Thanks
    Rothstein
    So you accept YOUR number is a true reflection of your credit worthiness ?

    So why the constant dismissive comments about scores ?, what system would you like to see instead ?

    Obtaining credit is a black art , and not all the simple rules apply
    • zx81
    • By zx81 3rd Mar 17, 6:54 PM
    • 10,800 Posts
    • 10,713 Thanks
    zx81
    So you accept YOUR number is a true reflection of your credit worthiness ?
    Originally posted by Rothstein
    No, Because it's just a number.

    I am happy with the underlying system that is in place and actually used. Credit files and raw data.
    • Rothstein
    • By Rothstein 3rd Mar 17, 7:00 PM
    • 90 Posts
    • 11 Thanks
    Rothstein
    It's a fluctuating number, a reflection of, in the same way bank references work, how else would you suggest they appraise your creditworthiness ?
    • childofbaahl
    • By childofbaahl 4th Mar 17, 1:19 PM
    • 16 Posts
    • 2 Thanks
    childofbaahl
    I'll have to look into the dates that the two numbers are generated, you are probably right that it's the fluctuating nature of my finances. Just seems weird that they bounce back and forth between the same two numbers all the time.
    • Ashan
    • By Ashan 17th Mar 17, 11:51 AM
    • 39 Posts
    • 55 Thanks
    Ashan
    I have applied for 2 simple bank accounts this week and got rejected for both.
    Barclays first and then Bank of Scotland.
    I have a credit card opened 14 months ago with a limit of £800 and a credit shopper account opened by very (my mistake) of £750 opened about 4 months ago which hasn't been used.
    Should I cancel the very account as the max credit is right now 800+750 almost 85% of my monthly income, or should I leave it there dormant?


    I understand now that they might have refused my application because I wasn't born here, and because although lived here for more than 5 years, I have been living at the current address for just 2.4 years and with my employer just for 13 months.
    I remember when I opened my first Barclays account online, the employee there, upped my numbers in the application only so that I can get accepted.
    Now that I have been refused, what should I do? I don't want the Barclays account that much, but I need the BOS one for Vantage.
    Should I apply in the branch?
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