Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • rev229
    • By rev229 17th Oct 16, 8:14 AM
    • 1,013Posts
    • 761Thanks
    rev229
    MSE credit club
    • #1
    • 17th Oct 16, 8:14 AM
    MSE credit club 17th Oct 16 at 8:14 AM
    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!!
Page 1
    • zx81
    • By zx81 17th Oct 16, 8:16 AM
    • 9,386 Posts
    • 9,220 Thanks
    zx81
    • #2
    • 17th Oct 16, 8:16 AM
    • #2
    • 17th Oct 16, 8:16 AM
    I'd ignore any of the scores they give you.
    • MSE Chris
    • By MSE Chris 20th Oct 16, 3:03 PM
    • 21 Posts
    • 2 Thanks
    MSE Chris
    • #3
    • 20th Oct 16, 3:03 PM
    • #3
    • 20th Oct 16, 3:03 PM
    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!!
    Originally posted by rev229

    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.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

314Posts Today

1,283Users online

Martin's Twitter