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    • Orjial
    • By Orjial 16th Sep 17, 1:26 PM
    • 1Posts
    • 0Thanks
    Orjial
    Wildly different credit score across agencies
    • #1
    • 16th Sep 17, 1:26 PM
    Wildly different credit score across agencies 16th Sep 17 at 1:26 PM
    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...
Page 1
    • zx81
    • By zx81 16th Sep 17, 1:42 PM
    • 14,154 Posts
    • 14,849 Thanks
    zx81
    • #2
    • 16th Sep 17, 1:42 PM
    • #2
    • 16th Sep 17, 1:42 PM
    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.
    • YorkshireBoy
    • By YorkshireBoy 16th Sep 17, 1:48 PM
    • 29,537 Posts
    • 17,354 Thanks
    YorkshireBoy
    • #3
    • 16th Sep 17, 1:48 PM
    • #3
    • 16th Sep 17, 1:48 PM
    I got my first credit rejection (increase credit limit) a couple months ago from Halifax. It seems it was blocked by Call Credit (noddle)
    Originally posted by Orjial
    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
    • By KoshB5 16th Sep 17, 2:37 PM
    • 59 Posts
    • 28 Thanks
    KoshB5
    • #4
    • 16th Sep 17, 2:37 PM
    • #4
    • 16th Sep 17, 2:37 PM
    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
    • By Car1980 16th Sep 17, 5:35 PM
    • 233 Posts
    • 112 Thanks
    Car1980
    • #5
    • 16th Sep 17, 5:35 PM
    • #5
    • 16th Sep 17, 5:35 PM
    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
    • By takman 16th Sep 17, 10:10 PM
    • 2,825 Posts
    • 2,360 Thanks
    takman
    • #6
    • 16th Sep 17, 10:10 PM
    • #6
    • 16th Sep 17, 10:10 PM
    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.
    Originally posted by Car1980
    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.
    • Car1980
    • By Car1980 17th Sep 17, 1:16 PM
    • 233 Posts
    • 112 Thanks
    Car1980
    • #7
    • 17th Sep 17, 1:16 PM
    • #7
    • 17th Sep 17, 1:16 PM
    That doesn't make sense. Otherwise everybody with an unblemished credit report would be guaranteed to be accepted by every lender.
    • takman
    • By takman 17th Sep 17, 2:31 PM
    • 2,825 Posts
    • 2,360 Thanks
    takman
    • #8
    • 17th Sep 17, 2:31 PM
    • #8
    • 17th Sep 17, 2:31 PM
    That doesn't make sense. Otherwise everybody with an unblemished credit report would be guaranteed to be accepted by every lender.
    Originally posted by Car1980
    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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