We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Credit Card - MoneySupermarket 'Smart Search'

Options
Morning,

My car insurance is up for renewal next month, and after shopping around I've found the cheapest policy. Usually I pay monthly, but after working out how much interest I'm paying, I've decided I'm going to try and get a 0% spend credit card.

So last week, I ran a search on MoneySupermarket's 'Smart Search', and I come up as 'Needs Improvement'. I found this a bit iffy as I pay off my current CC every month. Because of this, I decided to get a Credit Report from Experian.

After looking through that I can't see anything that would bring down my 'credit score'. I'm on the Electoral Roll, I have a student account (which for some reason isn't on the report) and everything is saying that I haven't missed a payment.

Therefore what I'm asking is, how reliable is the 'Safe Search'?

Comments

  • Rafter
    Rafter Posts: 3,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It is reliable, it is just how credit scores are calculated.

    From what you have said, you are probably classed as 'thin file'

    In otherwords you don't borrow or have many credit or loan accounts, so there isn't much evidence about how good a payer you are.

    Ironically the more debt and loans you have (as long as the total balance isn't too high versus your income) the better your credit rating!

    R.
    Smile :), it makes people wonder what you have been up to.
  • CannyJock
    CannyJock Posts: 3,838 Forumite
    1,000 Posts Combo Breaker
    Once you've done the search and decided who you're going to renew with - check the cashback maximiser:

    http://www.moneysavingexpert.com/shopping/cashback-sites-comparison

    I managed to reduce my car insurance by 50%, and got £75 cashback through Quidco and paid for it on a 0% purchase card :)
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.6K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.6K Work, Benefits & Business
  • 598.3K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.