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What your credit score really means
Hi! This is the discussion thread for the What credit scores really mean guide. Click reply below to discuss. If you haven’t already, join the forum to reply. Thanks folks,
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What your Credit Score really means - Please read first before posting about a credit score issue.
Hi all! This is the discussion thread for the What credit scores really mean guide. Well, what does your credit score really mean ?. By Martin If you've paid to get a credit score from one of the credit agencies, how reliable is it? We run through the truth about credit scores. I’ve just found out that my credit score has…
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New to the Credit File & Ratings board? Start here
Useful links to MoneySavingExpert.com guides * Top tips to build your credit score * How to check your credit report for Free * Credit Club * Build your credit history * Student credit scoring * Should I get a loan if I have a bad credit score? 💡 If there's a link you think we should include here, please send me a message!
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No Hard Search?
I took out a new credit card, a little under 2 months ago, and it has now appeared on my Clearscore file. However, Clearscore is not showing any Hard Searches. Don't banks perform a Hard Search, before issuing a credit card?
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You need to pay your credit card off IN FULL every month – but do you need to wait for statement?
When using a credit card to build your credit score/rating/worthiness, Martin always says pay it off IN FULL every month. In order to have positive effects on your credit score, do you need to wait for your credit card statement to be generated and THEN pay it off, or is it okay to spend on the credit card and immediately…
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MSE News: TransUnion to change millions of people's credit scores
Credit reference agency TransUnion will soon score you out of 999, instead of the current 710. Yet while your TransUnion credit score's likely to change, this WON'T affect the underlying data on your credit report – and it's this data that lenders generally use to decide whether to offer you credit Read the full story:…
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Credit Card Hacked and Bank
We are in our 80's and my email address was hacked. That led to Banks and Credit Card hacked. It has been horrible and a long tale. (No debts & Credit Card just used for 'JL vouchers' and protection if buying a large purchase but always paid balance each month.) We are now registered with CIFAS and EXPERIAN and thought…
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Voluntary termination of PCP loan.
I have a 36 month PCP loan which has four months to run, so four payments then the final balloon payment. It has always been my intention to hand the car back at the end, but having seen a good deal on a new car, I hoped that I could pay the remaining four payments now then hand the car back. I realise that I must pay 50%…
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Wrong electoral roll address recorded on my Experian file
Hello. The electoral roll address is recorded incorrectly on my Experian file, though fine with Equifax. My address format is (with address anonymised). 14 Leinster Court, 6 Village Road, Town, postcode. Experian have it recorded as 14 Village Road, Town postcode, which is completely wrong. I have lived here for 13 years…
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Are my thoughts about hard searches right or wrong?
My thoughts on hard searches are: As long as the hard searches are successful and the open credit accounts is showing on and reporting to credit agencies then the successful hard searches becomes irrelevant to new lenders. New lenders will check the history of the open accounts in deciding new credit applications. Hard…
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Are Banks Using AI to monitor and action customers credit availability ??
Hi All, I have recently been contacted out of the blue by Santander stating they are removing our approved overdraft of £1600 from our joint account. We have only dipped in to it a couple of times for small amounts for a day or two in the last ten years. 1091 The letter sent to us did not give a specific reason, just a…
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Unused credit - best to keep it or close it down?
Looking for some advice please. After much hard work, I have two zero balance credit cards and two zero balance catalogue/store credit accounts that won't be used again. All have poor/sub-prime interest rates of 32%+. My question - Is it better for my credit score for them to show as unused credit facilities (~£5000…
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Transunion cannot verify identity
I checked my Transunion report several times over a few weeks following my email being hacked. No problem in obtaining it. Then suddenly last week when entering my details it says it could not verify my identity (just after entering name, date of birth, address etc - before the page where it asks you questions about your…
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PayPal credit - missed payment
Hi all, I have a PayPal Credit account which is 0% interest, and I regularly overpay it. I’ve never deliberately missed a payment and, as far as I’m aware, I’ve never had a missed payment on my credit file. My monthly payment is £20 but I always pay £30, sometimes more. About 16 days before the actual payment due date, I…
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Santander - We need important information from you
Hi All, I received a letter today saying we ' we need to make sure the information we hold of you is up to date so we can access full range of products and services. This is also to meet UK legal and regulatory obligations. I have an empty current account, however my mortgage is also with them. They're asking for a lot of…
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Vodafone Reporting Indefinite Monthly Missed Payments For Over 6 Years
I took out a contract with Vodafone in October 2019 and paid £149 by debit card in store for the initial setup fees. The relationship broke down due to personal factors and bereavement grief and no further payments were made. In November 2019 Vodafone suspended the account due to non payment. They subsequently sent an…
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Paypal debt recovery letter - identity fraud
Hi I had a letter from a debt recovery company this morning Moorcroft MDRL chasing a £325.97 debt for Paypal - I'm based in the UK. This is nothing to do with me and I assumed it was some sort of scam. However when googling i saw they're a legit debt company. I contacted them and someone has obtained paypal credit - one of…
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Difficulty removing CCJ after Ombudsman case
Hi, I had a CCJ applied against my name without my knowledge for a debt that I then disputed. The case went to the Ombudsman who ruled in my favour and I was told I would receive GOGW payment and the company would contact the credit agencies to have the mark removed within six weeks. However, this has not happened and the…
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Default Recorded on My credit file, Did they need consent
Hi, This may be a strange question, but was wondering if anyone would know the answer to this. I held a bank account with Lloyds since I was born in the 80s. When I was older I agreed an overdraft facility with them. At points I was living in the overdraft and other times I didnt need it but still had it on my account.…
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Missed mortgage payment - letter from the bank arrived very late
Hello all, my mortgage bank sent a letter that we missed the mortgage payment (direct debit didn’t go through due to not enough money on the account) This letter arrived on Sat 18th July, but it is dated 3rd July - on the letter itself, while there is no indication as far as I can see on the envelope when was the letter…
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Job lost due to illogical Scottish Power 'alleged debt'
My son interviewed for a job yesterday for which he has been told he has been successful, pending credit checks. They have now come back (today) to say that he failed the credit check, as one of the 'alleged' debts is to Scottish Power for almost £1k from November 2022. HOWEVER, HIS 'alleged' debt is for MY address despite…
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Bank error - Missed mortgage payment
Hi there, looking for some advice on how to handle this issue/complaint. My mortgage lender (Natwest in this case) incorrectly recorded a missed payment on my mortgage back in May 2026. They failed to notify me via any means. No letter, email or phone call. I only found this out when I checked my credit report (both…
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Disassociate Myself from My Twin Sister
How do I disassociate my own credit report from my twin sister credit report? We were born on the same day and share one common name. We both live together and I can’t get credit because I apply and the providers check my sister credit report who is in debt. I have no debt and it is frustrating.
