New MSE Credit Checker Tool - Please help us test if you have 5 mins

PROLIANT

So Credit scoring is fair and impartial right? No it is not! Somebody who pays all of their credit on time irrespective weather they have applied for too many things in a short space of time should score higher than somebody who pays their bills on time but has a high debt to income ratio, snobbery has always surrounded credit scoring and unless somebody makes a change that goes in the favour of the weaker applicants then it will stay like this forever.

LongTermLurker

PROLIANT wrote: »

So Credit scoring is fair and impartial right? No it is not! Somebody who pays all of their credit on time irrespective weather they have applied for too many things in a short space of time should score higher than somebody who pays their bills on time but has a high debt to income ratio, snobbery has always surrounded credit scoring and unless somebody makes a change that goes in the favour of the weaker applicants then it will stay like this forever.

Isn't "favouring the weaker applicants" what caused the sub-prime mortgage issues in the states? Lending to the less-able to pay back? Of course they're going to favour the ones with more spare cash at the end of the month - a higher chance of payback equals a lower risk of default.

Or am I missing your point?

PROLIANT

LongTermLurker wrote: »

Isn't "favouring the weaker applicants" what caused the sub-prime mortgage issues in the states? Lending to the less-able to pay back? Of course they're going to favour the ones with more spare cash at the end of the month - a higher chance of payback equals a lower risk of default.

Or am I missing your point?

No, sub prime, ergo people who refuse/cant pay back debt, they are high risk, the family with a hefty mortgage and 30 odd credit cards, they should be scored lower for over commitment, somebody who manges their credit well and is not any of the latter should be given a fair chance, I personally get knocked back for anything and everything because they say I have applied for too much in a short space of time, so what? I am allowed to try and get a better deal, I do not have any adverse credit but hey what the hell, give it to all the folk who are in over their heads and can't afford a loaf of bread!

LongTermLurker

PROLIANT wrote: »

No, sub prime, ergo people who refuse/cant pay back debt, they are high risk, the family with a hefty mortgage and 30 odd credit cards, they should be scored lower for over commitment, somebody who manges their credit well and is not any of the latter should be given a fair chance, I personally get knocked back for anything and everything because they say I have applied for too much in a short space of time, so what? I am allowed to try and get a better deal, I do not have any adverse credit but hey what the hell, give it to all the folk who are in over their heads and can't afford a loaf of bread!

Ah, now I follow you. Agreed :beer:

gaahmad

Worked OK for me on FF3. Couple of cosmetic issues:

1. When you click the "Email This" button, the popup that opens, it has a horizontal scrollbar, when one isn't really required, the page should be made a little wider so that it doesn't appear.

2. Same issue as above when the "Print This" button is clicked.

Swans1912

Worked fine for me.... however I'm 20 years old so what age range should i use?

Less than 20 (but I'm 20 years old and so many days)
21 - 25 (but I'm not 21 yet!)

Its given me an average credit score.

- £24,240 Salary
- 20 Years of Age
- 95K Mortgage (Joint with Partner)
- Car Loan (0%, with GMAC £198*10 Months left)
- Barclaycard OnePulse (£4500 Limit, £350 Balance, Paid in Full Monthly, 8 Months Old)
- AMEX Cash-back Plat (£2500 Limit, Zero Balance, Paid in Full Monthly, 6 Months Old)
- SkyCard (£2500 Limit, Zero Balance, Paid in Full Monthly, 1 Month Old)
- Abbey Current Account, Joint with Partner (£200 Overdraft Never Used)
- Used to have an Egg Card and Halifax card which I used the 0% for.
- Never missed a payment on anything.

Average rating fair?

msmicawber

It worked fine for me (Firefox 3.0 & Windows XP SP2), but I was surprised that there were no questions concerning my income or whether I owned any property that could be used as security. I feel sure that my low income and the fact that I'm a tenant do contribute to my not having a particularly high credit score in real life, although the calculator indicated that I had an excellent score because I manage my meagre finances well.

NewbieMoneySaver**

fantastic.

Thanks

James

Tried worked well, with on exception which makes you a SAFER RISK.

Q Do you use your Credit Report's Notice of Correction Faciltiy to Deter Identinty Theft. Re the www.freeidprotection.co.uk system?


I'd asks you to look at this and determine if lending to someone who uses this system safer than it is to others who don't?

If your answser is YES, it should enhance your score as you've reduced the risk to all involved.

MRS_TO_BE_2

Good tool. Worked fine and gave expected result.