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

Bowski_1011

Worked fine for me :0)

Paul_Herring

NickX wrote: »

Unfortunately, I suspect that if all the factors that the Card Companies take into account were used, then the forumla would become far to complicated.

Considering that the different card companies use different formulae (indeed the same company may use different formulae for different cards depending on who they're marketing to) this tool can only be a guide.

NickX

Paul_Herring wrote: »

Considering that the different card companies use different formulae (indeed the same company may use different formulae for different cards depending on who they're marketing to) this tool can only be a guide.

I agree, but I think that if some element of the overall liquidity of the customer were taken into account, this may help.

In my own case, it suggested that I may struggle to get a mainstream card - infact I have never had a rejection.

haggisAThome

works well , a good idea .

nice work :T

PetuliaGristle

Easy to use, worked fine and gave expected result

brody77

Yup, I'm average.
However, it should really say Nobody will EVER give you credit!
But that's just me.

jamesd

MSE_Dan wrote: »

We particularly like how it lets you play about with different answers to typical questions asked and see how this affects your credit score.

It's a horribly inconvenient tool for that because you can't see your answers or change just one variable without having to go back and answer all ten questions again.

For this purpose, I'd recommend and prefer myself one of the other tools elsewhere that makes it far more convenient to do what-if planning.

Very unfriendly user interface design for this purpose.

MSE_Dan wrote: »

We've just built a tool to help people estimate their credit score, using data from Experian.

It should be explicit that it doesn't ask any credit reference agency for information, so using it won't affect your credit score.

It may also be worth mentioning that it only looks at accounts that are reported to credit reference agencies. Older bank accounts and credit cards often aren't and the lack can have positive (invisible debt) or negative (can't see good past history to pass lending criteria) effects on credit scores.

Former_MSE_Dan

Hi jamesd

Thanks for the feedback. The checker is going to be part of a big article so that will all be explained once we are past this testing stage

Dan

Broke_Student

I think you should make it clear if student loans come under loans. I have always been informed that although they are a debt, they have no effect on your credit rating (and possibly do not even appear).

As others have already mentioned, it would be great if you could update the different options in real time and see how your credit rating changes with changes in the variables. This would be useful for financial planning i.e. you can maybe estimate when your credit rating will become 'good' before applying for another credit card etc..

dhassen

I think it's a good tool and a few people are being way too picky!
I find it hilarious reading a couple of the replies here ( I hope they're joking) that are along the lines off 'It didn't work for me (what, the tool?) because I was refused xx credit card'

The thing isn't a guarantee! It's clearly just an idea of how u rate...... as MSEDan says it will be, if it's included in an article that explains what the thing is, and explains that other factors come into play (such as income and the amount you have outstanding), then it'll be great.

You try and design somthing to be fool-proof, and it never ever will be, there is always someone more foolish than you reckoned on, so laymens terms explanations are normally a good idea.

By the way has anyone managed to get 'excellent' ....... I couldn't get it to do it. Mine is good, which is probably right.

EDIT: And as a few people have already said, Question 4's last option should be '3 or more' shouldn't it? Rather than 'More than 3'