Credit Rating: How it works and How to improve it discussion area

jamsa

But surely each network, orange, voda, 3, o2 etc all use the same places for credit checks? if so then I would be on a third check within 6 months and then losing score ratings?
what type are they looking for ..ones that default?

never-in-doubt

jamsa wrote: »

But surely each network, orange, voda, 3, o2 etc all use the same places for credit checks? if so then I would be on a third check within 6 months and then losing score ratings?
what type are they looking for ..ones that default?

No each company record searches and have different acceptance criteria.... you're right in that you'll have 3 searches but don't worry too much about it - utility searches don't get held against you like credit searches do.

Have a read here to learn about scoring: http://www.moneysavingexpert.com/loans/credit-rating-credit-score

ravh84

hi

i know each company's criteria varies, but i have done an experian credit check and i came with a score of 822, does anybody know is this reasonable, bad, good ??

thankyou

NickX

ravh84 wrote: »

i know each company's criteria varies, but i have done an experian credit check and i came with a score of 822, does anybody know is this reasonable, bad, good ??

These scores are a waste of money and meaningless because as you appear to be aware, each lender has its own criteria for acceptance.

IMO you would be far better spending the money on a drink in the pub than a meaningless random number.

never-in-doubt

NickX wrote: »

IMO you would be far better spending the money on a drink in the pub than a meaningless random number.

LOL - now why doesn't that surprise me matey? :rotfl: :rotfl:

In fact, can you even get a pint in London for a fiver nowadays? :eek:

jonnythurston

Hey all.

I am wanting to get a santader zero card for some foreign spending. I now have a nationwide cc, which i got only a few months ago.
I have a santder current account which i though would help me get a cc in the future.

My question is how much does having a full time job affect your credit file?

I am employed full time until April this year, but will need this CC at the latest in November time. Will I be able to get one without a f/t job? Or should I apply in april whilst I am working. I am worried because i have applied for a CC, and 2 bank accounts within the last 6 months, so obviously that is on my credit file and I thought I would be better if i can wait a few more months.

On a side note santander gave me an (unwanted) £250 overdraft on the current account. Is it better if I remove this, and have less overall credit available to me, or keep it as it shows santander i can handle their credit?

I am a novice with all of this so any help is greatly appreciated.

emmalhf

Hello, new to this so i dont know if I should start a new thread or not!

I have an account with experian and I check my credit score regularly. This evening I ordered my new credit score to find (Since the start of February) my score has dropped from 909 to 755. This is lower than it was a year ago when I wasn't on the electoral register. I dont have any outstanding debts or missed payments, and nothing on my account has changed in the past month. Does anyone know why this might be? I have also contacted their customer services department, but im not sure if they will actually be able to help me!


Thank you!!

never-in-doubt

Those scores mean nothing - forget them! Each lender scores you on their criteria - the CRA versions are a mile out and a waste of money!

Nurseyjo_2

Can anyone help. My daughter has lived in rented accommodation for less than a year. She has just tried to get a new mobile phone contract and has been refused due to her credit rating. We have looked at her experian file and found nothing of note that would affect this. Could it be other information relating to her address that would have caused the refusal and if so, how can we find this out?

Moggles_2

Nurseyjo wrote: »

Can anyone help. My daughter has lived in rented accommodation for less than a year. She has just tried to get a new mobile phone contract and has been refused due to her credit rating. We have looked at her experian file and found nothing of note that would affect this. Could it be other information relating to her address that would have caused the refusal and if so, how can we find this out?

No, credit ratings assess people, not dwellings. The move would have temporarily disrupted her credit rating, unfortunately.

What credit facilities are currently held in her name?