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

adindas

THis the problem when people need to pay to see their data.
They make mistake, you need to pay to correct the data thay have made.
Why, because you could only find thay make mistake if you ask for stautory report which will cost yo £2.00.

I the US it is free.

ADINDAS

magiciansgirl wrote: »

I've just gone through my Equifax with a fine toothcomb and discovered two completely incorrect 'I month in arrears' markers from 2007. I've been able to prove I made the payments on time so they will be corrected. It's a fiddle going over old bank statements etc but worth it. Good luck!

Kind regards, MG

dgrego123

i have 8 prev searches in last 12 months.
3 coming in the past 6 months
would this severly effect my credit score in the long run?
or just at the moment while im showing a significant amount of searches in the previous 6 months. one of the searches for credit was vanquis who have given me a cc card which i have used in full and payed of in full for three months and one of the searches was a identity search from halifax and one from churchill,but they where both longer than six months.
thankyou for any help.

BugsyBrowne

dgrego123 wrote: »

i have 8 prev searches in last 12 months.
3 coming in the past 6 months
would this severly effect my credit score in the long run?
or just at the moment while im showing a significant amount of searches in the previous 6 months. one of the searches for credit was vanquis who have given me a cc card which i have used in full and payed of in full for three months and one of the searches was a identity search from halifax and one from churchill,but they where both longer than six months.
thankyou for any help.

Credit searches unfortunately are probably the biggest killer in assessing credit applications.

8 in the last year is way to many for anybody TBH,wait until you have no searches in 6 months that would look better.

adindas

Dear LeandaMay

I have similar experience with you, my application for Halifax Clarity Rewards Credit Card was rejected last Month. Guess what It was rejected. One of the criteria that they were using is CRA.
Halifax CRA is Experian, I believe ??

I appeal sending them the following info:
I have CC with HSBC with max limit £5,000, MBNA limit 3100, Lloyds TSB £1,500, Barclays £3,000.
I got offer for mortgage; I have a permanent job/ respectful profession with very decent salary.
I just hear today MY APPEAL HAS BEEN SUCCESSFUL.

The problem here with CRA they put our data without our knowledge and if they make mistake we did not know that and we will pay for the mistake that they have made.
I have read a lot of people in this forum from various thread complain about the inaccuracy of their data.
The problem is that we do not have access to the data about us. When we want to know we need to pay £2.00. Yes £2.00 is small but it will mean that you support that organisation who sells your data, they make mistake and you need to pay for their mistake.
I have not had access to my data but I suspect that how long I have been staying in my current address is wrong, as I have been got difference info form my bank when I open my a/c.
Probably their personal who are working there need to be more professional ....and accurate.
The fact there has been a lot of inaccuracy has been reported in this forum. In the US we do not need to pay to see our own data which have been stored. Here, In the UK it should not be the same. CRA could give people online access so there should nit be any cost for postage, print, etc).
Hope this is something to be considered of CRA.

ADINDAS

LeandaMay wrote: »

I've checked my credit rating and my score is 'Good' (960). However when I went to the bank to discuss a consolidation loan I was rejected, I don't understand?!

daisylilymum

I was turned down for a Vodafone mobile phone contract today. They advised me to check my credit rating with Experien, which I did, and it came out at 999 - excellent. When I phoned them, I was told the credit dept don't speak to the public & that I would have to appeal??? I can't understand why I'd be turned down. Can anyone help please?

BugsyBrowne

daisylilymum wrote: »

I was turned down for a Vodafone mobile phone contract today. They advised me to check my credit rating with Experien, which I did, and it came out at 999 - excellent. When I phoned them, I was told the credit dept don't speak to the public & that I would have to appeal??? I can't understand why I'd be turned down. Can anyone help please?

Daisylilymum almost everyone have a credit score of 999 but experian are not the ones trusting you with a mobile phone contract.

Have you ever had credit.

daisylilymum

Yes! I have a mortgage, have had cards, phone contracts etc. I've never defaulted?

BugsyBrowne

daisylilymum wrote: »

Yes! I have a mortgage, have had cards, phone contracts etc. I've never defaulted?

Have had that will probably be the reason,mortgage wont come into it,they want to see good credit agreement history.

daisylilymum

I have a credit card now. I have a brilliant credit history. I've even had a contract with Vodafone before, which was all paid. I've never been turned down for anything. I don't understand it.

BugsyBrowne

daisylilymum wrote: »

I have a credit card now. I have a brilliant credit history. I've even had a contract with Vodafone before, which was all paid. I've never been turned down for anything. I don't understand it.

So you have been through your credit report,your on the elec role,no missed payments,no late payments,are your financially linked to anyone.