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

Batfink

Over the last year I've been declined for all three of the cashback cards recommended (Amex, Capital One & Egg) which puzzled me as I thought I had a super credit rating.

On looking through my record, I still do thinks its super, but think the number of agreements I've had in the last 6 years is what's causing the problem. I have had....

6x Current Accounts (All but 1 settled)
11x Credit Cards (All but 1 settled)
3x Loans (All settled)
3x Car Finance Agreements (All but 1 settled)
6x Communications Agreements (All settled) &
1x Catalogue Account (Settled)

So it seems, despite having paid every penny back on time, because I've tarted about I'm now seen as a poor risk, as I cannot see any other reason

All4ABargain

Hi

Neither DH nor myself have ever checked our credit reports before, and would like to do so with Experian or some such place (preferably thro' TCB when a generous offer comes up). However we have a problem:
we've been living in our house for almost 7 years, but while the postcode given by Royal Mail is one thing, the postcode on the Electoral Register differs by one letter (eg the last letter in one is 'A' and the other is 'B'). Royal Mail, our bank accounts, mortgage, medical cards, etc etc are all used with the 'A'; the electoral roll says our postcode is 'B' (which Royal Mail's address finder doesn't recognise). We've only applied for one new store credit card once since we moved (a Debenhams card, applied last yr) & DH was refused. The staff member seemed quite surprised, as he was in a good job, and all our payments are up to date for everything. Someone once told us if we were applying for a loan we'd need to use the electoral register postcode and we didn't do this when applying for the card. So my question is this: which postcode do I use when checking my credit file? I've never done this before and don't want to use my "one go" using the wrong postcode!

Thanks for reading this guys, and I hope it makes sense and didn't ask too many daft questions. Any help would really be appreciated

Update: I have tried https://www.moneysupermarket.com/credit-cards/smart-search/?Source=MSE1 for a test search to give me an idea which postcode to use, and they had an address finder facility where you enter the house number and postcode - so I could only put in the Royal Mail postcode as they could not find my house number when I tried the Electoral one. Surprise surprise the results said they couldn't verify my details. How do I go about getting the postcode on the Electoral Roll changed? Can this be done easily?? :eek:

geordie_ben

All4ABargain wrote: »

How do I go about getting the postcode on the Electoral Roll changed? Can this be done easily?? :eek:

From what I've been reading you need to contact your local council.

http://www.aboutmyvote.co.uk/contact.aspx

All4ABargain

geordie_ben wrote: »

From what I've been reading you need to contact your local council.

http://www.aboutmyvote.co.uk/contact.aspx

thanks geordie_ben! rang the local council and they were super helpful and then directed us to the electoral office but said they'd help us out if there was any probs with the electoral office, but they were wonderful too - checked it out, rang us back and changed it right there and then.

geordie_ben

All4ABargain wrote: »

thanks geordie_ben! rang the local council and they were super helpful and then directed us to the electoral office but said they'd help us out if there was any probs with the electoral office, but they were wonderful too - checked it out, rang us back and changed it right there and then.

Brilliant! Glad you managed to get it sorted. Remember to wait a while before you apply for your next card tho

Alejandro

I have just downloaded my wife’s credit file with CreditExpert as we are thinking of buying a house (as first-time buyers) in the next six months or so.


Most of the report looks to be fine. We have no late/missed payments, only one credit card (paid in full each month) and relatively low credit limit, no CCJs etc.



There were a few things on the report that I wasn’t sure about, so hoping for some advice:


1. Her credit score was 813, with the only red mark being that for some reason, it shows us as not on the electoral roll at our current address, even though we are definitely on the roll (we receive council tax bills and have voted while at our current address and we specifically phoned the council when we moved in to make sure we were put on the roll). The specific entry on the report list the local authority and our road (but not house number) and says “No Names listed on Voters Roll”. Is this just something we need to take up with the council? Could it be something to do with the formatting of the address (we live in a flat in a coverted house (e.g. Flat A, 3 Station Road), so there is scope to format that in different ways)?


2. She has three “aliases”, 13 “financial associations” and 17 “linked addresses”. These all seem like quite a lot, and the majority seem to relate to the fact that different banks etc use different formats for addresses. So sometimes our addresses might be given as Flat A, 3 Station Road, or 3A Station Road, or A, 3, Station Road, or whatever. The financial associations are all me in one form or another (but sometimes the shortened version of my first name, sometimes with middle name, middle initial etc etc). The aliases are all my wife’’s maiden name, but again sometimes with middle name etc (and once spelled incorrectly). Do these things matter? If so, is there anything we can do about it now to ‘tidy up’ the credit report?

Thanks in advance…

izools

Ok first off, with regard to the ER, just give Experian a call to explain and they should be able to match it up and merge the ER registration with her current address on her credit file. Either this, or the ER is registered at a different variation of the address that she needs to update with all the companies she holds an account with so that they reflect at the same address.

Linked addresses are fine, there will be one for each company she's held an account with for each time she's updated them with a different address. I have over 100, it doesn't affect my credit worthiness.

Financial Associations must be looked at in more detail - are they definitely her? If any of them aren't it's imperative that she checks her reports with all three credit reference agencies and with each one go through a Notice of Disassociation, otherwise the credit worthiness of the Associate, will affect any credit application she makes.

Again, make sure the Aliases are all her - i.e. variations of her name. If any of them aren't her, dispute them, as her credit file may be saying she masquerades as someone else - when she doesn't.

I think it's important that she gets her credit files from Experian, Equifax, and Call Credit, and treat each file separately scouring for inaccurate data. Each piece of mis information needs to be disputed separately, with each credit reference agency.

I've had to do this before when I was discharged from Bankruptcy, disassociating myself from my then other half, all sorts of inaccurate data, incorrect aliases and associate names that had to go.

It could be a long and gruelling process, but does need to be done if she wants her credit files to be an accurate representation of herself.

Good luck! :beer:

theluniverse

Hi,

I wanted to ask about CCJs, or rather confirm that I have one.

I was over paid by a company I used to work for when I left employment with them. They sent me letters and I tried to call them without success.
They then sent through a court summons and I had to arrange to settle and pay the money back.
Is this a CCJ?

This was in 2005 and it was settled and satisfied that year, which means by August this year it will be removed from my credit file. Is this correct or do I have to do anything to have it removed?

After this has been removed from my credit file will credit companies be able to see it? If they can, do they not take it into account anymore?

Sorry for my ignorance and thanks very much to anyone who can help.

Tixy

Hi

It sounds like you probably have a CCJ - although if you negotiated with your employer after they sent court papers but before it actually went to court then its possible you may not have

Assuming there was a court case and a CCJ then it will go automatically after 6years. And after 6years no new potential lenders will be able to see it was ever there.

wicked-weasel

Hi there,

Really hope someone can assist with my other half's credit problem.

Background:

She registered with graffiti.net about 5 years ago. EVERY year, she was asked if she wanted to renew and confirm credit card details. She would login, check the dertails, tick a box to the usual terms and condits etc and press go. The c/c details were stored in her account. The emails always said if you don't renew, your 'plus' service will lapse. The company was bought by mail.com at some point early last year. Last February we cleared off her Virgin Card (backed by MBNA). As there were no statements ever send and we never used the card, she put it in a drawer at home (Feb 2010). In April 2010, £14.32 was debited by Mail.com with no contact or advisement. As there was no paper statement, this went un-noticed for 3 months until Virgin finally wrote to us to advise the account was going to be defaulted. After various phone calls and letters, we got to the bottom of the matter and advised Virgin what had occurred. They agreed to refund all charges (and did) and look into the matter. Subsequently, they advised we get in touch with Mail.com and get a refund / admission of unauthorised funds withdrawl. We managed after about 10 days of trying to get through to someone who sent over a typed 'refund' request form with wording to this effect on. We filled it out, signed it, faxed it (have confirmation of receipt) and subsequently, we have been unable to get in touch with anyone in the company (they are based in the USA).

Virgin / MBNA will not assist any further unless the refund is done and the company admit to the mistake. If we can get this - they will advise the credit report co's accordingly.

FYI - This card has how been cancelled and her other 2 credit card companies have reduced her credit limit down to nothing or not renewed now (regardless of over 7 years in one case of perfect history). Late 2010 we sold both our houses, paid back the full mortgages on them and are now in a position to get a larger family house.


The Problem:

We have 65% deposit. I have a first rate credit score but can't achieve what we need on my own. We have done everything else to sort out the credit reports from the 3 usual companies. Her's is (for reasons unknown) showing this 3 month non-payment with Equifax and Call Credit only. Experian shows all is well (oddly but not complaining). We have tried to get her a credit card with HSBC (where we have a very good joint standing as premier in both UK and Canada) and she passed all the internal checks with no issues but failed on the credit report. We have a letter from HSBC advising this as the reason for rejection. As they won't even give her a credit card, the odds of a mortgage are, I assume, about zero.

How do we resolve this matter and get her credit score amended. We are currently in rented accomo (under me only) with no way out at the minute for the sake of a poxy £14.32 unauthorised payment!

Any help greatly appreciated.
Many thanks in advance,
Oli