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

chompie

Hi, i have just had a search done on my credit record showing as "unclassified" search reason by Access Direct-intelligent Id Ltd.

I have not applied for any credit or anything, does anyone know who this could be?

also what information can a company/person like the above performing an "unclassified" search obtain?

thanks for any help.

gamez-over

Has anyone managed to successfully turn things around with their rating? Currently due to being young and stupid I have managed to go from being 'Excellent' to 'Very Poor' on Experian....and now am trying to turn things around.

I would love to hear from others for some inspiration and motivation

izools

gamez-over wrote: »

Has anyone managed to successfully turn things around with their rating? Currently due to being young and stupid I have managed to go from being 'Excellent' to 'Very Poor' on Experian....and now am trying to turn things around.

I would love to hear from others for some inspiration and motivation

I went from very poor to good on experian creditexpert in the space of a week this year.

Thing is, their scores are a load of codswallop and in real terms my creditworthiness really hasn't changed that much atall.

gamez-over

If that's the case what is the best way to understand the state of my credit score?

Hazzinho

Defaults, ccj, iva or bankrupt is bad. if you are on the electoral roll and your debt is less than 50% annual salary thats fairly good (excluding mortgage). your balance to limit ratio should also be around the mid point. Payday loans will wreck any chance of getting the top offers. Recent moves affect you also so if you move apply BEFORE you move. Basically make regular payents more than the minimum and you'll build a good score.

jachowden

hi, does anyone know, if i use a credit card to improve my credit, roughly how many points would i get for paying on time each month over 6 months and also how many points would being on the electoral roll earn me. my credit rating is currently fair but would like it to be good before i actually apply for credit so i dont get rejected and lose points. help please.

kunid

I'm slightly confused about my credit situation.

Last week I tried to purchase a new pay monthly contact with Orange (24 month, £61 per month), having previously been with o2 for the past 2 year with no late payments. I was declined based upon my credit.

I signed up to Credit Expert to see my credit report, which says I have a score of 978/excellent. To give a quick snapshot of the items on my report:

- 2 credit cards (one of three years old, the other is one year old), both have never had a late payment and have seen the credit limit rise to £6k each
- 2 loans (first 5 years ago, second 3 years ago), both settled within their term with no problems
- I took out a mortgage in Oct 2010 and haven't had any problems with repayment

Credit Expert list the following as 'positive factors' and mention no negative factors:

- Your most recent mortgage account has been running for over 12 months
- The usage of your available credit indicates a lower risk
- The value of your highest credit limit indicates a lower risk



Whilst I was uni and after for the first couple of years of renting I kept my credit cards/loans on my parents address. My mortgage is the only one on the new address (obviously), which has been going for just over a year.

Any ideas why Orange may have turned me down? I'd like to get to the bottom of this, but not sure how to go back to them to get it resolved!

stevedirtycash

orange used to give £1,000 limit but i think they cut it down maybe the £61 quid contract is to much does it come with a new phone?

kunid

stevedirtycash wrote: »

orange used to give £1,000 limit but i think they cut it down maybe the £61 quid contract is to much does it come with a new phone?

Yes, it comes with an iPhone 4S 64Gb for £29.99 up front, followed by £61 per month for 24 months.

brettcta

i have a couple of loans on items at the minute that i have taken out to try and boost my credit score. it's currently sitting at 624/poor.

i have 2 items on an interest-free loan from apple (barclays). the first one is due to be paid off in january and the other has just started up.

the first has been paid on time every month.

would i be worthwhile paying off the 2nd one in full in january or letting it run the 12 month duration? is there even any difference when it comes to a credit agency?