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

caelshorn

Well I just tried to make a start on reviewing my credit files and have wasted a good couple of hours.

After repeatedly trying to access Noodle, I got a call from my credit card provider's fraud team telling me they have blocked my card due to suspicious activity (i.e. Noodle's 10p test payment).

Then I tried Experian. I tried their trial three years ago, and now they want to charge me £14.99 just to look at an updated report. Is there any way around this?

I assume I will have the same problem with Equifax.

So much for checking my credit score on a regular basis...

Edit: good lord, Equifax is even worse. After letting me click on the £2 statutory report button, making me enter my cc details and jump through hoops to get into my old account, I now no longer have the option of a statutory report. I hope I didn't just pay £2 for nothing, grr!

sfax

caelshorn wrote: »

Well I just tried to make a start on reviewing my credit files and have wasted a good couple of hours.

After repeatedly trying to access Noodle, I got a call from my credit card provider's fraud team telling me they have blocked my card due to suspicious activity (i.e. Noodle's 10p test payment).

Then I tried Experian. I tried their trial three years ago, and now they want to charge me £14.99 just to look at an updated report. Is there any way around this?

I assume I will have the same problem with Equifax.

So much for checking my credit score on a regular basis...

Google "2 experian" and "2 equifax" to get your statutory reports. No need to subscribe to either to get a full report

rb10

caelshorn wrote: »

After repeatedly trying to access Noodle, I got a call from my credit card provider's fraud team telling me they have blocked my card due to suspicious activity (i.e. Noodle's 10p test payment).

It won't be the one 10p test payment - it'll be the fact that you tried repeatedly.

If it didn't work first time, it probably won't the second. Lots of attempted 10p transactions certainly looks suspicious.

Have you got another CC that you can register with?

RisingDamp

sfax wrote: »

I assume you were rejected for the said Mastercard and that's why you've taken an interest in your score? Your score is meaningless as it's not seen by lenders. The information in your 3 credit reports is what's important.

Get all 3 statutory reports (£2 each for Experian and Equifax, CallCredit is free from Noddle) and check them for accuracy. Find out who the Mastercard provider searched, All your credit agreements including your recently settled agreements should be accurate. A mortgage settled last year and not showing as such suggests this isn't the case

No, no definite referral on that one - but no definite acceptance either (decision in the post), but last year I'd applied for a store card and been refused, so I decided this time, when not immediately accepted and being puzzled by this, to try to look into it. So I signed up for the free 30 day trial with Experian, and this is the information on my report. There are no references at all to previous store cards (all paid up), I don't currently hold any store cards, I hold a credit card (again, no reference to this) which is always settled on time ... and no reference to the mortgage. Now, as I understand it, lenders don't always log these things, and both my credit card and my mortgage were taken out a long time ago, which may be why they don't figure.

I'm hoping that my message to Experian might throw some more light on this. I don't know how far I want to go into this (i.e. checking other credit reports) - it will probably depend on what Experian say by way of a reply. Frankly, I'm not desperate for other cards and hope I'll never have to borrow on credit again (though, of course, one never knows!) It just irks me that I seem to be facing a silly situation of being asked to prove a negative and that there will be others out there who, like me, have always been a perfectly good risk, have always paid their debts on time, and yet are somehow being branded as risky for no reason.

RisingDamp

I should add, for the sake of clarity, that the mortgage isn't showing at all, neither is the credit card.

RisingDamp

Just found this Daily Wail article (very recent) which confirms that others are also being hit in this way:

http://www.thisismoney.co.uk/money/cardsloans/article-2328576/What-happened-Money-Mail-reports-checked-credit-report.html

Thrugelmir

RisingDamp wrote: »

Frankly, I'm not desperate for other cards and hope I'll never have to borrow on credit again (though, of course, one never knows!) It just irks me that I seem to be facing a silly situation of being asked to prove a negative and that there will be others out there who, like me, have always been a perfectly good risk, have always paid their debts on time, and yet are somehow being branded as risky for no reason.

Then why do require another card. Lenders have no need of providing credit facilities that aren't going to be used.

sfax

RisingDamp wrote: »

No, no definite referral on that one - but no definite acceptance either (decision in the post), but last year I'd applied for a store card and been refused, so I decided this time, when not immediately accepted and being puzzled by this, to try to look into it. So I signed up for the free 30 day trial with Experian, and this is the information on my report. There are no references at all to previous store cards (all paid up), I don't currently hold any store cards, I hold a credit card (again, no reference to this) which is always settled on time ... and no reference to the mortgage. Now, as I understand it, lenders don't always log these things, and both my credit card and my mortgage were taken out a long time ago, which may be why they don't figure.

I'm hoping that my message to Experian might throw some more light on this. I don't know how far I want to go into this (i.e. checking other credit reports) - it will probably depend on what Experian say by way of a reply. Frankly, I'm not desperate for other cards and hope I'll never have to borrow on credit again (though, of course, one never knows!) It just irks me that I seem to be facing a silly situation of being asked to prove a negative and that there will be others out there who, like me, have always been a perfectly good risk, have always paid their debts on time, and yet are somehow being branded as risky for no reason.

All credit agreements like store cards and mortgages should be on all of your reports. Even after you close cards or cancel agreements they will usually remain for up to 6 years.

If you have any old or current store cards (credit cards not loyalty cards) and they aren't on all of your reports, you should contact the CRAs and let them know ASAP

InDeeperThan_I_wanted

Just trying to remortgage and was advised about old unused CC accounts being counted as available credit and working against me. So I rang them and got them closed. I have now been turned down by high st lenders based on my poor credit score.

I saw on Martins program that a good way to rebuild your credit score is to use a credit card and poay it off each month. But of course i've now just cancelled all of them and due to my poor credit rating am unlikely to get another!



:rotfl:

mike2k13

hi mse i have a very good credit rating i use checkmyfile but lenders turn me down for credit cards and loans iam confused why can i not get credit?