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

Blue_Bay

My Husband has been in the UK for over 3 years now and weare looking into getting a mortgage. His credit file shows as FAIR as: He hasno credit cards/loans/ mortgage, has a mobile contract 3months which is paid infull, he is not on the voters roll as he is not a British citizen and has 3searches within the past 3 months. What can we do to improve his score? Shouldwe try a high interest credit card to be paid in full or would getting hiscitizenship and added to the voters roll help much? Thanks in advance for any help.

sfax

You don't need to be a uk citizen to be on the electoral roll. You only need to be a uk citizen to vote in parliamentary elections

Affordability is key for for mortgage applications. Waste of time trying to improve your rating unless you know for sure it will get you declined - eg defaults etc

Blue_Bay

sfax wrote: »

You don't need to be a uk citizen to be on the electoral roll. You only need to be a uk citizen to vote in parliamentary elections

Affordability is key for for mortgage applications. Waste of time trying to improve your rating unless you know for sure it will get you declined - eg defaults etc

Thanks Sfax, but I have tried to add him on the elec roll but been told by them I can not add him. Any suggestions?

sfax

He has to be EU so I assume he isn't if you've been categorically told no

If you have everything else in place (all 3 credit reports are accurate) and can't get him on the roll, just apply for a mortgage anyway. Worst case scenario is a reject and that will only show as a search on his report (the outcome isn't recorded although could be inferred)

Fwakes

Hi there


I’m seeking some advice as to whether I have been falsely refused a mobile phone contract or not.


We got all the way to the end of imputing the data and then on a final check said that it would require me to put down a £350 deposit (it was only supposed to be £50).



I was shocked. I have never been refused credit before on anything. I have a well looked after current account, only 1 store card that has never had a late payment and has always been paid off in full and I religiously keep up the payments on my car of which I am into the second year of a three year finance plan. The only thing I can possibly think is that the sales assistant didn’t input correct information regarding my address. I have only been at my current address for 9 months and he put 3 years as he told me that this information didn’t matter and if we put in 9 months he would then have to input further information regarding a previous address.



This has got me a little worried in regards to my credit score as he did this twice and I’m worried that due to no fault of my own that I can see, I'm worried I have now ended up in the spiral



I would be really grateful of any advice or if anyone has been in a similar situation what they did.



Thank you everyone for taking the time to read this!

sfax

Fwakes wrote: »

Hi there


I’m seeking some advice as to whether I have been falsely refused a mobile phone contract or not.


We got all the way to the end of imputing the data and then on a final check said that it would require me to put down a £350 deposit (it was only supposed to be £50).



I was shocked. I have never been refused credit before on anything. I have a well looked after current account, only 1 store card that has never had a late payment and has always been paid off in full and I religiously keep up the payments on my car of which I am into the second year of a three year finance plan. The only thing I can possibly think is that the sales assistant didn’t input correct information regarding my address. I have only been at my current address for 9 months and he put 3 years as he told me that this information didn’t matter and if we put in 9 months he would then have to input further information regarding a previous address.



This has got me a little worried in regards to my credit score as he did this twice and I’m worried that due to no fault of my own that I can see, I'm worried I have now ended up in the spiral



I would be really grateful of any advice or if anyone has been in a similar situation what they did.



Thank you everyone for taking the time to read this!

Get your credit report from all 3 CRAs (£2 from Experian and Equifax and free from Noddle) and check it for inaccuracies first

kilby_007

When I checked my credit score a couple of weeks back it was "good" (with experian). This month the "time lived at current address" went up to 3 years which improved my score to excellent (around 940) and then I closed an unused bank account with Santander and it went up to 999!

sfax

kilby_007 wrote: »

When I checked my credit score a couple of weeks back it was "good" (with experian). This month the "time lived at current address" went up to 3 years which improved my score to excellent (around 940) and then I closed an unused bank account with Santander and it went up to 999!

The credit scores you paid Experian for have no bearing on your credit rating and are not seen by any lenders; but if you like watching the magic number go up and down, keep buying them

kilby_007

sfax wrote: »

The credit scores you paid Experian for have no bearing on your credit rating and are not seen by any lenders; but if you like watching the magic number go up and down, keep buying them

It was free for a month. I like The Magic Numbers!

antonio1

Can anyone offer insight on this: I cancelled a magazine subscription contract (and the direct debit) but there's a dispute about whether any monies are owed, which turns on whether it was cancelled in the free trial period. Is it automatically the case that this will end up on a credit report as an unpaid debt without warning? I appreciate things like notice of correction etc.

I've not received any written demand for payment from the company or any collection agency, yet. It may well be on their internal files as a bad debt but they can't be bothered demanding payment.

Do companies have to warn you before they notify what they consider a bad debt to credit reference agencies is my key question? If not presumably the first time you know of it is when you have a credit issue....That said I don't know how long it normally takes from (alleged) default to something appearing on the credit report.

Many thanks.