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

DCFC79

wales786 wrote: »

I had an accident at work that left me disabled. My car was repossessed and my cards closed. I have an agreement with these companies to pay back a small amount each month, which I have not defaulted on ( as I pay by direct debit). How may I correct my credit rating that says I defaulted on these payments?..

Are the defaults correct ? Sounds like they are.

You defaulted by paying a small amount.

Your credit rating is of no use as lenders dont see it, its your history that matters.

Doclinz

I created an Experian Account to view my credit score. I had to enter my credit card details, but they said no payment would be taken. I glanced through my credit score to establish the cause of my poor score,
I immediately wanted to cancel the Experian Account - you need to call them and eventually when you're through it's a long tedious process.
They said I couldn't delete my credit card for TWO YEARS! Do I have rights to delete this account? I am very uncomfortable with them having my credit card on file.

DCFC79

Doclinz wrote: »

I created an Experian Account to view my credit score. I had to enter my credit card details, but they said no payment would be taken. I glanced through my credit score to establish the cause of my poor score,
I immediately wanted to cancel the Experian Account - you need to call them and eventually when you're through it's a long tedious process.
They said I couldn't delete my credit card for TWO YEARS! Do I have rights to delete this account? I am very uncomfortable with them having my credit card on file.

No idea what you did but I've not had a problem cancelling my subscription to experian. Did you ask to cancel your subscription ?

Eg you signed up for the free 30 days free trial and you call up a day later to cancel.

Your poor credit score is neither here nor there as per my previous post.

Willem-de-Blois

I've just received my first credit report from Experian. I had no idea what I'd find because over the past decade, most of my time has been a student or an under/ unemployed worker.

I am very surprised that my score is 919/999, a GOOD rating which is apparently 42 points shy of EXCELLENT.

The one negative attribute is "You have no settled non-mail order credit accounts."

I am assuming that neither of my credit cards has a balance of £0. If this assumption is credit then one of my two cards now has a balance of £5 in credit.

Is there any way to 'force' an update to my credit rating to take into account that I do now indeed have a settled credit account?

Once updated, do you think this will get me the 42 points to get the EXCELLENT status?

DCFC79

Willem-de-Blois wrote: »

I've just received my first credit report from Experian. I had no idea what I'd find because over the past decade, most of my time has been a student or an under/ unemployed worker.

I am very surprised that my score is 919/999, a GOOD rating which is apparently 42 points shy of EXCELLENT.

The one negative attribute is "You have no settled non-mail order credit accounts."

I am assuming that neither of my credit cards has a balance of £0. If this assumption is credit then one of my two cards now has a balance of £5 in credit.

Is there any way to 'force' an update to my credit rating to take into account that I do now indeed have a settled credit account?

Once updated, do you think this will get me the 42 points to get the EXCELLENT status?

I despair.

Read my previous post on here and the 1 before that and then come back and tell me if the credit score of 919 is useful.

hwflyer7

Hi should we close Debit Cards as well? or does Debit Card not count?

[Deleted User]

Why do you want to close your Debit cards? Have you no money left in the bank?

hwflyer7

Hi,

My recent Current Account application was rejected due to "credit search" but I have no idea why was it rejected. Probably due to too many bank accounts have been open in the past few months?

How long is it going to affect my credit score in this case? Will I be rejected for a mortgage application in 6 months time? Thanks in advance!

hwflyer7

hey just wondering if keeping too many debit cards will affect credit scoring?

[Deleted User]

Multiple bank accounts shouldn't be an issue, unless they all have mammoth overdrafts attached to them.

Check your files to ensure the data held is correct.

Do NOT pay for or check your score.