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

[Deleted User]

Ignore the score and ignore the recommendation.

What credit facilities do you have?

stefan1987

Thanks for replying. I have a credit card with a £200 limit and 2 phone contracts

UniqeNewYork

I have a Tesco Credit Card with a £2500 limit that has appeared on previous Experian credit searches (most recent June 2016) but have just run a new report and it has now disappeared and my credit score is decreasing each month and hads gone from excellent to good due to: -

A high credit limit on your revolving account(s) can be viewed positively by lenders. As you no longer have any revolving credit accounts, this has had a negative effect on your Experian Credit Score.

You no longer have any active revolving credit accounts, and as a result your credit utilisation has changed. This has had a negative effect on your Experian Credit Score.

Contacting Tesco/Experian to get it put back oin would seem to make sense but as I moved area in the Summer and was oit of work for 4 months my credit card went from being paid off to close to being maxed out (£2250). I have also just ruined a my no missed payment history by recently missing one.

Would I be better off chasing this and getting credit card added to account or leaving it. I'm about to apply for a first time buyer mortgage and my credit rating is currently 910 but decreasing every month.

Experian_company_representative

Hi UniqeNewYork, although there can be a number of reasons why an account would disappear from a report, one of the most common would be caused by a change of address. You mention that you have moved recently, if you are using the CreditExpert service to view your report you would need to update your current address in your profile. This will ensure that you can see all the information we hold in your name at the new address.
If a lender searches your name at the new address then they would also see this information. If your profile has already been updated and you cant see the account contact us and we can help locate it for you. Kind regards Neil

Anthorn

Experian_company_representative wrote: »

Hi UniqeNewYork, although there can be a number of reasons why an account would disappear from a report, one of the most common would be caused by a change of address. You mention that you have moved recently, if you are using the CreditExpert service to view your report you would need to update your current address in your profile. This will ensure that you can see all the information we hold in your name at the new address.
If a lender searches your name at the new address then they would also see this information. If your profile has already been updated and you cant see the account contact us and we can help locate it for you. Kind regards Neil

Not only do I disagree with this, I vehemently disagree; According to the quoted post if I change my address it will disappear from my credit history until I inform Experian. If that's true, if I have defaults at an address which has disappeared along with those defaulted accounts from my credit history why would I want to tell Experian about it?

The truth is that a change of address is reported or ratified by lenders after they have been informed about a change of address and the old address becomes a linked address.

The one and only event that causes an account to disappear from the main credit history but retained in the linked previous address is when there is a change of address and that account is satisfied or closed and doesn't need to be transferred to the new address.

Lastly it's curious that Experian can't get the facts correct but I'm not really surprised about that!

RichN

Hi all

I recently took advantage of the free Experian credit check, through the mse credit club and was surprised to find that I came as "very poor". This despite having no debts and a clean credit history. Or so I thought!
Of course the free credit check doesn't enable you to drill down and establish exactly where the problem is, so I have just signed for a free 30 day trial with Experian and it appears I do have an outstanding debt after all. It's with talk mobile, who I left about 12 months ago, and it's for £4! Other than that, it's completely clean, as I expected.
Would anyone out there be able to advise on the best course of action. I'm assuming I should contact talk mobile and get the debt paid off, but will that automatically clean up my credit score, or am I stuck with this, for a period of time now?
I don't remember ever being billed for this, and I'm certain they've never chased me for it since and £4 does seem a ridiculously small amount to ruin my score.
Anyway, any advice would be welcome

Thanks in advance

Rich

[Deleted User]

1. Pay it off.
2. Ignore your score.
3. Enjoy Christmas.

frozenturkey

we moved house a year ago. the new owners quickly changed the name of the house as it had caused confusion with neighbouring properties. if i'm applying for credit now, will the 2 properties be linked? if not, which address should I use? in a lot of cases where selecting from a list only the new name shows but of course we have no history with that house name. Nervous to apply for anything in case this causes a problem and effects credit rating. any advice appreciated.

MABLE

According to information from MSE Credit club my Experian this month is 760. May be not the best but has not stopped BC offering me an automatic increase of £2000. I must be doing something right. I know I pay all my bill on time and never leave anything to chance.

sosotalk

I opened a second current account with my bank, which I hope to use to take advantage of some of the current account switching awards that are on offer. How soon can I switch my existing current account without it affecting my credit rating?