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

ChrisIan

Have NO credit report nor credit score. Have been with same bank for 50+ years, pay my credit card in full each month, have paid off my mortgage and have no loans. My wife has dealt with all household issues through her accounts and has a credit scre of 999. Because of her health reasons, we need to transfer financial matters to me. Which activities do I need to start getting a score?

[Deleted User]

Nothing. There are no scores.

Start by finding your credit files via the three CRAs

If they cannot find you, raise a query.

RG2015

ChrisIan wrote: »

Have NO credit report nor credit score. Have been with same bank for 50+ years, pay my credit card in full each month, have paid off my mortgage and have no loans. My wife has dealt with all household issues through her accounts and has a credit scre of 999. Because of her health reasons, we need to transfer financial matters to me. Which activities do I need to start getting a score?

Why do you want a score?

Your credit history is important if you are looking to borrow money or open a credit account such as for a mobile phone. Do either of these apply to you?

RG2015

For information CRA stands for credit reporting agencies. There are three in the UK; Experian, Equifax and Transunion (formerly Callcredit)

Banks and other lenders report your financial data to one or more of these CRAs. They offer paid subscription services to enable you to see your credit report but you can also access these free of charge.

One way is through the following internet sites.

MSE credit club for Experian.
Clearscore for Equifax
Noddle for Transunion

Another way is through the CRAs directly by requesting your statutory credit report from each of them. This also is free of charge.

Dandytf

-37 points since recent car finance, clearscore and noodle both algorithms have spotted my move from what was 2years car finance to 5 years.
I continue to aim for ultimate dmp end time during 2022 or possibly 2021.

[Deleted User]

Don’t worry.

I can donate you 37 of my points if you like?

Or I can have my unicorn poop some out for you.

I don’t need them.

midsx58

I have found various options for 0% credit cards for transfers using the eligibility calc on Martins website. If i apply for the best one with a 95% chance of acceptance but they change the 0% or its period , can I decline without it appearing on my credit report ?

[Deleted User]

No. The search will appear.

But it's not a big deal.

RG2015

midsx58 wrote: »

I have found various options for 0% credit cards for transfers using the eligibility calc on Martins website. If i apply for the best one with a 95% chance of acceptance but they change the 0% or its period , can I decline without it appearing on my credit report ?

I did exactly this a few weeks back with Halifax and was offered a BT card with a BT fee instead of a zero fee BT card. But to get to this point they had already carried out a search on my credit file.

That said I do not see this as a problem as it is only one search. If there were multiple searches it may become an issue.

Candyapple

RG2015 wrote: »

I did exactly this a few weeks back with Halifax and was offered a BT card with a BT fee instead of a zero fee BT card. But to get to this point they had already carried out a search on my credit file.

That said I do not see this as a problem as it is only one search. If there were multiple searches it may become an issue.

Next time go into a branch and ask them what pre-approved credit cards they can offer you instead of wasting a hard search. They'll be able to tell you what your limit will be, APR and any 0% deals/length.