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

marcellep

Quick question:

I only have a default on my files dating back to 12/05/05 (shows as satisfied)

I do have a current account and other credit which is managed well

Would any mobile phone provider give me a contract?

Moggles_2

underthematress wrote: »

The bills in the flat are in both our names but come out of my flatmates account. Should I have some coming out of my account? I heard that it is not having the bills in your name that improves your score but the direct debits.

Unless credit facilities are involved (eg. mobile phone), your payment histories with utilities are not normally reported to the credit reference agencies, provided that you are not in arrears.

In other words, utilities neither help nor harm your credit history, if you always pay up on time.

Note: British Gas have begun to report new customer accounts to the CRAs in the last couple of months. Whether other providers follow suit, remains to be seen.

Moggles_2

underthematress wrote: »

I requested a free credit check from Experian, I think it was, and they replied saying they needed proof of residence. Is this a bad sign?

You will need to tackle the reason(s) sooner or later, certainly.
Are you eligible to enrol on the electoral register?

CannyJock

underthematress wrote: »

1)Is this condidered a default? Can someone clarify if my credit rating is affected for 6 years for having done this.

2) why didn't he use his own address or whay has his parents not wanted him using theirs?

3)The bills in the flat are in both our names but come out of my flatmates account. Should I have some coming out of my account?

A while ago I requested a free credit check from experian, i think it was, and they replied saying they needed proof of residence, is this a bad sign?

1) Do as Moggles suggested and keep paying in full by DD to tidy up your report - but the fact that you've since been successful with a credit card for £4400 limit suggests it's not had any major effect.

2) Because his parents would be booting him up and down the street if debt collectors called at their house? It shouldn't affect you, but I'd still be pretty unhappy if someone used my address in this way. Sooner you're out of there the better from what you're saying.

3) Makes no difference which accounts it comes from so long as they get paid. As Moggles said they don't appear on your credit report.

Proof of residence isn't a bad sign - they want you to confirm that you are living there before they send the details. Because you live in a shared house this is a sensible precaution - it prevents muppets like your flatmate's brother applying for information that doesn't belong to them.

parristim

Was anyone else appalled at last night's 'One Show' urging us to "pay Equiflex to get your credit score, it's really useful to have"?

In how many ways can advice be so wrong??!

marcellep

parristim wrote: »

Was anyone else appalled at last night's 'One Show' urging us to "pay Equiflex to get your credit score, it's really useful to have"?

In how many ways can advice be so wrong??!

Could not agree with you anymore!

But if you just do what others have done and ignore it and don't write about it on MSE, hopefully people will not follow the bad advice

chrisandclaire

Hi everyone,

my boyfriend has recently applied for a credit card and was declined. He checked his credit score and it came back that because he's been on the electoral roll for fewer than 2 years (we've lived at our property for just over 2 years), he has a 'poor' credit score. All other aspects were 'good'. The strange thing is I applied for a credit card in my name in April (albeit from a different card provider) and was accepted. My name has been on the electoral roll for the same length of time as his.

We are concerned about the situation, as we are moving house this month, so I imagine that our electoral roll records will again start from zero? And therefore we will be back to square one in terms of applying for credit. He hasn't yet applied for any other cards, as I've read that you should 'spread out applications'.

Is there anything we can do to improve his rating, or someone we can appeal to? Surely people move house a few times when they are at the beginning of their careers and are 'moving up the ladder', or don't they ever get credit?!

Thanks (and sorry if this has already been covered, there are too many posts to read!)
CC

siankylie2009

hi guys. new to all this forum stuff. just wanted some advise really. i am going to see a mortgage manager at hsbc tommorrowe to apply for a mortgage. but before hand i decided to check my credit score. my partners score is 999 and mine is 789. begginning to panic now. as i dont want to be rejected. have paid off all debt from credit cards now but they are not showing on there yet becasue it hasnt been update so its still showing debt. also, they have got me down as not being on the electrol role which i always hav been. have got a letter fro mthe council showing this now so i think i should take that along with me. what you think i should do any advise. do u think the application would go through ok on these scores? we have put an offer in on the house which has been accepeted. any advise greatly appreciated.

sian

Moggles_2

chrisandclaire wrote: »

My boyfriend has recently applied for a credit card and was declined ... We are concerned about the situation, as we are moving house this month, so I imagine that our electoral roll records will again start from zero and therefore we will be back to square one in terms of applying for credit. He hasn't yet applied for any other cards, as I've read that you should 'spread out applications'. Is there anything we can do to improve his rating or someone we can appeal to? Surely people move house a few times when they are at the beginning of their careers and are 'moving up the ladder' or don't they ever get credit?

Yes, many honest individuals are obliged to move frequently, through no fault of their own. Unfortunately, fraudsters move around a lot too (or so we're told). It's one of the ways they attempt to avoid detection.

Basically, lenders like stability, so best practice is to apply for credit facilities, where possible, before you move/change jobs/change banks. Being with the same employer, bank and current address for a while, all help when applying for credit.

To help you further, we would need to know which credit card he applied for unsuccessfully and how long ago. Also, which cards he has at the mo or has held recently.

chrisandclaire

Thanks for your reply. He currently doesn't have a credit card, in fact he's never held one, although he's a cardholder on my Amex. He applied for a Tesco Clubcard credit card about a month ago.
CC