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

butterfly72

I've just signed up to the CreditExpert free trial, which currently has £2 cash back with Quidco (and entry to a quidco draw) until 29 Sept 09.

On the electrol roll part, it gives the details of the flats I live in, but not actually my flat number or my name. Is this a problem??

thanks.

hershman

I have just received my credit file from Callcredit (I have applied to the others as well) and was surprised to find that Confused.com had registered in the credit search history part of the file. I was looking for a car insurance quote earlier this month and went on the site and I do not remember them telling me that they would credit check me - I have a poor rating and I am trying to improve it and make sure that I dont have credit checks done as it affects my rating. I have been back to the site and cant find anything about how one's search for car insurance will be put on such an important document - if I applied for a credit card I could understand it but for to just compare quotes why is it done? Can I get it taken off my record, can I complain about it to someone? I will never use comparison sites again - in the end I used my broker to get car insurance so I did not even need to get the quotes from confused.com. Why is there no big warning when you enter details on this site and does it affect my rating?

Moggles_2

heloid wrote: »

Question regarding Electoral Roll registration. I'm enrolled at my current address (now 6 months) and this is showing up fine with Experian and Equifax. However due the numerous ways of entering it my previous address (6 months living there also) it is not showing up as enrolled with the CRAs even though I was. Does my previous address matter? Will my chances improve by getting them to correct this?

Did you take out any credit facilities during that period?

If not, and provided your electoral status is correctly recorded at the address prior to that one (ie. up until 12 months ago), it's of less significance now.

Moggles_2

butterfly72 wrote: »

I've just signed up to the CreditExpert free trial. On the electoral roll part, it gives the details of the flats I live in, but not actually my flat number or my name. Is this a problem?

When it comes to proving your identity to potential lenders, variations in the format of your address are a common source of problems, particularly where blocks of flats are involved.

The agencies collate info' from 3 main sources 1) public records 2) you 3) their clients, the lenders. Obviously, this data is only as accurate as its sources.

When you apply for credit cards, bank accounts or to the CRAs, ensure your address matches your details as they appear on the electoral register (you can check this at your nearest public library) and you should be fine.

Moggles_2

hershman wrote: »

I have just received my credit file from Callcredit and was surprised to find that Confused.com had registered in the credit search history part of the file. I was looking for a car insurance quote earlier this month and went on the site and I do not remember them telling me that they would credit check me. I have been back to the site and can't find anything about how one's search for car insurance will be put on such an important document. Can I get it taken off my record? Can I complain about it to someone? Why is there no big warning when you enter details on this site and does it affect my rating?

No, these quotation searches are not classed as credit checks. They're there for your information only and will not be seen by lenders. Rest assured, they have no effect on your credit rating

heloid

Moggles wrote: »

Did you take out any credit facilities during that period?

If not, and provided your electoral status is correctly recorded at the address prior to that one (ie. up until 12 months ago), it's of less significance now.

Prior to my first address I was living in NZ (credit file I assume was empty before that).
The only things I took out at my last address was a mobile phone contract and got some bank accounts (I have 1 HSBC and 2 A&L accounts now), no credit.
At my current address which I'm enrolled at I have since gotten small overdrafts and an HSBC credit card (£2000, not bad, just wish I could have BTfered to it ).
I assume my last address (Nov08-Apr09) is still worth correcting as it's still the last 12 months?
Probably will hold off applying for credit for another 6 months (then try for a Santander Zero because I travel a bit).

Moggles_2

heloid wrote: »

Prior to my first address I was living in NZ. The only things I took out at my last address was a mobile phone contract and got some bank accounts (I have 1 HSBC and 2 A&L accounts now), no credit. At my current address which I'm enrolled at, I have since gotten small overdrafts and an HSBC credit card. I assume my last address (Nov08-Apr09) is still worth correcting as it's still the last 12 months?

You've only 12 months credit history in the UK then?
That being the case, it would be well worth changing the format of this address to the version which appears on the electoral register

archersluck

Hi
I was just thinking about my credit rating as I've just moved house and was checked when setting up the phone or internet or something. That was fine but it got me thinking - Last year I missed a payment on a store card as I never got the statement. I rang up and they reversed the missed payment charge as it was the first time I'd done that. I had had to pay the interest which was fine.

I'm a student and have moved for the 3rd time in 3 years and have applied for all my credit in the last couple of years so I know I'm probably not a massive catch when it comes to credit so dont want to make it worse!

Is it worth using a free trial to check my credit?

Thanks

Mibbly_Pibblies

The main thing as you probably know is to keep up with repayments. Missed payments have quite an effect on your rating. Blame the credit crunch!

Moggles_2

archersluck wrote: »

I've just moved house and was [credit] checked when setting up the phone. That got me thinking. Last year I missed a payment on a store card. I rang up and they reversed the missed payment charge as it was the first time. I'm a student and have moved for the 3rd time in 3 years and have applied for all my credit in the last couple of years, so I know I'm probably not a massive catch when it comes to credit, so don't want to make it worse! Is it worth using a free trial to check my credit?

Absolutely. For links and tips, see page 1 of the *How to obtain credit reports* sticky
Once you know what lenders see, you are in a better position to improve their opinion