Credit Reference and scoring discussion area

beastoid_2

I got a credit score of 352 which is better than i expected as i have had a lot of money troubles in the past, i am now debt free i am happy to say and have been for the last three years ( sound like a recovering alcoholic ).

I would just like to know how i can improve my credit score quicker to take advantage of all the offers available on the site, i dread changing phone companies mobile or home, applying for credit cards or change utility suppliers in case i get knocked back and it affects my credit score.

I had to take out a mortgage with gmac 3 years ago to pay off all my debts that i had accumulated but they hammered me and i currently pay £470 a month on a £55,000 loan which seems to be a lot but i am tied into it until september unless i choose to pay £2500 early redemption penalties.

Any advice would be much appreciated,

Thank you

Sofia_4

Martin has provided this information in his article about using Zopa:

What does the score mean?
The number your are given roughly equates to how good a risk Equifax considers you to be based on its data. If you get a score above 400 this puts you in the top half of the population, over 470 and you're in the top 30%. See Equifax's explanation of what the score means. (Of course Zopa doesn't go into the same detail, as it's giving you the score as part of the borrowing process rather than for its own sake).

Gonzo1966

I paid for my 2nd credit score with Equifax in January 2005 and noticed that there are items listed that are seven years old, should they still be appearing. The reason for asking is I had a Barclycard way back when and missed a couple of payments, they are listed as arrears, will this affect my credit score if I wanted to borrow any monies as this item does currently appear on my credit file??

cdownton

Hi
I got my credit reference files from Experian and Equifax. They were ok, apart from when I lived with my parents, some of my father's entries were on my account. Also I am associated with my mother for an account (presumably when I was a kid).
There's no actual account details, only it says that if a lender wants to, they can search my associates files. I'm considering telling them that I'm not associated with them (purely because i'm not - i presume that have a good credit file). Does anyone have any advice?

jcorbygas

I have just checked my Equifax file which is good,(score 468)and just checked my Experian, and under recent searches it shows 18 searches made with the wrong spelling of my name.
Would this put off other lenders do you think as if they counted the number of searches including incorrect ones there would be a lot.
Also, I wasnt aware that if you apply for a motor insurance quote with Admiral your credit files are searched - presumably for monthly payment.

kingroy

Our daughter has a debt of £5000 she has left home 2 years ago, but the debt people keep sending letters to me and my Wife, we are both pensioners. I have contacted Experian credit reference people and had me and wife’s and my credit file Amended to state that our daughter has been dissociated financially from us and she been removed from the Census form.

I have contacted the credit firms that keep sending letters for my daughter, to say she has moved away two years ago, We have no further contact with her, I am worried that this could still affect me & my Wife’s credit score and speaking to one Agent yesterday he said the debt could still register on the property, what does this mean and is legal.

Thks Roy

Gonzo1966

I cannot seem to obtain my credit file from Experian, I have been entering my details for approx 3 weeks now and once I have entered my details it redirects to another page saying 'service temporary unavailable.

Am I doing something wrong??

Cheers all

ANB_2

Wow! This is my first time visiting this site - I have scanned all 15 pages and cannot find this question or related responses:

I am a homeowner with a small mortgage. I am considering paying off entirely this mortgage. Will my credit rating be affected as a result?
I heard a rumour that you should always retain a mortgage no matter how small.

Having read Martin’s article on Credit Rating – Is it the fact that I am a homeowner that matters – not whether I have a £0.00 or £100,00.00 mortgage?

sh4un

Hi all..I have never had any credit problems,problms with never paying debts and have always paid debts off before they are due.Since i got married last August i have been rejected credit 3 times .Twice for a new pc and once for double glazing.My Wife does have a bad credit history but i assumed it would not effect my credit. I have two credit histories from Equifax and Experian and neither one shows a problem.Have I got myself into a situation where until my wifes credit goes up.I will have problems getting credit.We have resolved my wifes debts (2 ccj's) but it takes 6 years to come off her file. Any help would be grately appreciated

Sofia_4

I'm not an expert or anything, but from what I've found so far, your credit history will be linked to a member of your family who lives at the same address, so you will probably find that your wife's history will affect you. Check that her score/history is up to date. Unfortunately, getting knocked back for credit will also affect it, so you may have to go to lenders who specialise in people that have bad credit. They are more expensive, but if you keep up payments with them, you will be going some way towards restoring your history.
Good luck