Credit Reference and scoring discussion area

sancho_panza_2

hello - I actually just posted a new thread on this before finding this thread - sorry about that!

anyway, my question is: when you register on the electoral roll, is that info automatically and immediately picked up by the credit rating agencies.

For instance, not realising I was not on the register I applied for a balance transfer card some months ago and was rejected (it can be the only reason I think - the rest of my credit history being very good).

I have just been put on the register. However, does that mean if I apply now, the version of my credit file that the credit card company sees will automatically have been updated with this new information? Or is there a risk that they will still see me as not being on the ER for my address? If so, what is the lag between being put on the ER and this being picked up by the CR agencies?

thanks

Oblomov

The councils update the electoral roll at the end of every month, so it is unlikely that the credit referencing agencies will have access to your registration before the end of this month. Unfortunately, there is anecdotal evidence that the CRAs are not quite so reliable and efficient in updating their databases. My advice would be to wait and get a credit report in June before applying again.

sancho_panza_2

yes oblomov, that certainly sounds like sense ....

flash_3

Hi
suggestion please which one helps my credit rating

1 every month i spend £600 on my Debit card
2 spending that amout on credit card and paying off
which one add better rating to my credit rating or both are same

modu

MSE_Martin wrote:

This discussion relates to the following article (click here) which discusses how credit scoring works and how to credit your credit reference files.

HI MSE'S,

I'm in a quandry, please can you advise me as per,

I need an unsecured loan to buy an industrial sewing machine, costing £15k.

3 yeas ago iI relocated to the U.K from the U.S, unfortunately I did not register on the british Electoral roll.

I have lived at my current U.K address for 9 month, more umportantly I am now on the electoral roll.

In the last 19 months,

1. H.P loan £2,500 from G.E Capital Bank Ltd. (SETTLED)

2. Credit Card £1,200 (SETTLED) ( 1 Missed Payment)

3. Credit Card £ 1,400 (Balance £751) ( 1 Missed Payment )

4. Store Card £1000 (Balance £464)

5. Store Card £500 (Balance £136)

I am in full time employment, I have no C.C.J's I earn £29K+ p.a

I am single, 39yr.o, currently in rented accomodation.

Which lender can I approach ?, Will any lend the full £15K,taken into account my credit record ?

If not, how much will they lend ?

Yours faithfully

V.Confused

modu

Can someone please help with my enquiry, I'm not sure if I've sent this query to the right source, as i'm not very computer savvy.

Thx
V. Confused

tmd0119

I applied for a loan, to lump all credit cards into one, and was approved on the first attempt, upon receiving the paper work i noticed the house number was wrong, i called and they changed it, but they had to do another credit check. This time they refused me, they do not know why, i think that its because i had already had a cedit check done for this sum, £15,000, am i right? What should i do now? All replies and suggestions gratefully received!
Tim

ANN_THOMAS_3

we have a mortgage with the woolwich but want to put our reserve up to £15,000 our credit ratingis not that good but has not changed since we took out our mortgage 3 years ago all the bits on our credit file we want to clear with the money we hope we can get ,do you think this will help us get the money to do this?

smartsaver

This is a link to info on credit rating..

http://business.timesonline.co.uk/section/0,,18669,00.html

Hope someone finds it useful

eurows

I found this site has helped me in the past.

http://www.insolvencyhelpline.co.uk/ccj-removal/valid-reasons.htm

Althopugh the link takes you to ccj removal there are plenty more helpful hints