credit scoring

Phil_GT

I already knew that it charges you, as im using it until, i've got my mortgage sorted and a house bought.

I have cancel'd it in the past only took me 2 minutes...

Phil_GT

Experians Answer

Thank you for your email, which we received on 29 January 2009.

I am unable to provide the specific details of how many points would be lost for
missed payments or how many points could be gained for paying off your balance
in full as the scoring system we use is an automatic process. Your Experian
Score is meant as a guideline only. We calculate your score based only on
information held on your credit report. When lenders work out their credit
scores, they will also use information that you provide when you apply and may
also use information about anyone you that are financially linked to.

Your Experian Credit Score is unlikely to be the same as the score that a lender
calculates. Scoring can vary from company to company and they may use different
scoring for different products.

You do not have one single credit score because different companies use
different credit scoring systems. You might be refused by one company but
accepted by another, based on exactly the same information. As well as looking
at your past credit record and how much money you have spare each month, lenders
often have in mind a type of customer that they are looking for. So having a
good credit record can never guarantee that all your credit applications will be
successful.

I would advise that paying off your balances in full each month and ensuring you
have no late payments will both have a positive effect on your credit rating.

If you have any further queries, please get back in touch and I will be happy to
help.

Kind regards

Miss Alexa MacIntyre
Consumer Service Administrator
CreditExpert