Devastated by Experian credit score! (:

love_the_messenger

My Experian credit score is..............9 (out of a possible score of 1000)

I don't even have adverse credit (no missed payments, no CCJs or defaults) and I am on the Electoral.

Is this going to make it impossible to get approved for anything? I had been hoping to get a mortgage:rolleyes:

Andy_Ches

love_the_messenger wrote: »

My Experian credit score is..............9 (out of a possible score of 1000)

I don't even have adverse credit (no missed payments, no CCJs or defaults) and I am on the Electoral.

Is this going to make it impossible to get approved for anything? I had been hoping to get a mortgage:rolleyes:

9? I didn't think it could go so low....

When you get your score on Credit Expert it comes up on like a speed gauge type thing with your rating. If you go to the next page it will let you choose answers to a series of questions and give you an estimated score based on the answers. (So that you can see what your score may be like if X happened....)

I altered the answers to the worst possible scenario for all and the arrow went deep into the red zone and came out at 172 / 1000.

love_the_messenger

Andy_Ches wrote: »

9? I didn't think it could go so low....

When you get your score on Credit Expert it comes up on like a speed gauge type thing with your rating. If you go to the next page it will let you choose answers to a series of questions and give you an estimated score based on the answers. (So that you can see what your score may be like if X happened....)

I altered the answers to the worst possible scenario for all and the arrow went deep into the red zone and came out at 172 / 1000.

oh my God. I've only been in the UK for 7 months and my credit file is only 7 months old. 7 months ago, when I had no UK credit accounts at all and was not on the Electoral Roll, my Experian score was 270. Now it has gone right down to 9. I did ring Experian up to ensure there wasn't a mistake and they confirmed that my scores is indeed 9.

Possible reasons: I have 17 searches in the past 6 months and a total of 17 credit accounts (including mobile contract, current accounts, catalogues, credit cards etc).

In time will my score naturally improve presuming I continue paying everything on time and not incurring any more searches?

I also don't understand why so far I've had no trouble at all getting credit from mainstream lenders. You'd think they'd be appalled by a credit score of 9.

I_know_my_ABC_and_my_CMYK

Having so many searches on your file will make it look as if you are desperate for credit and will go against you if you are trying to take out a loan etc. Leave a month or so if you can between searches.

Andy_Ches

love_the_messenger wrote: »

oh my God. I've only been in the UK for 7 months and my credit file is only 7 months old. 7 months ago, when I had no UK credit accounts at all and was not on the Electoral Roll, my Experian score was 270. Now it has gone right down to 9. I did ring Experian up to ensure there wasn't a mistake and they confirmed that my scores is indeed 9.

Possible reasons: I have 17 searches in the past 6 months and a total of 17 credit accounts (including mobile contract, current accounts, catalogues, credit cards etc).

In time will my score naturally improve presuming I continue paying everything on time and not incurring any more searches?

I also don't understand why so far I've had no trouble at all getting credit from mainstream lenders. You'd think they'd be appalled by a credit score of 9.

That seems strange, as an example, my credit score is 970 / 1000, I have 7 recorded searches over past year and 39 credit accounts, albiet 33 are closed.

I think no more than 2 credit searches in any 6 month period wouldn't have an adverse effect and yes, keeping payments fully up to date, not maxing out all your available credit and being on the electoral roll would definatley improve your score.

Although 9 / 1000 still doesn't sound right.

Andy_Ches

I've just logged onto Experian and did the following scenario...

How likely are you to pay off your full outstanding credit card balances each month? VERY UNLIKELY

How likely are you to be three or more months behind with any of your credit account payments? VERY LIKELY

Roughly how much money will you owe (excluding mortgages)?
£50K +

How likely is it that you will have any county court judgements or be declared bankrupt? VERY LIKELY

Roughly how many credit accounts (e.g. credit cards, loans, mortgages) are you likely to apply for? 8

...and the score came out as 177 / 1000.

Voyager2002

Don't worry. Lenders do not use these credit scores, but have their own way of interpreting the information given in your file.

And yes, if there have been 17 searches in the recent past you are unlikely to be offered any more credit right now, but things should improve rapidly so long as you keep paying regularly, and so long as there are no more applications for the next few minutes!

I do suggest that if you apply for a mortgage in the very near future you should mention this to your adviser (perhaps bring along a print-out of your file).

Robert_Sterling_3

If 17 lenders have turned you down I would join their club and turn you down too.

love_the_messenger

Robert_Sterling wrote: »

If 17 lenders have turned you down I would join their club and turn you down too.

Where did I say that 17 lenders turned me down??

love_the_messenger

Andy_Ches wrote: »

I've just logged onto Experian and did the following scenario...

How likely are you to pay off your full outstanding credit card balances each month? VERY UNLIKELY

How likely are you to be three or more months behind with any of your credit account payments? VERY LIKELY

Roughly how much money will you owe (excluding mortgages)?
£50K +

How likely is it that you will have any county court judgements or be declared bankrupt? VERY LIKELY

Roughly how many credit accounts (e.g. credit cards, loans, mortgages) are you likely to apply for? 8

...and the score came out as 177 / 1000.

I think the biggest negative factor may be the shortness of my credit history (only 7 months old).

exel1966

love_the_messenger wrote: »

My Experian credit score is..............9 (out of a possible score of 1000)

I don't even have adverse credit (no missed payments, no CCJs or defaults) and I am on the Electoral.

Is this going to make it impossible to get approved for anything? I had been hoping to get a mortgage:rolleyes:

Pure Fiction !