Devastated by Experian credit score! (:

Andy_Ches

Robert_Sterling wrote: »

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

If there are 17 searches, with 17 credit accounts held in a 7 month period , all of the applications must have been successful then? :eek:

love_the_messenger

Andy_Ches wrote: »

If there are 17 searches, with 17 credit accounts held in a 7 month period , all of the applications must have been successful then? :eek:

Remember not every lender searches Experian. Of the accounts I've applied for that searched Experian, I've been turned down for about 3 accounts and accepted for 14 or so. I managed to get a substantial limit increase on one of my credit cards despite their being at least 15 previous searches on my Experian file at the time. I got accepted for Aqua (searched Experian) with 14 searches on my file and Vanquis at around the same time and with the same number of searches showing.

Andy_Ches

love_the_messenger wrote: »

Remember not every lender searches Experian. Of the accounts I've applied for that searched Experian, I've been turned down for about 3 accounts and accepted for 14 or so. I managed to get a substantial limit increase on one of my credit cards despite their being at least 15 previous searches on my Experian file at the time. I got accepted for Aqua (searched Experian) with 14 searches on my file and Vanquis at around the same time and with the same number of searches showing.

Sorry yes forgot about the other CRAs! Although it is just a score down to Experian and it is not taken into consideration, you still do have a fair few good credit accounts, just keep them up to date, make sure the account information is correct. Don't apply for anything else for a least 6 months and make sure you continue to be on the electoral roll. I would suggest getting your file from Equifax and Callcredit to see what they hold.

love_the_messenger

Andy_Ches wrote: »

Sorry yes forgot about the other CRAs! Although it is just a score down to Experian and it is not taken into consideration, you still do have a fair few good credit accounts, just keep them up to date, make sure the account information is correct. Don't apply for anything else for a least 6 months and make sure you continue to be on the electoral roll. I would suggest getting your file from Equifax and Callcredit to see what they hold.

The Equifax and Callcredit files look similar to the Experian except I don't know what my credit scores is at those two as I don't want to pay for it. There are less searches on the Callcredit file obviously, becuase nobody searches them!

I guess a year from now or so my score will have gone up?

Andy_Ches

love_the_messenger wrote: »

The Equifax and Callcredit files look similar to the Experian except I don't know what my credit scores is at those two as I don't want to pay for it. There are less searches on the Callcredit file obviously, becuase nobody searches them!

I guess a year from now or so my score will have gone up?

Give it a good 6 months and see how you are then... :j

I_know_my_ABC_and_my_CMYK

Robert_Sterling wrote: »

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

I would actually agree with this. Take it from someone who got into a hell of allot of debt in 2005 due to being nearly killed in a car accident, and nearly faced bankruptcy. If you can manage without taking out a loan or credit card then do it. It's not worth the worry the sleepless nights the harassment from your creditors etc etc. Save up first before you buy . I wish I had. Jobs are far too rocky at the monent to take risks.

I_know_my_ABC_and_my_CMYK

love_the_messenger wrote: »

Remember not every lender searches Experian. Of the accounts I've applied for that searched Experian, I've been turned down for about 3 accounts and accepted for 14 or so. I managed to get a substantial limit increase on one of my credit cards despite their being at least 15 previous searches on my Experian file at the time. I got accepted for Aqua (searched Experian) with 14 searches on my file and Vanquis at around the same time and with the same number of searches showing.

Isn't this the card with the extortionate interest rate if you don't pay the balance off in full at the end of the month?

love_the_messenger

I_know_my_ABC_and_my_CMYK wrote: »

I would actually agree with this. Take it from someone who got into a hell of allot of debt in 2005 due to being nearly killed in a car accident, and nearly faced bankruptcy. If you can manage without taking out a loan or credit card then do it. It's not worth the worry the sleepless nights the harassment from your creditors etc etc. Save up first before you buy . I wish I had. Jobs are far too rocky at the monent to take risks.

Sad as your experience is, I don't see what it has got to do with me.

anotherpaul_2

Appart from the (stupid and near-meaningless) score that no leader sees, is there anything that's wrong with your history?

If you've applied for 17 credit accounts and been accepted on all of them, you're doing pretty well. Unless you need credit and are getting rejected - or there's something incorrect on your history, don't worry about the score and don't give them money for another one.

Lenders obviously consider you a much better risk than experian.

love_the_messenger

anotherpaul wrote: »

Appart from the (stupid and near-meaningless) score that no leader sees, is there anything that's wrong with your history?

No. Other than it being short. I am shown as using 45% of my available credit which I don't think is that bad?

I was turned down for a Grattan catalogue and Natwest Credit Card due to "credit score too low" but around the same time I got accepted for Mainstream products including Lloyds credit card and HSBC bank account with high OD limit.