Natwest gave me a credit card...

never-in-doubt

Ritchie74 wrote: »

Agreed! Your balance at cycle day is shown at the bureaus, not balance after payment is made. Will show the balance as per your statement.
And credit score is not random BTW!!!
I have 12 years experience in credit risk at 3 different banks and beleive me they all work in much the same way (however credit products do differ somewhat)

Ive already proved to you on the thread that experian scores are random! trot along and have a little read, there's a good boy........ Here: #17

Regards to the payment, ok great being a clever cloggs but think again!

Statement date - 25th
Balance due date - 17th
Reporting date 2nd

I get an online statement on 25th and when the email comes I log into online banking and send full payment, on the 25th.

By the time they come to report my account trust me - it shows £0 balance. My citi card has shown £0 balances from day one - I got asked by HSBC (in letter) if it was a dormant account as it suggests no usage!

Ritchie74 wrote: »

Dormancy is defined as no spend, refunds, interest or payments in last x months (in my experience usually 12 months).
If a customer is spending and making full payment each month they are certainly classed as active. However they are not classed as profitable. This will not effect credit score as credit score has to be based on risk and not profitability. Lenders may not cross sell other products or raise limits due to this however, as you are costing the bank to have your CC but not making it money.
I have never paid interest on any CC and have excellent credit score and never been refused a financial product.

Dormancy is defined as no activity! Nothing in the definition of dormancy regards to refunds or interest or payments.... what dictionary are you reading?

The customer may be classed as 'active' I never implied they wouldn't be - I actually stated that to new lenders it could be contrued that the account is dormant as my above example clearly illustrates and I doubt i'm the only person on here that pays in full when they get an email alert.

Its just the way I am and my credit file has always shown balance as £0 and previous balance as £0 and cash withdrawals as £0 - never shows anything other than the actual limit itself.

Ritchie74

Listen I am not trying to be a 'clever clogs' I am trying to make people aware of facts. Clearly you think you know better so will leave you to spread rubbish.
I won't bother posting here again as you think you know better than someone who works in the industry and who has performed lots of analysis on real data.
You keep burying your head in the sand and tell people lies.
Was only trying to help but forget it.
Ok so clearing balance every month is dormant and bad, paying interst is good and credit scores ate rubbish. How very very naive.
People dot listen to this guy. Read up on facts and manage your accounts well.
Goodbye from someone who tried to clear things up

never-in-doubt

Ritchie74 wrote: »

Listen I am not trying to be a 'clever clogs' I am trying to make people aware of facts. Clearly you think you know better so will leave you to spread rubbish.
I won't bother posting here again as you think you know better than someone who works in the industry and who has performed lots of analysis on real data.
You keep burying your head in the sand and tell people lies.
Was only trying to help but forget it.
Ok so clearing balance every month is dormant and bad, paying interst is good and credit scores ate rubbish. How very very naive.
People dot listen to this guy. Read up on facts and manage your accounts well.
Goodbye from someone who tried to clear things up

Mate I asked you on the other thread to prove it - I posted proof that contradicts everything you have said! #17

Why haven't you proved that you're right and the BBC and Experian themselves are wrong....... maybe you're misunderstanding the relevance, but for a fact - the score provided by the CRA means nothing to any lending decision. If you can get me proof please do - it will help me in my personal case to sue the CRA..... it cannot and will not be admitted because it would close them down!

The data supplied by the cra is relevant - not that score they use. The lender does their own scorecards... everyone knows this!

Ritchie74

Just to show you this person knows nothing he/she thinks a dormant account can still be classed as active. Erm complete opposites. Haha I was wasting my time here.
I have been involved in bureau reporting and built strategies using CRA credit score at THREE uk banks. But no, I know nothing haha.
See ya

never-in-doubt

Ritchie74 wrote: »

Just to show you this person knows nothing he/she thinks a dormant account can still be classed as active. Erm complete opposites. Haha I was wasting my time here.
I have been involved in bureau reporting and built strategies using CRA credit score at THREE uk banks. But no, I know nothing haha.
See ya

Really, did I say that? Here you go - to quote:

never-in-doubt wrote: »

The customer may be classed as 'active' I never implied they wouldn't be - I actually stated that to new lenders it could be contrued that the account is dormant as my above example clearly illustrates and I doubt i'm the only person on here that pays in full when they get an email alert..

I think you're not reading what i've actually typed. I stated that HSBC thought my citi card was dormant and asked me. I said no it was not why did they think that, they replied that it is reporting a £0 balance from outset and if it was not being used to close it down. I confirmed I used it to the point they could see the amount leaving my account every month.

See what I am saying? That came from HSBC not me.

As a new poster, with no credentials why should we listen to anything you say? Obviously you're way off the mark cos I think you'll find i'm actually very very clued up with regards to credit agencies - after all, i've been fighting all 3 of them for the last 2 years and currently suing Call Credit.....

I know most rules and regs, yea - damn right I do cos I want to use anything against them and if they are making credit decisions on behalf of lenders they are breaking the ruddy law - accept it.

never-in-doubt

http://www.experian.co.uk/www/pages/why_experian/client_newsletter/20070705evision.html

Using e-consumerview v.8, businesses will be able to receive more contextual information on prospective customers from searches of Experian's databases in order to make better credit risk decisions.

That to me clearly suggests that businesses make decisions - not experian!

Moggles_2

never-in-doubt wrote: »

I get an online statement on 25th and when the email comes I log into online banking and send full payment, on the 25th. By the time they come to report my account trust me - it shows £0 balance.

Not if you've been shopping with your card - as most of us do - since sending your payment.

I have never paid interest charges on any cc and, in more than 10 years of credit card shuffling with over 50 cards (not all at once of course), my credit worthiness has suffered no ill effects from paying off my balances in full. I've not had an application turned down .. yet anyway.

I check my credit reports frequently, none (including Citi and HSBC) have ever shown my balance as zero, in the circumstances you describe.

Presumably, to achieve this, you would have to stop using the card following payment - something which most of us wouldn't wish to do. The interest-free period on purchases is, after all, part of the cards' attraction.

Ritchie74

There we go then. You are someone who cannot use finance correctly (hence trying to sue) so why on earth are you trying to educate others ?
Really can't be bothered. Live in your dream world and good luck with suing.
Just cos you don't like something doesn't mean it isn't real

never-in-doubt

Ritchie74 wrote: »

There we go then. You are someone who cannot use finance correctly (hence trying to sue) so why on earth are you trying to educate others ?
Really can't be bothered. Live in your dream world and good luck with suing.
Just cos you don't like something doesn't mean it isn't real

stop the silly pettiness and stick to the main question. I stated that the score given by experian to us, the consumer, means little in the real credit world. My post is here: #16

At no point have I mentioned anything about raw data and what they provide to the lenders - I simply said that the score they produce means nothing - that remains a fact.

All you've done is mis-read what I typed and got on your high horse bragging about earning peanuts - trust me, i'm not in any debt.

I am suing because of an incorrect link - I am in no debt. Assumptions are the mother of all f@ck-ups!

never-in-doubt

aron wrote: »

......And your credential would be what exactly? Being a know all or in being condescending & patronising? You could also add to that the credential in never being able to accept that you don't know as much as you make out & in persistantly shouting down and belittling anyone who questions your so called knowledge.

In short - your an !!!!!hole.

LOL, hi bushtea / allthingsconsidered2009 / mouthyone or whatever you're calling yourself now. How's it going? Still a nuisance I see....?

By the way, its actually sir @rshole to you