Credit Scoring

Blakey1982

Hi All

Sorry if this is in the wrong section

Just a quick message to enquire about Equifax credit scoring if anyone knows. I have credit problems around 3 years ago and it dropped my score to Poor on both Equifax and CreditExpert from Experian.

I have monitored these over the last 18 months and my credit scores have gone from:

Equifax – 182 to 396 out of 500

Experian – 393 to 903 out of 1000

I wanted to ask that in todays market how good are those ratings and hwo would companies assess it – because if it falls into the Good rating do they accept you for credit or do they have set scores and criteria to meet????

Just wondering as thinking of applying for a credit card for Christmas and a mortgage next year

Thanks
Paul

serbask

I watched Martin on one of his programs about 6 months ago and he used 3 people with porr credit rating and tried to bump up their scores. It seems that with experian it is posible to get in the very high 900s (e.g. 995-999) - as one of his subjects did. This would suggest that 903 is good but a lot of people will be higher.

When my rating was in the early 900s I managed to get 2 credit cards but the limits on both were quite low. However, if you got one now and repaid it in full for a few months, you could both boost your credit rating and may get a higher limit after 6 months.

Blakey1982

thanks for the advice

my finances are fine now - i just need to chip away at my overdraft but i have a good income at the moment.

Think a 0% credit card would be good for me to pay off overdraft and pay off credit card every month - would this have a bad effect on my score??