Credit rating query (electoral roll)

ampafc

Hi,

I was recently declined for a Credit card, so went to check my credit rating with equifax. After purchasing my credit score, I found my rating was very low. I recently bought my first house (June 09) so should be on the electoral roll there.

So i contacted my local authority who confirmed that i was on electoral roll at my new address, so i then phoned Equifax to ask them to update this. How long should it take them to do this, given that they just have to contact my local authority who will confirm details?

Also, when they update my credit report/rating, will my credit score likely go up a fair bit upon recognition that i am on electoral roll? Do you have any idea about how many 'points' this will increase a credit score by?

I'm 24, home owner, full time job more than £20k per year.

YorkshireBoy

ampafc wrote: »

should be on the electoral roll there.

How did you register? If by completing the form that came in August/September then the CRAs won't be updated until sometime after 1st December as the register is compiled around this time each year. See your local council's website (electoral services section) for further details.

BTW, Equifax is not the only CRA. You might want to also check Experian (and CallCredit).

And finally, stop wasting your money on worthless/meaningless scores from the CRAs.

izools

Typically if your credit rating on Equifax is "Very Poor" then registering on the electoral roll will bring it into "Poor".

Who did you purchase your score from? Experian and CallCredit seem to be useless, Equifax in my opinion set out some good advice when you purchase a score from them.

What did it say was marking you down / marking you up?

richessex

Not quite true

Although Local Authorities have their main updates in December each year Electoral registers are now updated on a monthly basis.

So a month maximum before the CRAs are advised or can obtain the information.

izools

Except at this time of year because of the pre-chirstmas stuff.

I recieved confirmation from my local council that they will be registering me and that was over a month ago - it won't show until Dec or Jan because of the time of year

ampafc

izools wrote: »

Typically if your credit rating on Equifax is "Very Poor" then registering on the electoral roll will bring it into "Poor".

Who did you purchase your score from? Experian and CallCredit seem to be useless, Equifax in my opinion set out some good advice when you purchase a score from them.

What did it say was marking you down / marking you up?

My report summary says:

Credit agreement: satisfactory
Searches: Satisfactory
Court information: Satisfactory
Electoral roll: Danger

It Says I am not presently registered on electoral roll so I am 'very poor' in this category

izools

Hmm OK.

The other two things that can affect your score and present you as a higher risk that Equifax don't tell you about are:

> Having opened an account in the last 12 months (I.e. you have one or more "new" accounts). Creditors like to see about a year or more of dealing with any credit obligations to ensure you can keep up the payments etc.

> Having a low percentage of your credit limits actually available to spend (I.e. being "Maxed Out")

Do you think either of these two points might be true in your case?

YorkshireBoy

richessex wrote: »

Although Local Authorities have their main updates in December each year Electoral registers are now updated on a monthly basis.

Between December and August, yes. Between September and November, no.

So a month maximum before the CRAs are advised or can obtain the information.

The information on my Council's website (Electoral Services section) says maximum 6 weeks.

But happy to be proved wrong. Do you have a link from a reliable source to back up your assertion?

richessex

Yorkshire Boy wasn't have a dig mate

Just as mentioned in another post re linked addresses
i was at my local ER office this morning and asked the question
below is taken from the website for mine (Havering) im not that good with links

Think we are both sort of right

Q: When should I register?
A: Register Now! Every autumn Electoral Services staff deliver a registration form to households in the London Borough of Havering. Although no one is obliged to vote the law does require that this registration form is returned. Failure to do so may result in a fine of up to £1,000. A Register will be published on 1st December. You can now also register as soon as you move into the London Borough Of Havering. All you have to do is telephone the electoral services team and ask for a registration form. Every month lists will be published showing the names that have been added, deleted or amended since the publication of the December Register.

YorkshireBoy

From your Council's website...

There is no monthly update during September, October or November during the annual canvass period when all households have to register. A new Register is published on 1 December.

http://www.havering.gov.uk/index.aspx?articleid=621

richessex

Hands up you win :-)

may be the reason why my details have not been updated then.

Mind you i registered in July