Experian credit rating for store cards - Settled?

adamzetec

I was rejected for a credit card yesterday which worried me as I will be applying for a mortgage in the coming months. I therefore ordered my experian credit rating and cannot see anything adverse on it so I suspect I don't meet Tesco's requirements.

I notice my credit score fell into the top end of the "fair" category so I set about cancelling cards I no longer use.

There were a couple of store cards I took out to save 10% and never used again. These all show up as "settled" as they haven't been used for 3+ years. I tried to call one of these and asked for my card to be cancelled but they couldn't find my details. I therefore assume that as it's settled, this credit no longer exists but still shows on my file for 6 years? If so, it would make my life a lot easier

TFD_2

You don't want a fair credit rating to apply for a mortgage.

You don't just need nothing adverse, you need positive stuff too.

Did they break down your "credit rating" and highlight what your weak points are?

Moggles_2

A settled account is one which you have made all the necessary payments to and which has been closed down, so no further action is necessary.

Provided that your payment history was good, these settled accounts contribute positively to your credit history