Credit Check Excellent but problems

modelreject

First of all apologies because I didn't know which section would be most relevant for this post.

I will be getting a mortgage and have been worried about my credit. I checked with Experian and have a score of 900 with now marks against my name for overdue payments etc.
The problem lies with a credit check done by O2 whereby I wasn't allowed to get a contract phone because of bad credit. How can this be and should I be worried???

Many thanks,
C

TrickyDicky

It sounds like you missed or were late with some payments on something. These are a bad thing to have against your name, as shown by the refusal of O2 to give you a contract phone.

But ignore the experian score. Its a number cunjured out of thin air and means nothing to most lenders. They score you with their own criteria.

modelreject

I am 100% sure I haven't had any late payments.

How do I get an accurate score? If i can't see my credit profile how do I dispute things like this?

Thanks

Pammy

You can't get an accurate score, there is no such thing. The credit agency give you a score, which I feel is to get money out of you to see it.

All the lenders have their own criteria for scoring you and thats not visible.

You need to look at your credit history, have you made late payment, do you have excessive loans outstanding, have you defaulted, have CCJ's.

Defaults and CCJ's are the biggest issues and take six years to fall away.

modelreject

Zero on all counts. My credit history is scarely squeeky clean, that's why I am so baffled.

Joe_Bloggs

MSE Martin has written an informative credit rating/credit score article. I suspect that you may have to request your credit reports from Equifax and Callcredit to discover a fuller picture. Martin does mention that the information held by them is not comprehensive.
J_B.

Radsteral

as Trickydicky said- they just look to get your money.
3 major credit agencie and the three can give you a diferent score- which tell s it all ''how acurate'' they are!
my experian core wa 977 and to improve it it highlighted it that i needed to be on electoral roll!

abbey didnt take a minute to fail me due to ...guess what... not passing the credit score!

Baffled, as i dont even remember to have missed a payment or been in a dispute with any company,and proud of my 977 score i did show the copy of experian to abbey man... ''sorry sir, we got our own credit score''

May be good to check once a year to see if anything wrong with your overall, but for credit score, dont bother.
Just to add up... i applied again to abej after they failed me, and haliffax rejected me.....and presto, i passed the score.
The reason was that i upped my deposit from 18 percent to 25 percent .!
Like in america, you can do anything here..but it will cost you

Pammy

Are you registered on the electoral register at your address?

Do you have a credit history to show that you can keep to a credit agreement?
As in have you had previous credit all paid on time etc

It sounds very odd. My friend is bankrupt and got a phone with Orange.

herbiesjp

One credit check by O2 will not cause a problem

A mobile opertator will have different scoring criteria to a mortgage company - so you could have been declined for a number of reasons.

Not being on the electoral roll and not having enough credit history can make getting a mortgage just as difficult as having bad credit

Do you have any financial associations to anyone that has bad credit?

Tuscan

i wonder if with some of the mobile contracts now days its the cost of the phone thats the trouble. the I phone etc is about £500 to buy new, so maybe there getting more strict on the scoring.

Conrad

Lower scores result from a cocktail of disperate factors. People are way too simplistic in thier expectations. For example the OP impiles never having had much debt - well there's one of many factors that can lead to a lower score (how can a computer programme 'assess' payment profile when thier is little existing debt repayment history upon which to process).