Experian credit score 995 not out/Virgin credit card 0

papaver

I have just been refused a blackhorse loan - even though my credit rating with Exprian is 999!

Blackhorse said they used this report to check my credit rating - and yet I failed.

Is this because of MBNA (I crazily applied for their card over a year ago) but I never used it, I read about them and ditched the thing.

So I now have this on my credit search which is a bummer.

B Horse also said in the letter that they check with fraud prevention agencies, is this normal - as this has got me really worried why do they do that.

I have lived at this address for 20 years, got NO court judgements or whatever they are called, missed a couple of payments to a club last year, owing to the fact that my husband of 25 years left me - and life was difficult at that moment in time not financially (no excuse I know) - but nothing else.

Have I really messed it all up by this refusal on my record.

I wanted the loan to get some work done on the house.

Lesley

izools

The score means nothing. Read this thread so far and don't buy another one again! It's more use as a lottery number generator...

When you are turned down for credit the rejection is NOT recorded on your file, just the fact you applied.

All creditors check with fraud prevention agencies - CIFAS and N Hunter.

They are set up to detect discrepencies between this and previous credit applications, and to alert creditors to previous fraud, either by you or someone else on your behalf.

Normal checks, nothing to worry about.

Does this "Club" actually appear on your credit file? I bet it doesn't.

Your bank would probably be the first port of call for a loan as you have a relationship with them already.

lisyloo

So I now have this on my credit search which is a bummer

If you never used it, it will show no late payments.
Why do you think this is such a negative.
It probably isn't a negative.

missed a couple of payments to a club last year

This will go against you.

Have I really messed it all up by this refusal on my record.

There is no refusal shown on your record, only a check.
Loads of checks in a short period of time are bad, but one makes no odds.

I wanted the loan to get some work done on the house.

Is it essential?
I would advise saving up if possible.
Do you need it all at once.
Could you get it done in stages whilst you save.
You'll at least see some progress that way.

papaver

Thanks for the reply...not sure why I did not go to my own bank, I also have my mortgage with them, and my current account is in funds, I have not gone overdrawn with them.

I am not applying for any more loans.

I am wanting to get the house ready to sell I may be putting it on the market this Spring.

I am waiting to see what happens to interest rates - and how fast they start to go up.

Lesley

storeton

I actually got
£15000 loan from A&L
£15000 loan from Coop
£9000 card from Barclaycard
fun this credit score game
storeton

izools

You didn't go ahead with the loans did you!?

Still, good job on the Barclaycard, they're not known for handing out large limits like that either! You must have a good income and good income : debt ratio

FYI - Barclaycard search Equifax and the others you applied to search Experian so the other footprints won't have affected Barclaycard's decision

hello4645

well done.................

hate-banks

izools wrote: »

When you are turned down for credit the rejection is NOT recorded on your file, just the fact you applied.

Are you sure about this?? Cause everywhere it says that applying to credit and being refused damage your credit score! I can't imagine just the fact to apply to damage a credit score....

MoneyWasting_Expert

hate-banks wrote: »

Are you sure about this?? Cause everywhere it says that applying to credit and being refused damage your credit score! I can't imagine just the fact to apply to damage a credit score....

Damages your chance of getting credit for the next 6 months. No record ss added, to whether you were successfull or not, but its still simple to find out if you were. If you apply for MBNA and MBNA do not register an account on file then you dont have the product you applied for.

izools

MoneyWasting_Expert wrote: »

Damages your chance of getting credit for the next 6 months. No record ss added, to whether you were successfull or not, but its still simple to find out if you were. If you apply for MBNA and MBNA do not register an account on file then you dont have the product you applied for.

Nop, it isn't that simple I'm afraid, for the following reasons:

• Creditors can't see who performed the search - only the type of search (i.e. "Credit Card") - only we see the name of the company (i.e. "MBNA")
• Creditors can't see the names of the companies you hold accounts with - only the type of account. Only we see the name of the bank / creditor
• Some credit searched accounts aren't reported to your credit file, e.g. EON. Some aren't reported to all three credit reference agencies e.g. Virgin Media / Mobile
• There is a 30-90 day delay, in extreme cases even more, before the account appears on your credit file

Ergo, no creditor makes the assumption you alluded to.

There quite literally is no way third party creditors can know the outcome of prior applications.