Good Credit History (at last) - poor score!

gpressler

Hi,

Am looking for a little guidance if at all possible.

I have a good credit history, did have defaults but these have fallen off my report as being over 6 years old.

The one misdemeanor is a 2 payments late reported by Abbey about 11 months ago following an arrangement to pay (fell out with them over the sudden and unexplained withdrawl of my overdraft facility). When I immediately discovered the report I settled and closed the account. I have taken the matter up with them to no avail. Further, they did not close my account until some 3 months post settlement and held it at a former address (changed at around the time of settlement but still was able to collect post from the old address thus received the statements albeit later than I should have - I would have updated the address but thought that it was a closed account - I should have checked more carefully).

I have been at my current address for almost 12 months and have 4 credit cards, almost at limit up to a total of c. £3,000.00. My previous address was occupied for 12 months as was the one before. I am not a homeowner.

All my accounts show no late payments bar the one referred to above.

I am now seeking to increase my overdraft facility and being advised that "Credit Bureau Information" is preventing the increase from being available. My bank uses Experian. I have spoken with them at length over the details within my file seeking to ensure that they are correct. All appears to be relatively in order save some minor historic details that I have today sought to have amended. Experian appear unable to assist as to what the "advisory" in fact is or could be. My score appears to be in the "poor / average" category.

I have also recently applied for a 0% transfer CC hoping that it would be successful given that my report/history is now effectively clear - Virgin turned me down without question.

My intention was also to refinance in light of an impending seperation - I am not going to be making any applications within the near future in light of current feedback. Ps. My soon to be ex-partner's history shows no discrepancies.

I am well and truly lost. I appreciate that credit is a benefit not a right, however, my longer term goal is to get back on the property ladder if at all possible and I am now feeling as though that will never happen, despite my "good behaviour".

Any advice both short and long term would be appreciated.

Thanks in advance,

G.

Ps. Apologies for the length of this post.

brians_daughter

gpressler wrote: »

Hi,

Am looking for a little guidance if at all possible.

I have a good credit history, did have defaults but these have fallen off my report as being over 6 years old.

The one misdemeanor is a 2 payments late reported by Abbey about 11 months ago following an arrangement to pay (fell out with them over the sudden and unexplained withdrawl of my overdraft facility). When I immediately discovered the report I settled and closed the account. I have taken the matter up with them to no avail. Further, they did not close my account until some 3 months post settlement and held it at a former address (changed at around the time of settlement but still was able to collect post from the old address thus received the statements albeit later than I should have - I would have updated the address but thought that it was a closed account - I should have checked more carefully).

I have been at my current address for almost 12 months and have 4 credit cards, almost at limit up to a total of c. £3,000.00. My previous address was occupied for 12 months as was the one before. I am not a homeowner.

All my accounts show no late payments bar the one referred to above.

I am now seeking to increase my overdraft facility and being advised that "Credit Bureau Information" is preventing the increase from being available. My bank uses Experian. I have spoken with them at length over the details within my file seeking to ensure that they are correct. All appears to be relatively in order save some minor historic details that I have today sought to have amended. Experian appear unable to assist as to what the "advisory" in fact is or could be. My score appears to be in the "poor / average" category.

I have also recently applied for a 0% transfer CC hoping that it would be successful given that my report/history is now effectively clear - Virgin turned me down without question.

My intention was also to refinance in light of an impending seperation - I am not going to be making any applications within the near future in light of current feedback. Ps. My soon to be ex-partner's history shows no discrepancies.

I am well and truly lost. I appreciate that credit is a benefit not a right, however, my longer term goal is to get back on the property ladder if at all possible and I am now feeling as though that will never happen, despite my "good behaviour".

Any advice both short and long term would be appreciated.

Thanks in advance,

G.

Ps. Apologies for the length of this post.

When you say 'arrangement to pay' this indicates you didn't/couldn't kep to the original agreements set out in the finance agreement you signed.

What does your credit file say? does it state arrangement to day between x date and x date?

An arangement to pay will impact your credit score for 36 months or 48 months dependant upon the CRA being used, one reports last 36 months data one records 48 months data.

However, saying that if the account is now closed it will stay visable on your file for 72 months (6 years)

So, in effect you dont have a good credit file, infact it would be seen as very poor by lenders ie no 0% cc's as you have just found out. If you are maxed out on the cc's and/or had them less than 12 months this will not go favourably on an application ATM

re mortgage, as long as you have the minimum 10% deposit now required by lenders then you should be ok to get a mortgage - or at least this Arrangement to pay should not hinder it too much, especially as you seem to be talking in the future, not tomorrow ect


http://www.checkmyfile.com/content.asp?display=jargon#arp

gpressler

Cheers for the reply.

I had the overdraft withdrawn upon 1 months notice and could not find the funds to immediately repay. I arranged to pay by instalments and then found that they reported it as 2 payments late (not arangement) despite keeping to the arrangement. I then found the funds to settle it in full upon immediately discovering what they were doing and the effect that it could have upon my score. It still shows as two payments late nonetheless despite my having taken issue with the entry with them.

I am being told that the two payments late reported will unlikely be a major factor upon becoming 12 months old; March of this year. Correct?

brians_daughter

gpressler wrote: »

Cheers for the reply.

I had the overdraft withdrawn upon 1 months notice and could not find the funds to immediately repay. I arranged to pay by instalments and then found that they reported it as 2 payments late (not arangement) despite keeping to the arrangement. I then found the funds to settle it in full upon immediately discovering what they were doing and the effect that it could have upon my score. It still shows as two payments late nonetheless despite my having taken issue with the entry with them.

I am being told that the two payments late reported will unlikely be a major factor upon becoming 12 months old; March of this year. Correct?

Thats correct! As long as the are as late payments then after 12 months they shouldnt have a massive impact..

Do you have access to credit expert? They have a 'lower my bills' section on there, you can look at the cc's and they will use your credit report and info they have from various cc companies and can match your profile to a cc. Theres no credit check left on your file so it doesnt effect your score

Also, barclays cc have a simular thing wherre you can input your data and it leaves soft notes on your file, so again no credit check takes place. it lets you know if you would qualify for one of their cards. they only leave a credit check when you actually apply