999/1000..but will I get a loan..?

ferry

I've just signed up with Experian online credit report and have been given a credit scoring of 999 out of 1000,which I think is incredible considering I have had(Payplan) payment arrangemants in the past with 2 CC providers and a few late payments here and there(listed as 3's..?)
Anyway how much is the credit score viewed by potential lenders as I hope to be able to make a successful online loan application shortly,but dont want to run the risk of being turned down as I've been meticulous in keeping a perfect record for the past 2 years at least.

Basically,is it safe to assume the Experian credit rating/score is a true reflection that I wont be turned down for credit..?

Cheers for any advice
Terry

Gemmzie

Not necessarily, some providers use Experian and some use the other one ... Equifax.

So it isn't guarenteed.

Possibly try your bank, and check the other credit system - just to make sure

ferry

But dont they both technically hold the same information..?

Astaroth

In theory they do replicate information across each other so ultimately in time each credit reference agency will hold the same details of your history but in reality the near past history will only be on certain agencies.

The actual score you have though is 100% dependant on the lender in question and so the scores that Experian and co give are worth the paper they are written on. Whilst they may give you 999/1000 another company may only give you 500/1000 because they rate other criteria higher (eg ex directory telephone number) because it is the "type" of person their company is interested in even though it may not fit experians view of the perfect credit risk

ferry

Ok,thanks for explaining it...

So my next question is does anyone know of any companies that look favourably on an 999/1000 rating that would be most likely to offer me a small unsecured loan..?

T

Debt_Free_Chick

ferry wrote:

Ok,thanks for explaining it...

So my next question is does anyone know of any companies that look favourably on an 999/1000 rating that would be most likely to offer me a small unsecured loan..?

T

That rating is Experian's - no lender uses it. The lenders all have their own different way of scoring you.

To be honest, you waste your money buying Experian's "score" as it doesn't mean anything.

enjoyincubus

ferry wrote:

Ok,thanks for explaining it...

So my next question is does anyone know of any companies that look favourably on an 999/1000 rating that would be most likely to offer me a small unsecured loan..?

T

Sent you a private message...

Debt_Free_Chick

enjoyincubus wrote:

Sent you a private message...

ooohhhhh - why is it a secret? :rotfl:

Go on, spill the beans please. Others might find it useful.

nomoneytoday

If you have had payplan and late payments within the last 6 years there is no way in a million years your real score is 999/1000.