Credit Score - "Satisfied" Default.. Help..

thedalmeny

Hi,

My credit score is currently around the 720 mark on Experian

I signed up as i wanted to keep better track of my records, heard it was a wise thing to do..

I noticed a Satisfied Default on my records from 2007 for Vodafone.. It was a long time ago, but i remember that i cancelled my contract.. Agreed a 3 part payment plan to clear the remainder of the contract.. On the last payment i had problems, called up and asked if i could move the date for final payment to the end of the month... Vodafone customer service agent agreed..

By end of the month i got a letter from a debt collecting agency.. Paid it.. Rang vodafone and went ape about it, enquired that it better not affect my credit score.. Was told it wouldn't..

Anyway i contacted them about this Satisified Default - and they said the system has changed so some notes have been lost.. But could clearly see i kept in constant contact with them re the remaining.. So they agreed to send a letter off to get the Satified Default removed from my credit report, saying it'll take between 4-6 weeks until it's off. The person i spoke to was excellent, understood the situation and said it shouldn't be a problem.

I'm wondering what affect will this have on my credit score (How much will it go up by) and what benefits i should see.. As i'm new to all this..

- I have £400 on a credit card - always make the min payments
- £1000 overdraft - always kept in check
- Everything is green 0 for the last 36 months (doesnt show records for before that period) on everything on my record, so not one missed payment except one on an orange contract.. Which was Oranges mess up (Cancelled my contract without permission) - should i contact them about this.. It shows as yellow 1 from 8 months ago..

Aside from my credit card and overdraft.. I have no other loans, credit cards or debt.

All my bills etc are always paid on time etc.. I have no other defaults or marks on my credit report except for this Vodafone one..

I'm enquiring as i'd like to move my CC over to a 0% thingy, so hoping in 6 weeks once this default is removed it gives my credit score / ability to apply for credit a major boost.

Thanks in advanced..

Wutang_2

Once its off, you're cool. Don't worry too much (or pay for) your credit score. It doesnt mean anything - most lenders have their own scoring thing and will not take into account Experian, CallCredit or Equifax's own scores.

speaking of which, if you are looking to keep on top of your credit rating - get all 3 reports and make sure them correlate.

preable

Just wait for it to go off then your in the clear

thedalmeny

Great - thanks chaps..

I have a further question regarding searches..

I have 17 records on my previous searches (Although summary says 9) over last 12 months.. Mostly for insurance quotations.. (Was applyin for home contents insurance).. If i list through them.. Will this affect my credit rating to adversely?

- 1x : T-Mobile contract credit check
- 4x : Application Type: Insurance Quotation
- 3x : Application Type: Unrecorded Enquiry (Looks like insurance quotation ones - but just shows unrecorded)
- 1x : Application Type: Identification: Generic check

Others are just "Application Type: Credit Report" for Experian Consumer Services.. I'm guessing for when i've purchased my credit rating from the metc..

Do the insurance quotation ones affect my score.. Or is it only the T-Mobile one which will.

Based on the info i've given ya about my payment history being clean, level of debt and current searchs.. How do you think lenders would see me?

Although i don't wanna post my salary here, i have good earnings also.

paulmcerlean

Only the credit check has an effect.

Quotes and unrecorded enquiries, as well as ID checks play no part.

preable

Yup only the credit check itself is importent.

Quotes and inquiries dont not count