Poor Credit Score, but don't know what to do! ARGH!

sdavies2009

I just checked my credit score as I was turned down for a mobile phone contract today. I have a "Poor" Rating, but in the "Factors which have a negative effect on your score" section, there is nothing there! Apparently there are none! I have 3 positive ones, including electoral roll, 2 or fewer applications for credit and no CCJs...

I had trouble paying debt in the past, but hav been on top of it for sa while (18 months) and have been making payments on time... The only thing I could think I could be was me getting panicked several years ago and applying for every loan possible and getting turned down. I was only really wanting to enquire what the rate of pay back would be and how much, but didn't realise your score was affected each time you applied. I looked on "Linked Address" section and there was about 25 links with all different addresses I've lived at and loan applications I don't even remember as I did them more just out of curiousity!

Could this be the reason for my bad score? If so, is there anyway of rectifying it?!

Sarah

GeorgeUK

There's no real way of rectifying your credit score - it'll just take time.

You can have about 3 credit checks in a 6 month period before your scored score is affected although too many checks close together will make you look desperate for credit and therefore a bad risk. Buying a mobile phone or even ordering a catalogue (not even making an order from the catalogue, just ordering one) will also be classed as a credit check.

After about 2 years, these will have no impact on your credit score and their impact will reduce with the more time that passes. All you can really do is try not to have any more credit checks and then see what happens in about 6 months.

I would check the addresses are correct - have you lived in 25 different places? If not, this may be the problem if creditors think you are moving around alot when it is only a slight variation in how the adderss is recorded that is causing the problem. You should be able to clear this up with experian or equifax.