Could someone explain Credit scoring please???

Skullcreature

Hi,
I was in debt about four years ago and I've kept my record clean since then, paying everying on time and i was offered a chance to check my credit score online which i did, and i was told i have a credit score of 577 and beside it had 5 stars and i had 3 out of the five stars, so am not sure what this means am i ok getting credit or should i wait longer, as my mobile contract, which is in my brothers name, is due up soon and i want to move to another operator with it in my name. If anyone could help i would be greatful.

Regards

Rab

danthemoneysavingman

it differs from lender to lender, the number means nothing really, just an indicator you're halfway between no chance and no problem!
Unless you want a ridiculous price contract, I couldn't see a problem here, but i don't work in telecoms so it'd just be a case of suck it and see. No harm in trying. A single credit app won't adversely affect your record or chances of getting credit, and I think mobile phone credit check is less stringent than for banks.
At least make sure you're registered on the electoral roll - proof of address is always key.

DarkConvict

As above, numbers are meaningless.

from what you have said getting a mobile should be fine, the only thing i will say is if you are not registered to vote at your address it maybe harder. Operators often fail people on this point even if they have a good record. Its just what they do, probably for fraud preventation.