Who will be honest with me about my credit rating

antonia86

OP - I used to work for a bank and can tell you that the people in the branch will not know your credit score. They will have meant you probably had guarenteed products with them - signifying that you had a good relationship with the bank more so than a high credit score.

hedgehopper_2

antonia86 wrote: »

OP - I used to work for a bank and can tell you that the people in the branch will not know your credit score. They will have meant you probably had guarenteed products with them - signifying that you had a good relationship with the bank more so than a high credit score.

So when he typed stuff into a screen saying 'I'm going to check your credit rating now!' and then waited for the result to pop up he was play-acting? That's pretty weird if so!

BugsyBrowne

hedgehopper wrote: »

So when he typed stuff into a screen saying 'I'm going to check your credit rating now!' and then waited for the result to pop up he was play-acting? That's pretty weird if so!

Hedgehopper banks do not know what score experian have gave you for the reason is they don't give a sh*t,banks do their own credit scoring when deciding to give the applicant credit.

MrsTinks

star-fire wrote: »

I was saying a credit score of 999 from experian is meaningless.
you say its a well known fact that some lenders dont actually want people with a high rating,oh yeah so the best thing to do is get people with low credit ratings caused by defaults and missed payments.
Think you meant paying in full each month

*sigh* and did I not point that out too? Did I not say that this number is meaningless - I only get it because I personally have an obsession with it... it amuses me to see my score and then if I get approved when I apply for something or not.

No-one has said that banks prefer bad debtors who default and can't manage their credit - on the other hand there is also no profit in people who manage their finances too well. Sadly no credit company will be likely to release THEIR requirements and what their system is set to accept when you apply.
However the accounts on the forums tell us that there are SOME things that will cause almost guaranteed rejection - too many applications too close together, too much available credit, too much debt and not being on the electoral roll is increasingly looking to be an immediate "No".

Am I proud of my 999? No not really - I find it interesting and wish I could see the algorithms used to calculate it and compare it to ones used by banks etc. But that's because I analyse things for a living I guess...

MrsTinks

star-fire wrote: »

Hedgehopper banks do not know what score experian have gave you for the reason is they don't give a sh*t,banks do their own credit scoring when deciding to give the applicant credit.

Yep - he may have looked at your INTERNAL score with them Very very unlikely he checked your credit file with experian or equifax - and if he did he should have gotten your consent as it would be a search against your name and too many in a short time will lower your "score" (for lack of a better term) even further

BugsyBrowne

MrsTine wrote: »

*sigh* and did I not point that out too? Did I not say that this number is meaningless - I only get it because I personally have an obsession with it... it amuses me to see my score and then if I get approved when I apply for something or not.

No-one has said that banks prefer bad debtors who default and can't manage their credit - on the other hand there is also no profit in people who manage their finances too well. Sadly no credit company will be likely to release THEIR requirements and what their system is set to accept when you apply.
However the accounts on the forums tell us that there are SOME things that will cause almost guaranteed rejection - too many applications too close together, too much available credit, too much debt and not being on the electoral roll is increasingly looking to be an immediate "No".

Am I proud of my 999? No not really - I find it interesting and wish I could see the algorithms used to calculate it and compare it to ones used by banks etc. But that's because I analyse things for a living I guess...

Apologies its me rushing into posts and not reading them properly.

epsilondraconis

OP, it may be worth you reading the following MSE article:

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Edit 1 - It also gives you info on how you can check your credit file without having to pay (or at least pay very little).

Edit 2 - I take my hat off to you star-fire for your post #17. Many people wouldn't be gracious enough to say such a thing...

SJ1

Please bear in mind that it will take a few days to check your credit file as you can apply easily enough but they will need to verify that you are who you say you are in order to give you access to your file and it is that which you will need to see in order to check if it is correct or not. This might be tricky for you if you haven't had many bills yet- I think you need several forms of ID and proof of address.

I am with Mrs Tine, I love looking it up even though I too know it is meaningless! Gives me a stupidly good feeling!

Good luck. One last thing - how many times have you applied for credit in the past few months as that too can really affect your rating.

S

hedgehopper_2

SJ1 wrote: »

Good luck. One last thing - how many times have you applied for credit in the past few months as that too can really affect your rating.

S

I've now applied for two. Should I leave it at that for a few months?

Only other thing I could try is getting my bank to send me a new card, as I do have an open account with them that I have paid off, but no longer have the card itself. I did ask them to reactivate it a week ago though and they said there was a block on it though, which also made me worry

SJ1

I would leave applying for more cards until you find out what is wrong and for that you need to check the file. I think you aren't being helped by the fact that you have just moved and additionally you weren't living at the last address for more than 3 years. That said I am just guessing, you need to get the facts. Did you ask why there was a block on the card with your bank?

Lastly you keep referring to the Mistake but what is it that has happened - if we can ask - do you think that has affected your rating?

S