Who will be honest with me about my credit rating

BugsyBrowne

Experian_company_representative wrote: »

Our contact centre should be able to advise you on this. I can't see your credit report and I don't know your other details. Your score was extremely low so I suspect something is amiss.

James Jones

To be honest james jones think the biggest query about this credit score of yours is when people come on here and say i have a really great credit score from experian of 970 which is excellent they say.but keep getting turned down from lenders,then you ask them is their anything on your credit report that may well be causing this,they reply yes i have 3 defaults,so not only have you boosted their confidence with your score you gave them they are also trashing their rating for future applications.

Personally yes this experian credit score is a great way of making money,but its wrong to charge people money to give false information especially to people who don't realize what they are actually spending £6 on.

ElkyElky

star-fire wrote: »

To be honest james jones think the biggest query about this credit score of yours is when people come on here and say i have a really great credit score from experian of 970 which is excellent they say.but keep getting turned down from lenders,then you ask them is their anything on your credit report that may well be causing this,they reply yes i have 3 defaults,so not only have you boosted their confidence with your score you gave them they are also trashing their rating for future applications.

Personally yes this experian credit score is a great way of making money,but its wrong to charge people money to give false information especially to people who don't realize what they are actually spending £6 on.

That must be the most decent thing I've ever seen you write. :beer: You're absolutely right, although it would have been quicker just typing "the score is about as worthless and useless as a car with no wheels".

izools

Experian_company_representative wrote: »

Our contact centre should be able to advise you on this. I can't see your credit report and I don't know your other details. Your score was extremely low so I suspect something is amiss.

James Jones

First off, the call centre say that I shouldn't be approved for anything with a credit history like mine.

So no, they can't enlighten me with more information.

Secondly, if the call centre were able to advise on why, surely their knowledge should be integrated into your score calculator?

If they can see for example, "Yes, iZools' Mum, you will find it hard to get credit with a Barclaycard that's only just come out of a seven year arrangement to pay" then surely the score you sell should also know this and mark her down accordingly?

If it doesn't, then it means it's inaccurate.

And I can confirm that it dosn't take the AP markers into consideration; as she had a 980 score before taking the card out of an arrangement, and a 980 score nine months after taking the card out of an arrangement.

Conversely, her Equifax score was "Poor" with her Barclaycard was in an AP; and "Fair" for the six months after she took it out of an AP, and now "Good" since it's been six months clean running with her Barclaycard. And no, nothing else has changed on her file even searches.

Her Equifax score also made it very clear that having the card in an AP was very bad, and having recently taken out of an AP was a risk factor but not so much of an issue if there were no other risk factors on her report.

Your score, however, mentioned nothing about the fact the account was in an AP (Despite the Special Instruction Indicator being present and correct) and instead marked the account as "Satisfactory" stating "You pay all your accounts on time" as part of the score despite the Barclaycard account being arranged. A literal lie.

I'm not defending Equifax' score but it does seem more accurate than yours, and more helpful, by far.

vaporate

I see it as this:

Banks report to experian if you go overdrawn without permission, fail to pay a loan on time every month, credit card etc.

All, I hope, gets reported to Experian. In turn, giving a score on how you are coping for a small fee.

Saying that, should you cancel your recurring monthly fee, the sales people do 'try it on' with the hard sale tactic to make you stay.

I quote, "don't you care about your score?" is what I experienced when I cancelled after seeing it once out of pure noseyness.

That is my take on it.

Watalie

I've made the mistake in the past of purchasing my credit score (which I know is rubbish anyway!) in the past and don't think I'd do it again. I do subscribe to the monthly thingy but for my peace of mind more than anything.

I do think the public are stuck between a rock and a hard placce. We have no choice but to use the 3 CRA's and they all have their faults. But peddling a useless score at 5.99 a go is shocking & I wish I'd found MSE before I found Credit Expert!

My personal gripe with Experian is the linked address rubbish! I now am into over 100 linked addresses - even though I have only lived at 3 for the past 10 years. It's crazy.

Equifax are much better in the last few weeks since they updated the website/member centre thingy.

Call Credit - truely shocking!! The worst of the lot. I got an email alert today and when I log in... no sign of the alert.

Ok, I think I've just rambled a bit here now

izools

vaporate wrote: »

In turn, giving a score on how you are coping for a small fee

This, my good sir, has hit the nail square on the head.

You could term it a "Credit File Health Analisys" or a "Coping Score" or any number of other things, just not a credit score as it is not this.

Making the customers very aware of the fact that the score merely represents the apparent health of the data on their credit file alone not in any way related to their credit worthiness, would in my eyes, make it an acceptable product to sell and market.

Passing it off as something else is not acceptable.

vaporate

izools wrote: »

This, my good sir, has hit the nail square on the head.

You could term it a "Credit File Health Analisys" or a "Coping Score" or any number of other things, just not a credit score as it is not this.

Making the customers very aware of the fact that the score merely represents the apparent health of the data on their credit file alone not in any way related to their credit worthiness, would in my eyes, make it an acceptable product to sell and market.

Passing it off as something else is not acceptable.

Strongly agree.

BLT_2

incesticde wrote: »

Is there really any reason for such a petulant post? We have an experian rep on the boards which could actually come in useful for some people.

Not quite sure what is useful about continually defending an indefensible product. There is only 4 pages on this thread and already at least half a dozen people have given examples of why this credit score scam of Experians is on a rough equivalent with loanfinders working practices.

BLT_2

KingElvis wrote: »

He's probably gone off to check his "score" :rotfl:

I've always wondered, why £5.99? why not £8.99 or £4.99?

I guess £5.99 is on the limit of what people will pay without smelling a rat.

It clearly isn't working :rotfl: