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Equifax credit scoring
coltrane23
Posts: 3 Newbie
in Loans
At the end of January I was refused an interest free loan by a very well known DIY store. In all my life I have never been refused credit so I was very surprised by this. I immediately decided to check my credit score. First up Experian who scored me as excellent. Then I looked at Equifax who appeared to have two items of concern:
1. An outstanding (sic) Vodaphone bill. Vodaphone confirmed that this was incorrect and I advised Equifax of this. This has now been cleared from their records
2. I moved into a new property in August of last year and proceeded to arrange utilities, Virgin cable & phone and I coincidently changed mobile phone provider all in a very short space of time. Because I had lived in my new home for less than 3 years credit searches were done both on my new and old addresses. Now Exquifax have downgraded my score because I have had too many searches in a short space of time and I have been refused a loan. I know credit searches impact badly on credit scoring but I thought some level of intelligence would be used to qualify the data these companies gathered. Also why does Experian give me an excellent rating when Equifax the complete opposite?
Is there anything I can do to counter this?
1. An outstanding (sic) Vodaphone bill. Vodaphone confirmed that this was incorrect and I advised Equifax of this. This has now been cleared from their records
2. I moved into a new property in August of last year and proceeded to arrange utilities, Virgin cable & phone and I coincidently changed mobile phone provider all in a very short space of time. Because I had lived in my new home for less than 3 years credit searches were done both on my new and old addresses. Now Exquifax have downgraded my score because I have had too many searches in a short space of time and I have been refused a loan. I know credit searches impact badly on credit scoring but I thought some level of intelligence would be used to qualify the data these companies gathered. Also why does Experian give me an excellent rating when Equifax the complete opposite?
Is there anything I can do to counter this?
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Comments
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Hi
We have a board dedicated to loans which may be of more help to you on this - so I'm going to move the thread across there for you.
Good luck Hi, I'm a Board Guide on the Old Style and the Consumer Rights boards which means I'm a volunteer to help the boards run smoothly and can move and merge posts there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com. It is not part of my role to deal with reportable posts. Any views are mine and are not the official line of MoneySavingExpert.Never ascribe to malice that which is adequately explained by incompetence.DTFAC: Y.T.D = £5.20 Apr £0.50
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