Credit ratings and score

scaleyback82

I am currently trying to get my credit score and have signed up for the free 30 day trial with Equifax. Everything on there was in green but I was still turned down for credit. I can see the report but not the score, is this important? Also can I find out the reason the application was turned down? TIA:(

Apples2

Are equifax offering you a loan?

The score is completely useless, only lenders consider a score, which they decide for themselves, they don't give a hoot about the "score" equifax award you.

As you can see, having everything green does not mean you are a good risk.
Lenders take into account a host of other info such as Salary, employments status, credit limits (exposure to credit).
No lender will ever tell you how they work out your score, some even score you on whether you have a landline for your phone!.

You can post on here your salary, how much debt you already owe, what your credit card limits are, if you ever use your overdraft, if you are on the electoral role, if you are a home owner (and for how long).

The list is endless but the more info you can give, the more useful the replies will be.

CLAPTON

equifax score is meaningless because equifax don't offer loans and lenders use the information on the credit reports plus other information (mainly that supplied on the application form) but not the equifax score

you can ask the lender why they turned you down although you often only get generic answers which are not much help


how much were you applying for?
how much debt do you have
whats your salary
are you on the elecroral roll