credit rating score

miss_help_2

Hi all

just had a look at my credit score on credit expert experian and got excellant but with equifax i got good.

they both hold the same information but sore me differently.

think its a bit unfair as i have just went for a morgage and got turned down on my credit score.

the bank checked my score with equifax.

think the scoring system for the two companys should be set the same, how can they score me differently when the details are the same

Saints2011

The score all three provide is a waste of money they do no lend money, each lender will score you differently

Apples2

What if credit expert gave you a good as well?
They would both be the same but not necessarily in your favour.

The numerical score is worthless. The file itself is useful but it is only the tip of the iceberg. There are many many more factors money lenders use to score you.

Tixy

You were not turned down because of a score givenby equifax to the mortgage company as no score is given. What the potential lender would see is your main credit report listing your accounts, limits, account history etc, your address and previous address details, details of whether you have any judgements against and detail of whther you are on the electoral roll.

It is from this information and all the extra information your provided on your application (job, income etc etc) that the potential mortgage lender made a decision not to lend to you.

BoGoF

Is it not time 'King of the Consumer' Mr Lewis urged people to stop paying for a worthless credit 'score'. After all he has a go at much less worthy causes......

And it would stop these my credit score is brilliant but posts

Experian_company_representative

Most lenders obtain data and scores from whichever CRA or CRAs they use. The CRAs are the credit scoring experts - Experian was the first company to develop and sell credit scoring systems in the UK in the 80s. However, and as I've clarified before, the scores you can get yourself from the CRAs only rate your own credit report data - which is still very useful of course. But lenders' scores cover more things such as financial associate data and income.

James Jones