Awful credit score....but GREAT credit report?

DarnIt_3

Hi,

I am new, but have been reading threads from afar for a little while now. Thought I would see if anyone else is in the same boat as me!

I have a perfect credit report....no defaults...never missed payments, in fact I only owe £20!

Here is the what I think the problem is....I have never had credit until next offered me an account in March. I planned to in the next two years buy a new car, I know I am going to need finance so I took out a stupidly high APR small loan (£1400) because no one else would touch me....just to get my credit rating up but this is yet to appear on my credit report! I need to build my credit report up! I have taken out a credit card Capital One with a £200 limit which to be honest I haven't used yet and don't want too.
I am only just registered on the electoral despite being in my home for over a year.

Is there anything else I can do to improve my credit score quickly? Without taking out anymore crazy credit that I don't want?
I just want a normal bank to be in position to offer me credit when and if I need it, at the moment I wouldn't even be in a position to be considered for a mortgage despite being in a high income home!

Any insight would be great

Current score of 446!

[Deleted User]

Ignore the score. It's irrelevant.

You need to start using the credit card you have. You can't demonstrate to lenders you can handle credit if you refuse to use it. Put your normal shopping on it and pay off in full each month.

DarnIt_3

Deleted_User wrote: »

Ignore the score. It's irrelevant.

But I thought lenders were only interested in the score? It is the summary of your credit report isn't it?

[Deleted User]

No. No one is interested in your score. They're interested in what it says on your report - has this loan, paid it back, missed payments on this card, lived at this address for 10 years, etc. And then they want to know if you have a job, how much you earn.

Essentially, new born babies are allocated a 999 score and you keep that for ever until you commit murder, treason or miss a load of payments on a debt. It's garbage, but nicely packaged garbage.