Credit Report Problems

Nottingham89

Hello everyone,

I have just checked my credit report for the first time with Credit Expert and every thing seems fine with it.

I have credit accounts with Littlewoods and my limit is £375 but the payment is made on time every month, same with Jacamo and my limit with them is £200, I have a loan with Provident and the payments are always on time, I have also had 3 small loans with Wonga and they were always paid on time and I have a £400 over draft with Natwest and I have never gone over it and I pay the interest each month on time.

To my horror my credit score is 281, how can this be possible?

Tixy

Your score generally isn't something to focus too much on. What is on your report is what is important. But that said -

Are you on the electoral roll at your current address?
Do all your accounts show all payments on time? no old closed accounts that still show that have missed payments or anything worse?
Payday loans or income advance loans as they are often shown as on your credit file generally don't look good to other potential lenders.
Have you had a lot of searches for credit applications in the last 6months?

Do you have any financial associations of your credit file?

Nottingham89

Hi Tixy,

I did have a problem with Orange for over 6 months, they decided to default my account for some strange reason but it was finally sorted out on Monday and all the default markers were changed to Query. All of my credit accounts state " Satisfactory " on them.

There has been 10 searches for credit in the last 6 months, is that too much?

Pardon my stupidity but what do you mean by association's? ?

Tixy

There is a section towards the bottom of the report about financial associations - whether you are financially linked with any other person. This usually is as a result of a joint bank account, loan or mortgage.

Are you on the electoral roll? if not this will have a big impact on your ability to get credit.

The default will have been having a very big impact. If its now gone then you should find it easier to get credit.

Nottingham89

There is no associations at all and I am on the electoral vote register, I can't see any thing else that could be wrong with it. I will stop using Wonga if that is the case, I only needed them due to some payment problems with the housing association but they were sorted out quickly.

I am only 21, can any body give me any advice to try and make it look better?