CONFUSED OVER credit referance???

BANANABUS

Evening

I've had both my free credit reports.

EXPERIAN i have a a GOOD credit score higher than 50% of uk consumers!!

Equifax says i have a POOR credit score!!

How can this be?

So do i go with banks/ cards that only use EXPERIAN

or what ?

cheers JIM

impy78

I had this as well... to be honest I think the Experian ones are inaccurate, as I had the same thing, but it had left off information that I knew should have been included.

As far as I am aware, as I cannot get credit on anything at all, most places use equifax.

Phoenix79_2

My Experian credit file has more items on it than my Equifax one. I always thought Experian was the more commonly used one?

vwman_3

Phoenix79 wrote:

My Experian credit file has more items on it than my Equifax one. I always thought Experian was the more commonly used one?

Same here..........

Astaroth

They are both inaccurate... or more accurately they are both just their personal opinion.

Credit ratings are made up of credit history (which is a matter of fact) and your personal circumstances (your salary, how long you have lived at your address etc). Companies take both these sets of information and apply a scoring system to it (eg 100 points for job over 3 years, 50 points for job over 1 year, 10 points for job under 1 year - -100 points for a default, -10 for a late payment etc).

The "difficulty" is the fact that every single company can set its own scoring system so for one company the length you have been in a job can be weighted much more than the length of time you have lived at an address. The scoring that the credit reference agencies give are purely their own scoring system and therefore can be very different to each other and from what a company you actually apply for credit uses.

You do also have the added complication that the agencies dont hold identical information on your history so even if the same scoring system was applied the variance in information would result in a variance of scores/ ratings

jonnyb

impy 78 - we (experian) who I work for, are the most commonly used.

somewhere in here is a thread of who uses whom - count em and weep.:T