Credit score, real?

mp80

Hi

I've just done an Experian Credit Score and got 999

Is this likely to be a mistake? Seems a bit "too good to be true"?

Farmerbob

I have that score as well, however it really does not mean anything to the banks etc they tend to use their own scoring system, and they will look at your credit commitments and payments rather than the score. Not that I want to burst your bubble, but i read it a few times on here so did not get too excited when i checked myself!

holly_hobby

Any on line CRA "score" bears no relevance as to how a lender will credit score your application.




Aspects that will affect an application with a mortgage lender are items such as (but not exclusive to):-

• any adverse credit data
• late payments
• over commitment/exposure re financial commitments
• frequent changes to address
• numerous and recent credit searches

There is no need to be overly concerned unless you do have any adverse data or lots of house moves ...

If you are concerned go for an AIP with a high st lender, declare everything to them, and see whether there are any problems..

Hope this helps

Holly

mp80

Already have the AIP with FD. Will I have been credit.
searched already? Nothing showing on the account...

holly_hobby

It will probably be a public domain search if no footprint left - shows Voters Roll, CCJs, Repo & Bankruptcy Orders.

If you have declared all financial commitments, any late payments, defaults - you should be fine on full application.

Hope this helps

Holly

mp80

Great - I've never missed any payment in my life and have 1 x finance outstanding which I intend to pay off in full.

One final question

I pay off my credit card in full every month but on the Experian report it states that the balance is still unpaid. Will this be factored in against me depending on the time they decide to look at it?

Thrugelmir

mp80 wrote: »

I pay off my credit card in full every month but on the Experian report it states that the balance is still unpaid. Will this be factored in against me depending on the time they decide to look at it?

Delay in updating. As depends when the lender provide(s)d the information to Experian.