Credit Report - Absolutely gutted!!!

Simon7685

Hi Guys

I know there is no such thing as a "credit score" but we all know that credit reports come with one or something similar, which is supposed to give you an idea of where you are with your credit worthiness.

I started to take note of my "score" and my credit report in general a few months ago, as I knew I was starting to come out of the abyss after a long hard difficult 6 years.

I signed up for the Noddle trial and was accepted onto it. A snapshot of my financial state at the time read, 1 x default (2005), 1 x CCJ (2005). I had 2 credit card accounts both quite new and 1 months green tick on each. At the time they gave me a credit rating of 3/5, which I felt was actually quite positive given my situation and where I was coming from.

The next month, the default dropped off my file and I had been accepted for a Capital One card as well (20% lower APR than Vanquis). The net result was despite more green ticks they scored me at 2/5:(. So despite losing the default my "score" appeared to be worse, which I put down to getting the Capital One card. Oh and British Gas had started reporting to them as well so that was now showing up as a credit account. This annoyed me a bit because despite having been with them for years, never been in arrears or missed a payment and apart from at the end of the winter quarter always in credit (currently £300) it comes up as 1 green tick!

So I picked myself up and thought ok not to worry, it will be better next month. How wrong could I be???

I have just received this months free report which shows;
Vanquis - 4 green ticks
Aqua - 3 green ticks
Cap One - 2 green ticks
British Gas - 2 green ticks
no new credit searches or applications for credit anywhere and they now rate me at a mind blowing........... wait for it.........
1/5:eek::eek:
I am now beginning to wonder what the hell is the point??? According to them despite losing a default and gaining more green ticks each month, I have gone from 3/5 to 1/5 in 2 months. My CCJ is due to drop off on 8th November, so next month I won't have that on my file and I will have more green ticks as I pay everything in full each month and at the rate things have gone I think I can expect a 0/5 rating dropping to negative by Xmas 2011:(

I am absolutely gutted, you do things right, lose negative things off your report, pay everything on time, in full and end up worse than you were before.

I just don't get it!!!!!! 3 months ago I was full of optimism and looking to a better future, with a rebuilt credit rating and now, well I feel like I have been kicked in the b!*#s:(

CG19a

The Noddle credit score is worthless. I have had no late payments at all in the last 6 years that are reported on my file, always stay within my limits, yet they only scored me 1 out of 5. In the last week I've got a new RBS credit card and Natwest credit card.

triticale

If one was cynical, one might think that they deliberately give you a cr4ppy 'score', so they can then offer you 'products' to 'repair' your 'score'.

If one was cynical, of course.

redpete

Simon7685 wrote: »

I am absolutely gutted, you do things right, lose negative things off your report, pay everything on time, in full and end up worse than you were before.

I just don't get it!!!!!! 3 months ago I was full of optimism and looking to a better future, with a rebuilt credit rating and now, well I feel like I have been kicked in the b!*#s:(

Do you know that the score from Noddle means anything relevant to a decision that a lender will make? Until you fail to get a loan / mortgage / CC / phone contract etc. why would you get so worked up?

opinions4u

Worrying in this way is like being obsessed with obtaining a Thanked / Posts ratio above 100%.

Pointless.

(click the box please chaps, just trying to keep ahead)

[Deleted User]

Nobody cares about the score. Nobody sees the score. The score is neither seen nor cared about. Being seen and being cared about are not two things which ever happen to the score.

So stop worrying about the score. Just do the right things to improve the way your report looks. As you're already doing.

[Deleted User]

opinions4u wrote: »

Worrying in this way is like being obsessed with obtaining a Thanked / Posts ratio above 100%.

Pointless.

(click the box please chaps, just trying to keep ahead)

I've just removed the last 20 thanks I've given you, so there.

opinions4u

Deleted_User wrote: »

I've just removed the last 20 thanks I've given you, so there.

My life is in pieces!

Is there anything I can do to repair this?

[Deleted User]

You'll need to prove my thanks were mis-sold, I believe. But since you accepted them and didn't raise concerns at the time, I believe you have two chances of winning any claim to have them reinstated. None and bu99er all.

I think you'll find it's all in my t&cs. Or at least my somewhat flimsy user manual.

Simon7685

I appreciate that "credit scores" are not important, I did put that at the top of my original post.

It is just very disheartening when you think you are improving your credit rating and it appears to get worse, even though there scoring system might count for nothing, it still feels a kick in the teeth, that is all I am saying.

triticale

Simon7685 wrote: »

I appreciate that "credit scores" are not important, I did put that at the top of my original post.

It is just very disheartening when you think you are improving your credit rating and it appears to get worse, even though there scoring system might count for nothing, it still feels a kick in the teeth, that is all I am saying.

As I said, that might be exactly their plan. I wouldn't trust them at all.