Credit Report - Absolutely gutted!!!

Rupert_Bear

My credit report summary

Credit Rating
5 /5
Open Accounts

Credit/Store Cards
9
Loans
1
Mortgages
1
Bank Accounts
5
View all 9 accounts
Public Data

You have 0 Court Judgements against you.
You have 0 Bankruptcies, Administration Orders or Insolvencies against you.

Quite right the internal score is useless but is good for the feel good factor.

Lessbutbetter

I started to take note of my "score" and my credit report in general a few months ago

Sounds like you're sitting waiting for the details to update every month, and perhaps waiting to see the golden "score" to drop or even better increase. This would be as you say a "disheartening" and unhelpful hobby, so myself and others would suggest you cancel your subscription [if you have one].

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.

Your green ticks and small number of credit searches is all you need to worry about, so you should ensure that those good factors on your report stay that way. If you do a little research online you'll find clear evidence from trustworthy sources, that no "score" from any of the agencies are of any use. They do not lend money, however they do need to make [huge] profits which is where their "score" systems and so called "products" come in to play..... to "help" us of course.

Hope this helps

Gordon_Hose

Mine is 1/5 - 4 defaults, 2 settled.

Do I care? No. Why? Because I won't be getting any more credit. Ever.

dtsazza

Simon7685 wrote: »

It is just very disheartening when you think you are improving your credit rating and it appears to get worse

Bolded the important part. Your credit report is getting better - just because a company with a vested interest in you thinking that your efforts are failing, doesn't change the facts of the matter.

You're doing the right things, and your report is looking better and better to lenders.

even though there scoring system might count for nothing, it still feels a kick in the teeth, that is all I am saying.

I see where you're coming from - hopefully this thread will give you the reassurance you need to reject their scores as meaningless rubbish.

The next time you see a low score come through on your report, smile to yourself at the cynicism of the company and how you're savvy enough to not be affected by it - rather than feel bad because you somehow believe it's relevant to your chances of being accepted for credit.

opinions4u

Deleted_User wrote: »

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

Please can you provide me with the original signed agreement.

Simon7685

Just to clarify, I don't pay any subscription to Noddle at all. It is a completely free service from Call Credit the CRA. You get a free credit report once a month and the score they give you is free as well. They don't offer any "repair" service or charge any fees, so it is not costing me anything.

Even though their "score" is irrelevant when it comes to applying for any credit like Rupert Bear #12 said, it does make for a feel good factor. When you have had over 6 years of not even being able to get a decent bank account because things have gone wrong in the past, then that feel good factor can affect you. All anyone in a position like that wants to see is things improving and when the first screen you see is a "score" and it has gone down, it does disappoint you, if you know you have been trying to get things right, deal with your credit issues and get on the right track (which I am).

It doesn't mean anything when my football team gets beat at the weekend but it is still disappointing when you see it in the paper!

It isn't going to stop me from carrying on and doing the right thing by paying on time etc and hopefully one day getting back to a decent state with my credit report and credit worthiness though.

opinions4u

It doesn't mean anything when my football team gets beat at the weekend

Yes it does! More important than anything else in the world!

(Although if you're a Scarborough fan it's been a bad few years, and now you've signed Windass!)

auto-man

All 4 of these accounts you quote are less than 6 months old so there has to be searches; I'd hazard a guess that as you've now got 4 new accounts in only the last 4-6 months THAT'S why your score has dropped.

Getting too many new products affects your score anyway. But the call credit score is worthless anyways

redpete

Simon7685 wrote: »

JIt doesn't mean anything when my football team gets beat at the weekend but it is still disappointing when you see it in the paper!

Wrong analogy because:

1) It really does matter when your team gets beat (this coming from a Manchester United fan after last weekend); and

2) What doesn't matter is when a sports journalist says that your team might get beat next weekend because they got beat in the same fixture last year, the opponents have won the last 3 matches and your team have lost the first game in November in 7 out of the last 10 seasons.