Credit Checks and score

bbjm79

Hi all, new to the forum.

I have recently been trying to apply for a loan for a new (2nd hand) car. I was accepted by Santander at the first try, but when the paperwork came through, the rate had changed and so I cancelled the agreement.

On the same day, I applied for another loan for the same amount (£6000) via Post Office loans and got declined on-the-spot.

So, licking my wounds, I decided to use Experian's 30-day trial to check out my credit rating/score. My credit score is classified as 'poor', although I have never defaulted on any loan payments (not had a loan for last 4 years) and always paid bills by direct debit. My only mishap has been a couple of missed credit card payments in the last 12 months, due to my own oversight.

Also, I am not on the electoral roll, but have since rectified this (any idea how long it takes the council to update this?)

Anyway, it would appear that by applying for credit twice in the space of a few days has also done me no favours, but the puzzling thing is this:

When I look at the checks that have been run on me by various agencies over the past 12 months, there are 4 that I can't account for. 2 of which relate to car insurance quotations dated the 9/9/2011 and the other 2 show as 'Unrecorded enquiry' all linked to my previous address which I vacated in 2009. I have categorically NOT had any quotations recently and the fact that they all relate to my previous address is concerning.

So, should I investigate this further or is this normal. Also, any advice on whether I can continue looking for credit or should I hold tight for a bit?

Thanks in advance

Edit: I have now paid off my credit card in full using cash in an e-isa, how long will it take for credit-expert to see this? I presume the missed payments will remain though???

somethingcorporate

Missed payments will stay as they were missed. I would certainly investigate the searches at your old address, especially given you left it 2 years ago.

[Deleted User]

you might not appear on the electoral role till the new year now

NeverEnough

Not appearing on the electoral roll will cause an automatic decline from many, if not most lenders. It takes up to three months to appear once you have submitted the details, and it probably is NOT a good idea to apply for credit again until you are sure you actually appear on the updated roll.
Plus, it would be good to get the Equifax, Experian and Callcredit reports just to check for any problems - some things may not show on each and every CRA report. Don't pay for scores, they are meaningless, just get a free trial and get your reports, or pay £2 for each report from each agency for the statutory report.

Dundee_Lad

Hi guys, I am having a simliar problem. Not being able to get credit anywhere at the monet but I did get a loan from my bank at the end of July. Went to get a catalogue today, for some xmas shopping and refused again. I am not on the electoral role, but I will get this changed.

I have also tried getting a credit report through callcredit (recommended on this site) and it did not find any details for me?!

DebtDunker

Dundee_Lad wrote: »

Hi guys, I am having a simliar problem. Not being able to get credit anywhere at the monet but I did get a loan from my bank at the end of July. Went to get a catalogue today, for some xmas shopping and refused again. I am not on the electoral role, but I will get this changed.

I have also tried getting a credit report through callcredit (recommended on this site) and it did not find any details for me?!

Hi dundee Lad,did you try emailing :money: ?
I am new here too and having difficulty with Crapquest Debt Recovery,In two minds wether to phone them and tell them shove it.:mad:
Best of luck

Tixy

Dundee_Lad wrote: »

I have also tried getting a credit report through callcredit (recommended on this site) and it did not find any details for me?!

As you are not on the E/r then it is possible they would not have any data on you (if none of your credit providers happen to report to callcredit - callcredit is the smallest of the 3 agencies).

Your own bank will have already verified your address in the past which is why they will often still lend when you are not on the E/r, but it is likely to cause other places to delcine you.

Dundee_Lad

DebtDunker wrote: »

Hi dundee Lad,did you try emailing :money: ?
I am new here too and having difficulty with Crapquest Debt Recovery,In two minds wether to phone them and tell them shove it.:mad:
Best of luck

Tried emailing who sorry?

bbjm79

How much do lenders take note of your actual score as opposed toa full credit report?

By paying off my credit card (only £600 owed) my score has leapt from 697 (poor rating) to 957 (good rating), but obviously the missed payments and electoral roll problems are still there.

[Deleted User]

bbjm79 wrote: »

How much do lenders take note of your actual score as opposed toa full credit report?

None whatsoever. It's not even seen by them. The report is everything.

Lessbutbetter

By paying off my credit card (only £600 owed) my score has leapt from 697 (poor rating) to 957 (good rating), but obviously the missed payments and electoral roll problems are still there.

Whoa!! Your score jumped 260 points to an almost a flawless score just by paying some money off your credit card! Imagine that, an almost perfect score yet you still have a history of missed payments and are not officially on the Electoral roll.

That's amazing