Credit score

jetr77

Hi Im due to be AD on 29TH Nov:j , just though Id have a look at mine and husbands credit reports, our credits scores were 518 and 503, does any one know how bad that is? I know we need to wait 3months after AD to try and clean up pur files.

Many thanks

kepar

If you Google credit scores you will find the answer.

kepar

Credit Score Score Rating
901 to 990 "A" credit (Excellent)
801 to 900 "B" credit (Good)
701 to 800 "C" credit (Average/Fair)
601 to 700 "D" credit (Poor)
501 to 600 "F" credit (Bad)

jetr77

Hi I googled as you suggested, looked at experian and it said - 0-299 very poor, 349 poor, 399 fair, 474 good and over 900 excellant. Will try and rebuilt after discharfed next week. Thanks for replys

dojoman

To be honest your credit score means zilch whilst your BR is still on your credit file.

Ineedaname

Credit scores are purely the credit reference agencies' opinion taking into consideration the information they hold on your files. They are not necessarily taken into consideration by any lender when conducting a credit check.

Years ago, when Experian first offered their 30 free online trial, I signed up and my credit score was over 990, near perfect. I was keeping up with all repayments and hadn't missed even one for several years. However, I still couldn't obtain any more credit as the amount I already owed was higher than my salary.

Most lenders will have their own scoring system and take into account many more factors than the CRAs do for their scores.

Experian_company_representative

That's right, the score we provide to you sums up your credit history but is no guarantee you'll get credit because lenders factor in other data to their scores and fine tune their scores (often with our help!) to take account of their customer base and lending policies.

The bankruptcy will drop off your report after six years, but your creditworthiness will to start to improve once the discharge is updated and as time passes. Do make sure all of the individual records are updated by your lenders as satisfied. We can help with this if necessary. You could also add a note to your report to explain that the individual debts were included in and cleared by your bankruptcy, plus an explanation of why you got into difficulties in the first place. Any future lender you applied to would then see this note and be aware of the circumstances.

James Jones

[Deleted User]

Those numbers aren't correct... Mine's 841, rated as fair.

Ineedaname

Power Kitten - the point is not to take too much notice of credit scores. See posts #5, #6 & #7 which confirm they're only internal scoring and do not necessarily reflect the likelihood of gaining credit from any particular lender.