Help with experian credit report

mummy_jonno

Hi everyone I am new and I didn't really know where to put this so excuse me if it's in the wrong section.

Basically I signed up with experian a month ago to check my credit report. Being as I have no credit (I am a carer for our son my husband pays all bills) my credit rating with no credit was 618 so i signed up with t - mobile on a sim free plan to get some credit.

After I signed up to t mobile it shot up to 654 even though t mobile for some reason aren't listed on my credit report at all???

Now I applied for a wonga loan (didn't need the money simply showing I make payments to boost credit rating) I checked my new credit rating this evening and I am now down to 508!! The payment for wonga is not even due yet and t mobile is paid but not showing up on my file as even having a mobile phone with them.

Any ideas as to why on both of these things?

thanks in advance

DevCoder

Credit scores are useless, stop looking at them and definitely stop paying for them

New accounts affect your credit rating

Wonga or other PDL are frowned upon by mainstream lenders as they indicate you are living beyond your means.

Using / Paying PDL will not improve your credit worthiness for mainstream lenders.

Concentrate on keeping repayments on time, no missed payments.

Get a credit card if you really must and buy a few items then pay after statement date but before due date "in full".

Make sure you are on the electoral roll.

mummy_jonno

krisdorey wrote: »

Credit scores are useless, stop looking at them and definitely stop paying for them

New accounts affect your credit rating

Wonga or other PDL are frowned upon by mainstream lenders as they indicate you are living beyond your means.

Using / Paying PDL will not improve your credit worthiness for mainstream lenders.

Concentrate on keeping repayments on time, no missed payments.

Get a credit card if you really must and buy a few items then pay after statement date but before due date "in full".



It seams I didn't realise how much damage wonga would do even without me making late payments! I am not 100% sure I am on the electrol roll as my husband a soldier we recently moved here however I will be getting the paperwork to do so now it seam's I have some credit repairing to do even though I've not missed any payments grrr

DevCoder

No you don't have any credit repairing to do other than keep repayments on time, thats the point, the credit score is worthless as Experian and other CRA do not lend money, lenders do.

Just don't take out anymore PDL so it doesn't appear like you're desperate for money.

Just check credit files (both you and your partner as if you hold a joint account, or are on a joint mortgage etc then your "files" are linked to each other) and if it's all green and paid on time then happy days.

mummy_jonno

Well my actual score is currently red down from amber due to this being added too it although it states from my bank and wonga that my payments (or none of yet) they are satisfied with yet it still dropped by a good 150 points. Oh well what you say make's sense I am sure it'll be fine in the end. Just seeing it make me freak out thinking I'd seriously damaged it

Wutang_2

mummy_jonno wrote: »

Well my actual score is currently red down from amber due to this being added too it although it states from my bank and wonga that my payments (or none of yet) they are satisfied with yet it still dropped by a good 150 points. Oh well what you say make's sense I am sure it'll be fine in the end. Just seeing it make me freak out thinking I'd seriously damaged it

You really need not 'freak out' at a number or a colour...

As mentioned, get a credit card and pay it every month (there are many other ways to show credit-worthiness). If it makes you feel any better, your credit is bright blue and I would give a score of 3,999,999,999,423.