Noddle Credit Rating 1/5!?

yamsteroo

I don't think you can take the scores at all seriously.


I've just finished a 4yr DMP - 2 x Defaults and 3 x AP marker accounts and no available lines of credit (I've closed down my accounts as I've paid them up) which gives me a score of 3/5 apparently.


I'm not bothered as I don't intend to use credit again but it's just bizarre how it comes up with the score.

lanac3

My Noddle score has been 1/5 since I registered over a year ago. I am on the electoral roll, all accounts are up to date, no late payments in the past 2 years. Despite my Noddle score being so low I managed to get car finance through Barclays with one of the lowest interest rates on the market. I really wouldn't pay any attention to the score.

The_Boss

lanac3 wrote: »

My Noddle score has been 1/5 since I registered over a year ago. I am on the electoral roll, all accounts are up to date, no late payments in the past 2 years. Despite my Noddle score being so low I managed to get car finance through Barclays with one of the lowest interest rates on the market. I really wouldn't pay any attention to the score.

Yea, the "score" is totally meaningless. Some people on here have reported excellent or perfect CRA "scores" with defaults and ccjs on file. "Scores" dont take into account your salary, which is a key driver in determining whether to lend to you.

But bear in mind that car finance is easier to obtain as it is secured against the car. Late payments also can be taken into account by lenders over a greater period of time than 2 years.