Experian Credit Score: What score do you need for "Excellent"?

fozmcfc

jon142 wrote: »

No Probs. i found it a while ago.

I wouldn't agree with the above comments about scores being useless.

If it gives you something to aim towards and helps as information is removed etc. its worth it. however banks don't use these scores they have there own varients.

Someone recently posted on these board with bankruptcy on their file and said Experian showed them as having an excellent credit rating/score and you think the scores aren't useless. :rotfl:

Just do a search on these forums for people with 999 scores, who can't get credit.

jon142

fozmcfc wrote: »

Someone recently posted on these board with bankruptcy on their file and said Experian showed them as having an excellent credit rating/score and you think the scores aren't useless. :rotfl:

Just do a search on these forums for people with 999 scores, who can't get credit.

I'm not saying expeians system is perfect. but if someone has something they can work towards, something they are feeling they are doing right its worth it.

Credit seems to have major secrecy around it, and i have no idea why.

Whats going to happen if i know HSBCs lending critera? nothing.

So why hide it? it gives some people something to work towards.

The whole system will fail soon and we'll get a new one just a matter of time.

PollyOnAMission

chattychappy wrote: »

I don't think aiming for a good credit score is worthwhile.

Better to get a sense of satisfaction from:
1) reducing your overall debt
2) reducing the average APR for the debt you do have
3) increasing your payments as a proportion of your remaining debt (and of course never missing payments).

Money spent on credit scores can be used to help 1) and 3) above. I do think it is worth checking your report from time to time to look out for errors/identity fraud etc. But it seems to me that scores can go up and down so much that they are not really reliable. Plenty of threads where people got 999 and refused credit. The score is calculated from the data in your report - so it doesn't really add anything new if you have the report. The score a lender gives you will be based on this (or from another CRA), the data you put on the form and any other info they have to hand (eg if you bank with them).

1) I'm on this mission, big time.
2) All my debt (excluding mortgage/student loan) is at 0% and will be paid off before the 0% ends.
3) Also doing

so I do agree that those are the things to aim for. I'm not "aiming" for a higher credit score (although it can't be a bad thing if it is a consequence of achieving 1, 2 and 3 above), just curious I certainly won't be paying £14.99 per month after the free trial ends!

blacksta

you need a score of at least 1500

jon142

Also a similar things is...

Why Aim for 100 in your degree? 70.1% will do for a first why " bother " aiming higher?

These " scores " mean nothing. someone with 99.9 or 70.1% fit under the same umbrella. the harder you work at it the easier things are.

I'm fed up of hearing scores are usless. someone with a credit score of 0 will be in a worst position to someone who is 999 that is FACT. some anomilies may occur granted.

BugsyBrowne

jon142 wrote: »

Also a similar things is...

Why Aim for 100 in your degree? 70.1% will do for a first why " bother " aiming higher?

These " scores " mean nothing. someone with 99.9 or 70.1% fit under the same umbrella. the harder you work at it the easier things are.

I'm fed up of hearing scores are usless. someone with a credit score of 0 will be in a worst position to someone who is 999 that is FACT. some anomilies may occur granted.

Can you explain why bankrupts are the highest risk applicants Yet experian class these as a low risk therefore experian giving them an excellent score.

jon142

I'm sure it's one of 2 things;

1) The person is full of it making up a lie because they have nothing else to do (certainly got no credit) We all know anyone with bankruptcy won't be touched for many years to come, or for some reason the Experian system isn't picking up the Bankrupt order, hence everything else is 999 apart from the BO.

2) Experians system isn't perfect. no computer system is. why does HMRC send you a letter at the end of the year saying you own them XXX when didnt they catch it earlier?

ILW

jon142 wrote: »

Also a similar things is...

Why Aim for 100 in your degree? 70.1% will do for a first why " bother " aiming higher?

These " scores " mean nothing. someone with 99.9 or 70.1% fit under the same umbrella. the harder you work at it the easier things are.

I'm fed up of hearing scores are usless. someone with a credit score of 0 will be in a worst position to someone who is 999 that is FACT. some anomilies may occur granted.

You obviously do not understand.

Just paying for a credit score shows you are not great with money.

BugsyBrowne

jon142 wrote: »

I'm sure it's one of 2 things;

1) The person is full of it making up a lie because they have nothing else to do (certainly got no credit) We all know anyone with bankruptcy won't be touched for many years to come, or for some reason the Experian system isn't picking up the Bankrupt order, hence everything else is 999 apart from the BO.

2) Experians system isn't perfect. no computer system is. why does HMRC send you a letter at the end of the year saying you own them XXX when didnt they catch it earlier?

You really haven't got a clue Jon and any more responses to you is a waste of time as clearly you have been Very taking in with experians credit score nonsense!!

chanz4

If you really want this / experian reports sign up for rbs/ natwests silver account and its £8 a month it also gives scores, and hmv dowloads and lot more for your cash
Identity Theft Assistance
Based on Experian Credit Report monitoring (£95.88) and CPP Helpline and advice service (£20). (February 2012).