Credit report confusion and new credit card

Kms

Hi all,

Having been monitoring my credit report with experian for a few months now, i'v had consistant ratings of around 987 (excellent)
i know creditors dont use credit scoring.

on my experian file there are no records of defaulted accounts, yet when i applied for my statutory report end of last year it had all my defaults listed (currently being paid off)

Start of the year i applied for a capital one, vanquis, aqua and virgin money credit card, most with 35-40% rate! and was declined!!

the interest rate wasnt an issue as i had planned to repay card in full each month.

to my suprise, i applied, and was accepted, and currently in possession of a halifax credit card with a £2500 limit and 0% introductory rate!

How has this happened?

i know the credit score isnt taken into account, but is this score just a general reflection of my active accounts and not my defaulted accounts?

i'v searched high and low on the experian user area age and cannot find, for the life of me any of my defaulted accounts!

Kris

moatmeister

Just goes to show what a joke the credit file system is. And these people control our lives................

Gromitt

Do you have any other products from Halifax?

I requested a Halifax credit card but was refused, but got one Tesco and MBNA instantly online.

pvt

Kms wrote: »

i'v had consistant ratings of around 987 (excellent)

I recently had a CRA product that also gave me free access to this mystical "credit rating". And it was 999 (excellent).

I'm furious! I've never done anything that would impune my creditworthiness. I want to know why it isn't 1,000!

Kms

nope, no other product from halifax!! i'v emailed experian to see if they can shed any light on the issue of my missing accounts...

jen245

How old are the defaults,? They automatically drop off 6 years from the default date

camuk81

Don't forget not everyone reports to experian, try getting your £2 report from equifax and call credit

Kms

was subscribed to callcredit and nothing and i had got my equifax stat report last year... same as my experian stat report in december these all showed up.

4 out of the 6 are less than 6 years old..

DavidDebt

My experian credit score is 25,000,000/1000 and I always get declined for CCs and loans? Why?!?!?!?

/joke

Once and for all can everyone please stop saying "I have a good/excellent" credit score. These numbers are conpletely meaningless.

Please do the sensible thing and not sign up for these stupidly priced report/score combinations.

Get your statutory credit report from experian and equifax for £2 each and use noddle for your Call Credit report.

Back to the OP now my rant is over :A

Other things the lender will/may take into account:

Previous history they have with you (if relevant)
Available Credit to Salary/Income Ratio.
Used credit to available credit ratio.

Cheers,

David

DavidDebt

If applying for any new credit I would check all 3. While most lender may only check with 1 of the CRAs they mostly report to all 3.

Statutory Credit reports plus Noddle = win

I just wish you could get instant online access(if identity checks pass) from experian like you can with Equifax / Call Credit rather than waiting 5 days or so!

Are you listening Experian?!?! :mad:

Kms

DavidDebt wrote: »

My experian credit score is 25,000,000/1000 and I always get declined for CCs and loans? Why?!?!?!?

/joke

Once and for all can everyone please stop saying "I have a good/excellent" credit score. These numbers are conpletely meaningless.

Please do the sensible thing and not sign up for these stupidly priced report/score combinations.

Get your statutory credit report from experian and equifax for £2 each and use noddle for your Call Credit report.

Back to the OP now my rant is over :A

Other things the lender will/may take into account:

Previous history they have with you (if relevant)
Available Credit to Salary/Income Ratio.
Used credit to available credit ratio.

Cheers,

David

HAHAHA

Thanks, David!

i know lenders do not use this "Score" to decide to lend, or not to lend!

The fact is, i have small amount of credit (overdraft), my credit file is plastered with defaults (which i'm currently paying off) and i have not been successful in getting cards from all the expensive lenders (aqua / capital one / Vanquis etc) yet halifax have thrown a decent rate card at me with a good limit!

people must come onto this board to let off steam! there are a few genuine helpful people but loads that jump on the bandwagon and slate everything you say, but avoid the original question!!