CREDIT SCORES/HOW much does they rise each month?

Gordon_Hose

Experian give a customer a 999 credit score.

Based on that score the customer applies for a loan.

The bank decline.

It's happened. And it leaves people with recorded searches on their credit file, so the next time they check they've got a score of 800!!

The scoring system provided by any of the CRA's is a joke. And to charge for it is plain disgusting.

samtoby

Experian_company_representative wrote: »

That is unfair. The scores we offer people summarise their credit data based on the scoring systems we build for lenders. To say they are meaningless is disingenuous. We make it clear what these scores are and what they aren't. Lenders' scores take account of more data than the scores we can provide to the public, but that does not make them useless. People have been asking us for years and years to help them understnad what their credit data means via a score and this is what we have developed. Many people find them a useful guide. They are only a guide, they are not definitive and I think the majority of people get this and many do find them helpful - a barometer if you like.

James Jones

I do not agree with this at all. My credit score is very low on your CR for me.

But saying this; I have had no problems obtaining any credit since I paid all my debts off end of last year (It has taken a very long time)

I have a satisfied CCJ from a Court Case (My sons father) and also I have 18 defaults. Yes 18 (16 drop off in the next 3 months yay!)

I have a phone contract which has been running a year, bank account, credit card and a Very account. All of these are new in the last year since everything has been cleared and although my score has not moved at all; I must have something for persons to lend me anything!

It is all a gradual process and I understand that credit reports are an untimate tool in repairing your credit; but the score is not in my opinion. My score does not reflect that I am using my credit wisely and in no debt anymore. Maybe when the defaults start dropping; maybe my score will go up?!

For example my ex has an IVA and his credit score is 982 but if you saw his credit report you would not lend him a penny!

redpete

ANTWAR72 wrote: »

Could somebody please let me know how much your credit score rises each month if all credit accounts are run in good order?

What's your real question? Is it something like "When am I likely to be offered a loan of £Nk."

Your score from a CRA won't really help you answer this - a lender's decision will depend on some information the CRA doesn't have (e.g. your income) as well as the info they do, and the lender might well use the data from the CRA in a different way than the way it contributes to the CRA score.

There won't be a simple answer to your actual question either. The algorithm used to calculate the score will give different weights to different bits of info and how one piece of data contributes will be related to other data in a complex manner.

BugsyBrowne

As samtoby as said Her Ex has a shocking credit history including an IVA yet experian gives him an excellent credit score it's ridiculous and you Mr James jones cannot possibly justify this.

You keep saying James jones that the scores are Just an indication and not by any means how a lender would see it well if this is the case sack the scores and find a better system that doesn't ruin people's credit files believing with their great scores then most credit products are available to them.

Experian are excellent for statuary reports granted but for scores it's nothing better then the payday lenders out there either way they are ripping their customers off.

angelbob

well i've just had a default drop of my file, and my score went down :eek: surely it should have gone up, as it now looks better as i have no defaulted accounts of there xx so i think those scores are pointless xx

richmeud99

Well all human beings are doing any kinds of jobs to make money.
In fact we all know that money is very important thing to live or
Expenses. But on the other hand, money is to be expensed to fill up
our demands or wishes and saving is also part of it. So that in near
future what will be gone or done we don't know.

richmeud99

In coming future we need money when we get older. In shortage of strong health then we live with money. Saving money is important so in time, we deposited a little money in a bank or finance company or we can do insurance too. There may be hard or risk if we take all money so we have to save.

richmeud99

To protect and investigate we should choose those company which are reliable, durable and confidential. There may be locker services
we can consult about it with counsellors too. Therefore habit of saving money make our life protective. In any struggle, we must save some money. This type of campaign should be informed to all childrens, youth and all kind of citizens.

Gordon_Hose

lolwut????

debtcutter

reported as spam

(pretty sure there's no other reason for those 4 random outbursts)