Anyone with a low Experian credit score ever gotten a loan

jayce777

Hi,

I've seen a lot of people say they have 999 Experian scores but get rejected for loans based on obvious things like debt to income ratio.

My question is has the reverse ever happened. Has anyone with a poor score ever got approved despite it because the factors which made their score low might not be so bad.

[Deleted User]

You can have a low score and still get credit, and have a high score and be the most undesirable borrower going. The score is irrelevant - each lender looks at your report and decisde whether they will take a risk on you.

An internal score, on the other hand, will have a lot more meaning, because it will reflect what that lender is looking for. Rather than the Experian 'Credit-score- o' generator' which doesn't particularly reflect your likelihood to get credit.

OneLife_OneShot

I'm wondering if its even worth it to pay Credit Agencies for a statutory report anymore.

Tixy

conisme wrote: »

I'm wondering if its even worth it to pay Credit Agencies for a statutory report anymore.

Its generally considered a good idea to get copies of your statutory reports periodically or before you apply for significant credit.
There are lots of cases of errors on them e.g other people's debts being incorrectly linked to people / the report not showing correct electoral roll information etc. If you don't check your report you won't know about these errors.

And its a useful check to ensure nobody has applied for credit in your name fraudulently.

And whilst you can check 1 of the agencies for free - to get a true picture you really need to check all 3 files - errors could easily only appear on 1 or 2 of the agencies.

jayce777

yeah I coughed up £15 today to see my experian (had the free trial already a while ago), was desperate to see it. knew it be bad.

I spoke to two different NBS workers on two different days each had varying enthusiasm as to how much the scores affect me. One thought the fact I'd had a successful loan previously and current ISA savings with them would definitely be good and the other not so much.

OneLife_OneShot

I get a report each month from Equifax and Experian for a total of £4 I know I can't get credit because of my own previous fault. But like you said the only reason I do it is to keep a permanent record of it for myself incase I need it.

CLAPTON

jayce777 wrote: »

yeah I coughed up £15 today to see my experian (had the free trial already a while ago), was desperate to see it. knew it be bad.

I spoke to two different NBS workers on two different days each had varying enthusiasm as to how much the scores affect me. One thought the fact I'd had a successful loan previously and current ISA savings with them would definitely be good and the other not so much.

statutory report is only £2.

Robisere

It is some time ago (possibly 8 years) but we found that my wife had a bad score and was denied a change of Bank account. Checked with Experian, turned out to be from a purchase made with a BHS Card, when GE Capital Bank operated the Card. (Believe BHS changed that, but we still will not EVER have another Store Card!) The purchase had been paid off shortly before we moved home to a neighbouring County. This appeared to have caused the problem, but it took almost 11 months to correct it. Experian charged us £2 and it was the best £2 we ever spent.

sumo22

ROBISERE- i have the same problem to start of with im trying to get credit but can not as my credit score is about 450 so not good but as im trying to make it better i found a CCJ on my account anyway longstory short i made a few calls and it was GE capital who put it on there but as i have had no store cards in my life they must have made a mistake as the only store card me and the wife have ever had was with toys r us years ago but that was in her name so i hope they will take the CCJ of my account

anyway is there anyway that i can get some decent credit like a loan, credit card, store loan etc or is there a quick way of getting my report better?