Credit Expert recommendations - how reliable are these?

Golden_Anemone

I applied for a loan online today and was declined. I then signed up to a Credit Expert trial to get my experian report. My rating is good - 936 - but there were 2 late payments recorded against a card in the last year - stupid oversights on small payments that were quickly remedied.

Credit Expert has suggested a lender that "matches my profile". How reliable is their recommendation? I don't want another unsuccessful application recorded on my file but I have some urgent household repairs that I haven't budgeted for and need a loan to cover.

Thanks

Hazzinho

Not overly reliable as they don't know your debt to salary ratio. If your debt is less than 50% of your salary and your on the electoral roll then the recommendations might be ok. If the only negative is 2 missed payments then you should be ok. To many credit applications in a sort space of time will effect you. Your best bet for a loan is your bank.

opinions4u

It's in their interest to match as many people to loans as possible.

As they earn a commission based on completed loan applications.

How successful they are, I don't know. Throw lots of stuff at a wall and some of it will stick.

Ditch Credit Expert and save your monthly fee.

Golden_Anemone

Thanks, current debt to salary ratio is approx 35% and I tick all the other positive boxes like on the electoral roll, at current address more than 7 years, more than 20 years with my bank and my employer.

Golden_Anemone

opinions4u wrote: »

Ditch Credit Expert and save your monthly fee.

I joined up for the free trial to see my credit report - I will be cancelling it after 20 of the 30 days have elapsed so I get my £5 Quidco cashback.

Hazzinho

Remember the debt will include the amount of the loan you request, any loan amount that makes your total debt over 50% salary makes you a risk so that 15% is the realistic amount you can borrow.

Golden_Anemone

Tghanks Hazzhino. Just got a phone call from a company called Freedom Finance who knew I had been turned down by Sainsburys and offering to find me a loan. Is this practice legal? I did not give permission for my information to be passed on to anyone else. :mad:

BugsyBrowne

You got a 936 so called credit score which states you have good credit rating with experian yet you have 2 late payments, now how would you think a lender would see this 'do you honestly think they would rate a potential Customer with 2 late payments as good well the answer is no they wouldn't they would see you as a high risk.

KingElvis

The service is appaling and it's shocking when they use it to put the guttersnipes and sharks onto people.

The company should be ashamed.

Golden_Anemone

@BugsyBrowne. Your response bears absolutely no relation to my original question so I can only hope it made you feel superior. Otherwise it will have served no useful purpose at all as well as being totally devoid of grammar. :rotfl:

27col

Bugsy seems to have misplaced his full stop key.