Credit score bands.

katiejones1

I apologise if i have posted this in the wrong place.

I am trying to find out what the particular credit score bands are for Experian.

In July last year, my score was 426, VERY POOR it said

It is now 867 on a scale of 1 - 1000 but says FAIR


So what is GOOD then! and i hate to think what EXCELLENT may be.

Any advice greatly appreciated.

YorkshireBoy

katiejones1 wrote: »

Any advice greatly appreciated.

Stop wasting your money on meaningless and worthless credit scores from the CRA's!!

katiejones1

Gee thanks, dont suppose you could have just answered the question lol, You say worthless, i dont agree. It at least gives me an indication that im going in the right direction, i dont care what anyone says, i am more likely to be accepted for something with a score of 867 than i was when my score was 426.

Anyone know the bands?

:A

tom188

Why do you need this to show you are going in the right direction?

Making regular payments = score improving.
Paying late and going into arrears = score detracting.

These scores are merely a cynical instrument from the CRAs to extract money from the insecure. The information they provide is the same as you can find on a credit card statement "payment received" --> score goes up, "late payment fee" --> score goes down. The process is not rocked science.

katiejones1

well f**k me, you two are a couple of sniping ******* arent you, so basically there tom you are saying i am insecure and i am thick. Thanks for your valuable input you fool.

I asked a simple question and if you cant be bothered to answer it then dont f in post. YES YOU HAVE MADE ME A LITTLE ANNOYED..... CAN YOU TELL.

tom188

When posting on a public site one must expect the opinions of others, regardless if they are what one wants to hear. This is a money saving site. Both myself and YB have given some money saving advice. If you chose to ignore it then that prerogative but I would suggest that you would be a little more polite in future if you would like information.

Why dont you ring experian if you just want the answer to your question?

stacey21_2

Hi Katie -

I am not sure of the bands but I think the different companies use different rating systems to 'score' you.

To the other people who have posted, perhaps Katie got a free trial of her score to view it online. And even if not, who are you to say she can't spend her money viewing her score?

To some a credit score may be worthless, but to others it's the difference between getting a mortgage and not getting one, between getting a credit card to reduce interest rates from 22% to 0% or not, etc etc. I assume those who simply 'do not care' about their credit rating have enough money to pay their way out of it.

Good luck to you Katie in rebuilding your credit score, they seem to be damaged so easily!

thesaint

stacey21 wrote: »

Hi Katie -

I am not sure of the bands but I think the different companies use different rating systems to 'score' you.

To the other people who have posted, perhaps Katie got a free trial of her score to view it online. And even if not, who are you to say she can't spend her money viewing her score?

To some a credit score may be worthless, but to others it's the difference between getting a mortgage and not getting one, between getting a credit card to reduce interest rates from 22% to 0% or not, etc etc. I assume those who simply 'do not care' about their credit rating have enough money to pay their way out of it.

Good luck to you Katie in rebuilding your credit score, they seem to be damaged so easily!

You can only get the free trial once, so with that assumption, the OP is paying for this service. Saying that, of course the OP is free to spend his/her money on whatever they like, but as said before, they're on a moneysaving website, so it would be irresponsible to ignore wasting money on this service.

Youy state that the score would mean the difference to getting a mortgage or not, which lender will give you a mortgage with a 'good' rating as opposed to a 'fair' one? Or which card company takes account of your 'score' to decide what % rate of your card?

There are dozens of providers to choose from, I will accept your point if you can tell me one.

stacey21_2

I did not mention one thing about a mortgage lender lending on a 'good' rating as opposed to a 'fair' one.

To quote: To some a credit score may be worthless, but to others it's the difference between getting a mortgage and not getting one, between getting a credit card to reduce interest rates from 22% to 0% or not.

What I meant by that was that if someone was looking to get a mortgage it would be useful for them to have a good credit score. If someone has a credit card which is starting to charge interest after the 0% has expired, they may want to get a new one, to avoid paying the high interest. Therefore, without a good credit score, how could they change to a 0%?

My post clearly was not read properly before you answered it so hopefully that has cleared it up.

tom188

It may also be worth asking whether the OP is under the misapprehension that these scores are actually used by lenders in some way.

xgingerx

Equifax is as follows:

0 299 Very poor
300 349 Poor
350 399 Fair
400 474 Good
475 750 Excellent

Experian is as follows:

0 560 Very poor
561 720 Poor
721 880 Fair
881 960 Good
961 1000 Excellent

This is answers your quesation !!!! lol

ps: I have confirmed this with both agencys.