Credit score bands.

MABLE

thesaint wrote: »

Are you allowed to tell us?

As a customer yes but as an employee possibly no.

thesaint

MABLE wrote: »

As a customer yes but as an employee possibly no.

Sorry, you've lost me somewhere.

Are you saying that you are an employee, but can not tell me the method Barclays uses, or that you are a customer and know that Barclays use your credit score as opposed to your credit report to make their decisions?

Spendi

Well i can confirm that banks do take notice of credit scores and yes they can come in useful.

My credit score wasnt so good as i checked, i cleared everything i could off it to make it as nice and clean as i could and applied for a new credit card. It got declined. As i knew my credit score was good i wrote to the lender asking why i had been declined as i knew my file was ok and included a copy of my score.

Result one nice new credit card with a lower interest rate.

I'm not saying that they actually took notice of the score but i knew because of my score i could get better credit, and as i sent in my score they knew it too.

exel1966

Every financial institution you want credit form will look at your overall ability to pay your debt based on their own critera.
When the term 'SCORE' is used it is NOT a 3 digit (fictitious) number, but merely terminology determined by many factors.

pitbullpeebs

Some interesting points on here, i have joined Experian in the past to see my file but they wanted another £4.99 to see my actual credit score but if it's just there opinion then i shall not bother!!

thesaint

Spendi wrote: »

Well i can confirm that banks do take notice of credit scores and yes they can come in useful.

My credit score wasnt so good as i checked, i cleared everything i could off it to make it as nice and clean as i could and applied for a new credit card. It got declined. As i knew my credit score was good i wrote to the lender asking why i had been declined as i knew my file was ok and included a copy of my score.

Result one nice new credit card with a lower interest rate.

I'm not saying that they actually took notice of the score but i knew because of my score i could get better credit, and as i sent in my score they knew it too.

Spendi,
Are you mixing up your credit 'score' with your credit 'file'?
They are two different things. A 'score' is a fictious number made up to relieve us of our money, a 'file' is factual information that can be questioned and analysed.

Spendi

Nope i got both online yes i did pay the extra for it !!

I had a yacky credit score when i started but after it was cleaned i got a new score which put me in the very good section, i then asked my two credit cards to lower the rates, Natwest said no and i couldnt get them to budge but the other lender, after sending in my score ( not my file ) agreed to give me a new card with a lower apr and a free BT to it.

Without my score i wouldnt have had the courage to query the decision when i asked for a lower interest rate, and with the proof of my score they gave it to me.

I personally saved more in interest than the two scores cost me, in one month alone so im happy

thesaint

Spendi wrote: »

Nope i got both online yes i did pay the extra for it !!

I had a yacky credit score when i started but after it was cleaned i got a new score which put me in the very good section, i then asked my two credit cards to lower the rates, Natwest said no and i couldnt get them to budge but the other lender, after sending in my score ( not my file ) agreed to give me a new card with a lower apr and a free BT to it.

Without my score i wouldnt have had the courage to query the decision when i asked for a lower interest rate, and with the proof of my score they gave it to me.

I personally saved more in interest than the two scores cost me, in one month alone so im happy

To be fair, it does appear that sending in your 'score' helped on this occassion, but if you wrote in and didn't include your 'score' and instead included a well reasoned explanation as to why they should reconsider, you would've got a similar response I would argue.

Your 'score' did give you confidence, but as said before, they are simply making people feel good about themselves which isn't a bad thing I suppose, but they are marketed different to this.

xgingerx

MABLE wrote: »

Despite of what posters say I know for a fact that Barclaycard do take notice of the score from Equifax.

Hi, do you mean then that they actaully take the score from Equifax when applying for a loan with Barclaycard ????

xgingerx

By the Way, can u beleive Equifax are now charging £16.95 for the score as opposed to Experian's £4.99

£5 ok, not a big deal but £16.95 for nothing.

What a rip off !!!