checkmyfile

umist

I recently did a credit check on the checkmyfile website.

According to that site the data seen by eqifax is 650 while the data seen by landlords/employers is 730.

The application on its whole is 670.

Are these scores ok? Also, are theses scores ok to apply to open bank accounts/credit cards?

And how good is the checkmyfile website?

thanks for the help.

BugsyBrowne

Little Tip take no notice of that silly score checkmyfile gave you as its worthless.

AppleMatt

Afraid these scores are very, very misleading.

They mean nothing at all. Each lender takes all your information and makes their own score, their own decisions.

Your best bet is either go direct to Equifax.co.uk or CreditExpert.co.uk and look at your records (ignore "scores"). You can also order a paper version for £2.

umist

are the reports they have on me accurate?

they have listed all my cards i have used and cancelled? Are the all accurate?

the reason i ask this is beause I am overseas and have lost access to my on-line banking services

umist

Silky89 wrote: »

Only you can answer that I'm afraid

hmm well from what i can tell it seems accurate. I had difficulties paying 2 payments which have all appeared on that file. So i guess it is accurate. Still would like to confirm from others lol.

umist

Silky89 wrote: »

How long ago where these payments missed?

1 year + :S. I was overseas and completely forgot about it. I did call my bank at one point and they have no records of my ever holding a credit card so i left it.

Anyways, I have paid off 1 completely and will pay the other in the next few days.

btw if ur credit card gets defaulted will the extra charges stop? Asking this because according to checkmyfile they have.

I mean I have need to pay 800 quid on my credit card. It got defaulted a year back when the amount to be paid was 800. Now clearly if u do not pay money towards the credit card then the amount should increase. According to checkmycredit these extra charges stopped after my bank defaulted my card. My debit card with that bank has never had any problems.

other then the problems above I have never had any other difficulties.

CrispieS

surely the scores must mean something, the companies making credit checks against clients will be doing it automatically rather than a human manually checking each - granted each will have their own system/way of scoring, but surely the checkmyfile will be a ballpark figure (but suppose it needs context of good & bad)

Gromitt

CrispieS wrote: »

surely the checkmyfile will be a ballpark figure (but suppose it needs context of good & bad)

There's people on here that can't get any credit, but have a score of > 900, then there are others that get refused credit with a score of 999.

So I'd say no, it's not a ballpark figure, it just goes on data received. Eg. a missed payment reduces your score by X for example. Each lender will have their own technique. Some may even reject if your credit is too good (not fitting their requirements).

MattLFC

Gromitt wrote: »

There's people on here that can't get any credit, but have a score of > 900, then there are others that get refused credit with a score of 999.

So I'd say no, it's not a ballpark figure, it just goes on data received. Eg. a missed payment reduces your score by X for example. Each lender will have their own technique. Some may even reject if your credit is too good (not fitting their requirements).

Agreed.

Also, if I'm going to lend someone £10k of my hard earned, I'm going to want to know one basic thing, first and foremost... do they work, and do they earn enough to pay it back in the agreed timeframe?

None of this information is held by credit agencies, hence why some long-term unemployed people have scores in the 900's...

umist

MattLFC wrote: »

Agreed.

Also, if I'm going to lend someone £10k of my hard earned, I'm going to want to know one basic thing, first and foremost... do they work, and do they earn enough to pay it back in the agreed timeframe?

None of this information is held by credit agencies, hence why some long-term unemployed people have scores in the 900's...

So in short say if one guy is unemployed and has taken a loan of 100 quid. He makes sure he pays the money on time. Then there is another person who earns 100k a year and has a loan for 20k but is too disorganized to pay it on time. he either always forgets it or just does not care. He does pay but it is always late.

So according to the credit agencies the first person will score better?

BugsyBrowne

umist wrote: »

So in short say if one guy is unemployed and has taken a loan of 100 quid. He makes sure he pays the money on time. Then there is another person who earns 100k a year and has a loan for 20k but is too disorganized to pay it on time. he either always forgets it or just does not care. He does pay but it is always late.

So according to the credit agencies the first person will score better?

You can be on benefits and just been discharged bankrupt and still get an excellent score from the main 2 CRA's the biggest culprit being Experian as they don't see declared BR as a negative nor do they use your income.