Good report........Bad report?

lister11

I don't get this.....anyone care to take a moment and help clarify my ignorance.

So, Credit expert list my scoreas999 (i understand this is worth zip). They also list my only credit asmy Mobile contract which is paid on time in full every month for years.

And that is it. Not one thing more. I've an overdraft (which i'm always in). A student loan. I recently (within 5 months) paid off a finance deal for £700 (in full with no issues) and a pay day loan 2 months ago (again in full).Plus, a new last month, credit card with an £800 limit thati 'm £170into but will pay in full.

None listed. it shows this.... Here's a summary of your most up to date credit report. Check it and your score regularly to keep updated on the status of your credit.
Number of credit accounts (including those settled)1
Amount of availablecredit (excluding mortgages) £0
% of your total credit being used (excluding mortgages) 0
% Amount of outstanding debt (excluding mortgages)£0
Number of accounts overdue 0
Number of missed or late repayments In the last year 0

Then, I go too Noddle and sign up for free. It lists me as a bad lending risk. It does however list my finance deal, phone and pay day loan all paid in full. It also lists a default (paid in full in 2007) that was defaulted on 31/12/2006 so should be about to disappear this december (right?).

So, why does noddle, a freebe attached to the 3rd company in the list, appear to be more accurate than the big dog and why was i denied a finiance option of £1000 a few months ago.

Coincidently, all the searches (10) i have are from car insurance search engines and 1 pay day loan. I'm registered on the electoral roll at my address and in full time employment.

It would appear that on the surface i'm prime for a loan....but apparently not!

happy_bunny_2

Pay day lenders do not always report to all 3 CRAs.

Maybe student loans don't appear on credit files?

Overdrafts usually do appear. Is it a student account? Not sure if that would make a difference.

Worth checking equifax also as some lenders report there rather than experian credit expert.

lister11

Cheers,

I think it maybe still registered as a student account. I'll sort that out.

Interesting that credit expert and noddle are so easy to use and Equifax want me to send them loads of info in the post before letting me have a £2 report.

I'm not sure it is worth the hassle as everything negative from the others drops of in Dec.......should be golden then!

Coincides nicely with reaching zero on the overdraft and leaving only student loans of £6000.

Happy days

rosiesposies

student loans from the SLC are NOT registered on any CRA. perhaps why so many people make minimum payments and drag it out for years on end.

green_gables

lister11 wrote: »

I don't get this.....anyone care to take a moment and help clarify my ignorance.

So, Credit expert list my scoreas999 (i understand this is worth zip). They also list my only credit asmy Mobile contract which is paid on time in full every month for years.

And that is it. Not one thing more. I've an overdraft (which i'm always in). A student loan. I recently (within 5 months) paid off a finance deal for £700 (in full with no issues) and a pay day loan 2 months ago (again in full).Plus, a new last month, credit card with an £800 limit thati 'm £170into but will pay in full.

None listed. it shows this.... Here's a summary of your most up to date credit report. Check it and your score regularly to keep updated on the status of your credit.
Number of credit accounts (including those settled)1
Amount of availablecredit (excluding mortgages) £0
% of your total credit being used (excluding mortgages) 0
% Amount of outstanding debt (excluding mortgages)£0
Number of accounts overdue 0
Number of missed or late repayments In the last year 0

Then, I go too Noddle and sign up for free. It lists me as a bad lending risk. It does however list my finance deal, phone and pay day loan all paid in full. It also lists a default (paid in full in 2007) that was defaulted on 31/12/2006 so should be about to disappear this december (right?).

So, why does noddle, a freebe attached to the 3rd company in the list, appear to be more accurate than the big dog and why was i denied a finiance option of £1000 a few months ago.

Coincidently, all the searches (10) i have are from car insurance search engines and 1 pay day loan. I'm registered on the electoral roll at my address and in full time employment.

It would appear that on the surface i'm prime for a loan....but apparently not!

i have been trying for years to improve my credit score, paying off debts bit by bit, getting rid of all credit cards, working only in cash and taking on no new debt. i have been loyal to the same car insurance company but decided to take the brave step to shop around and went on a well known comparison site for a new price. big mistake. my credit rating has now gone from excellent to fair after they did insurance quotes and my hard work has been scuppered. i'm raging, sore, disappointed and will never ask for a new quote again

lifebeginstoday

green_gables wrote: »

i have been trying for years to improve my credit score, paying off debts bit by bit, getting rid of all credit cards, working only in cash and taking on no new debt. i have been loyal to the same car insurance company but decided to take the brave step to shop around and went on a well known comparison site for a new price. big mistake. my credit rating has now gone from excellent to fair after they did insurance quotes and my hard work has been scuppered. i'm raging, sore, disappointed and will never ask for a new quote again

Insurance quotations won't affect your ability to obtain credit, they MAY lower that agencies 'score' but lenders don't see that or take into account insurance searches, they only look at credit aplications:cheesy:

forgotmyname

You can do experian and equifax over the net. Upload copes of the documents they ask for.

Robots on the phone though. Step one we need ID driving licence or passport. they didnt have either.
Step 2.
Stop what about step one. They dont have either of those.
Step 2.

Terrible...

[Deleted User]

green_gables wrote: »

i have been trying for years to improve my credit score, paying off debts bit by bit, getting rid of all credit cards, working only in cash and taking on no new debt.

You're going the wrong way about it. This is like someone who refuses to get in the water applying to be a lifeguard.

You need to show that you can handle credit responsibly.

pheonixrising21

green_gables wrote: »

i have been trying for years to improve my credit score, paying off debts bit by bit, getting rid of all credit cards, working only in cash and taking on no new debt. i have been loyal to the same car insurance company but decided to take the brave step to shop around and went on a well known comparison site for a new price. big mistake. my credit rating has now gone from excellent to fair after they did insurance quotes and my hard work has been scuppered. i'm raging, sore, disappointed and will never ask for a new quote again

Then I hope you enjoy paying over the odds for your insurance! I don't think I have ever had a renewal quote that was the cheapest. And more often than not, the renewal was beaten by applying as a new customer to the same company (as well as other companies too)!

I don't think that lenders take into account insurance searches/applications, unless you take out the policy on a monthly DD basis, where this may form a credit agreement?

green_gables

thank you to everybody who replied and ticked me off! here's me thinking i was good for not having loadsa debt. my score dropped from 981 to 880 by using the comparison website. and as for paying high ins for being loyal i am no longer loyal, my payment is now 120 quid lower than my renewal quote and i got this from axa whose search isnt even on my report!!! as for being a lifeguard, does it surprise you zx81 that i would love to learn to swim but am afraid of water??? wee steps at a time. thanks for your advice everyone

BugsyBrowne

green_gables wrote: »

thank you to everybody who replied and ticked me off! here's me thinking i was good for not having loadsa debt. my score dropped from 981 to 880 by using the comparison website. and as for paying high ins for being loyal i am no longer loyal, my payment is now 120 quid lower than my renewal quote and i got this from axa whose search isnt even on my report!!! as for being a lifeguard, does it surprise you zx81 that i would love to learn to swim but am afraid of water??? wee steps at a time. thanks for your advice everyone

Forget about your silly score its whats on your credit files that's important.

A debt could be anything from paying off a credit card even if in full each month or making the minimum payment,so the more history you have of doing this the lower the risk.