Equifax report.....

sistafromanothermista

Well i ordered my £2 (bargain) report yesterday and it is amassed with Green blocks and quite a few S (settled accounts) looking at one though i have 2 ambers (1) going back to June and Sept 2009 for a mail order company that is now settled.
Forgive me if this is a dumb question but are the amount of 'Settled' likely to have a negative effect on my credit rating and likewise with the 2 late payments?


Thanks


(might i add..i'm not looking to get another card yet but may need one when i need a new 0% deal )

sistafromanothermista

Anyone? i have just been through the advance search and 12 pages later cannot find an answer to this one

tink_1983

Hi. I know that the Amber's with the 1 in mean a missed or late payment which will have negative effect on your score.
Also log into experian as they do free month trial & see what their report says as it will tell you the positive and negative aspects of your credit file

sistafromanothermista

Thanks Tink, i've got my experian £2 report and it doesn't really say a great deal. Do you think it will make an impact seeing as it was 2009?

tink_1983

I'm not an expert. So have a look on the
Credit sites and see advice there.
But I think credit checks look back 6yrs.

Experian has an FAQ section which I find really helpful as all this financial stuff is scary!

sistafromanothermista

Hi, thanks. It doesn't give the answer on there either! i think i'll have to do a little more google'ing....

tink_1983

If you've had cards issued in the last few yrs I'm guessing they'd have seen these Amber's? If wast an issue at time last card was applied for then hopefully won't be issue now :-)

sistafromanothermista

That's true Tink, i was just curious regarding the settled accounts really. As we have recently switched a few debts to 0% therefor clearing another card and having it marked as 'settled'
I just wondered whether this would have a negative impact really...

rb10

'Settled' is a good thing - it means the account was paid off and closed.

The two '1's on the report don't look great, but it's a fair way back now, so not likely to have a significant impact on any credit applications.

sfax

My Equifax credit agreement is amber and recently went green and then back to amber again with no explanation as to why. I asked them about it and they had no answer. In fact that they did have an answer concerning the number of settled accounts at a previous address being negative which I questioned suggesting unsettled would be an issue but settled? They replied with a generic response pointing me at the website and also said that their alert emails have been sending out alerts accidentally (I had an email but no alert on my file).

In short, ignore the amber warning. Despite being "amber", I was accepted on four different credit cards in 3 months this year. I have one late payment (a "1" from 2009)

Experian_company_representative

r!!!0 gives good advice. Settled accounts that were paid on time will help your credit score. Late payments won't, but if they are old now and more recent information is positive then they shouldn't have a significant impact.

James Jones