Experian Credit Score

UsetheFORCE

Your current Experian Credit Score 03 December 2012
283
Very Poor » Find out more » View deals based on your Experian Credit Score
What does your Experian credit score mean? Most lenders would regard this score as very high risk and would expect most people in this category to have serious problems with repaying credit.



What utter tosh, I have no problem repaying credit, what's with a sodding number!!!

MrSilk

It's all cr*p.. Ignore it

sfax

With a score that low though there should be obvious alarm bells in your credit report such as missed payments, not on electoral roll, not enough credit history yet etc. It's calculated using a simple algorithm (too simple, in fact) which will have picked up something bad to yield such a low score

BugsyBrowne

sfax wrote: »

With a score that low though there should be obvious alarm bells in your credit report such as missed payments, not on electoral roll, not enough credit history yet etc. It's calculated using a simple algorithm (too simple, in fact) which will have picked up something bad to yield such a low score

So whats the reason when bankrupts or defaulted accounts get an excellent score from Experian does that mean they are excellent at not paying money back?

sistafromanothermista

BugsyBrowne wrote: »

So whats the reason when bankrupts or defaulted accounts get an excellent score from Experian does that mean they are excellent at not paying money back?

Exactly Bugsy

sfax

BugsyBrowne wrote: »

So whats the reason when bankrupts or defaulted accounts get an excellent score from Experian does that mean they are excellent at not paying money back?

Not defending incorrect excellent scores but a score that low would be a concern for me and it should be obvious from the information in the report why the score is so low

UsetheFORCE

I have 15 accounts (credit cards, current accounts,electric/gas, insurance, catalogues) oldest is 17 months old

Not on electoral roll yet at current address (being added this week but could be a few weeks before CRA's update), lived here 3 weeks but present on electoral roll at both previous addresses.

Limits of total of £2560, balance outstanding about £400.

Markers 000000000000000000 on everything, perfect.

Searches, well that probably is an issue, 89 in the last year, although a good proportion are non credit related and I am certainly not ramping them up now... I now have a Vanquis card coming so will cease applying for anything else.


One of the replies pretty much hit the reason why my score is low on the head but the statement Experian has given is no reflection on me.