Mum used studio account in my name

Tasha1892

krisdorey wrote: »

You do know credit score are useless?

Each lender has their own internal lending scoring criteria and they pay no attention to xxx/999 or x/5 etc.

They look at affordability, and defaults, missed payments etc. The score is just there for companies to get people to waste their money subscribing to scoring services.

I know this, but the higher your credit score is the more likely you are to get credit. I use it to monitor how I can improve and in what areas I am going wrong in. I use Noddle for my credit report which is free.

I'm on just under 21k, I'm 23 years old, I live in a house share and pay £250pm and i'm on the electoral, I have a credit card for emergencys that is very rarely used and is also set on direct debit. My virgin tv, internet and mobile phone is direct debit and I've never missed a payment.

The studio account is the first non payment I have on my records for over 3 years yet I still cant get finance or a loan.

Where am I going wrong?

Voyager2002

Tasha1892 wrote: »

I know this, but the higher your credit score is the more likely you are to get credit. I use it to monitor how I can improve and in what areas I am going wrong in. I use Noddle for my credit report which is free.

I'm on just under 21k, I'm 23 years old, I live in a house share and pay £250pm and i'm on the electoral, I have a credit card for emergencys that is very rarely used and is also set on direct debit. My virgin tv, internet and mobile phone is direct debit and I've never missed a payment.

The studio account is the first non payment I have on my records for over 3 years yet I still cant get finance or a loan.

Where am I going wrong?

You are going RIGHT by not getting finance and loans: if you used that sort of credit to any significant extent you would find interest payments swallowing up quite a lot of your income.

I do suggest that you get a cash-back credit card (Aqua or Capital One) and use it for your everyday shopping, paying the full balance by D/D each month. The cashback is obviously worth having, and also if you build a record of using credit responsibly then you will become more attractive to lenders.

And as others have said, your credit score is meaningless: lenders don't use them. Your credit score partly reflects things that matter to lenders (like length of time in the same job or same address) but you don't need to pay for a credit score to know that these things help.

Tasha1892

Voyager2002 wrote: »

You are going RIGHT by not getting finance and loans: if you used that sort of credit to any significant extent you would find interest payments swallowing up quite a lot of your income.

I do suggest that you get a cash-back credit card (Aqua or Capital One) and use it for your everyday shopping, paying the full balance by D/D each month. The cashback is obviously worth having, and also if you build a record of using credit responsibly then you will become more attractive to lenders.

And as others have said, your credit score is meaningless: lenders don't use them. Your credit score partly reflects things that matter to lenders (like length of time in the same job or same address) but you don't need to pay for a credit score to know that these things help.

I can move forward, thank you!! :T

Tiglath

Have you made sure your mother can't access any other of your accounts?

Tasha1892

aliasojo wrote: »

I feel for you, my OH's parents did similar to him and we only found out after they had both died.

He had moved out but they used his name for ages afterwards to open accounts.

I hope you got it all sorted, I can sympathize

Tasha1892

Tiglath wrote: »

Have you made sure your mother can't access any other of your accounts?

Yes its the only account that Ive ever had, my bank is listed at my address. Nothing else goes there other than my blood donation updates.