837 credit score - "You have no successfully settled non-mail order accounts."

synchro_2

Hello,

I've just recently signed up to Experian CreditExpert and received my PIN in the post today. My score is 837 ('Fair') and I've been able to see now that I have 1 negative factor:

"You have no successfully settled non-mail order accounts."

What does this mean in reality?

Many thanks

InsideInsurance

It means you dont have any closed accounts (eg a loan that was paid off or a credit card that has been closed) that arent from a mail order company

synchro_2

Such a strange 'negative factor' then. I don't particularly want a loan or another credit card.

By 'mail order company', does that mean not i.e. buying something off Amazon on my credit card and paying it off? It would have to be some kind of non-shopping purchase made on credit?

I'm just trying to think how I can resolve this without purchasing something I don't need.

Typhoon2000

No, they mean something like a Next account where you buy on credit from their catalogue/online.

droiderm

Why do you care what Experian think?

_Andy_

The 'score' is totally meaningless.

blitzboy

synchro wrote: »

Such a strange 'negative factor' then. I don't particularly want a loan or another credit card.

Not really. If you have shown in the past that you have borrowed money and paid it all back on time then this is a positive factor. So the fact that you can't show that is negative as it makes you more of a risk in their eyes.

Easiest way to get around it? Get a cashback or rewards credit card, pay for usual shopping/fuel etc on it, pay it off in full every month ensuring you dont go over the limit/miss payment/etc. Shows you can manage credit and gets you some free cash/rewards on things you'd be buying anyway!

I'm currently getting 3% on all of my food/petrol/etc on Aqua's cashback card, as is my partner, so we will be getting a free £200 (£100 limit) in July without spending a penny we wouldnt have spent anyway:)

InsideInsurance

synchro wrote: »

Such a strange 'negative factor' then. I don't particularly want a loan or another credit card

Whilst any non-mail order company counts it really makes most sense when considering loans as it shows you can stick to an agreement and see it through to the end.