My first credit card

chattychappy

JakeGreen wrote: »

Are you sure you're at 999? When is that last time you checked it?

A number of posters here get 999 on Experian. Then they post along the lines of "Denied XXX credit card despite 999 on Experian".

The scores are a con.

analyst_2

OK, I accept what you say, I merely used that 999 as broadly indicative.
However, I also know that my finances are relatively simple, with no adverse reports or circumstances in my history.
I am free of any lending/debts and mortgage free. Always pay off my sole credit card in full, and have a very long good standing with the bank. I went through my case with Saga on the phone and they said they could see no reason why they would not issue me a card.

Yet, the MSE Eligibility Checker still tells me that I have 0% chance of acceptance by Saga, but advises 80%-90% chance with the other leading card providers.

Farside

chattychappy wrote: »

A number of posters here get 999 on Experian. Then they post along the lines of "Denied XXX credit card despite 999 on Experian".

The scores are a con.

Yes but i have prooved that if you have a low experian score then they (the lenders) will automaticly decline you, so they do actually use them to a degree, But they also use their own in house system. It's true that high score and a excellent report on the CRA's doesn't guarrentee you an acceptance because the lenders in house system can still decline you, But a low experian score and report WILL 100% decline you.

I researched this on my own experian account, I was being declined constantly when in poor - fair range, Then when in excellent range i was excepted for almost all applications. This was over a 10 year period so i worked this all out. And i didn't keep applying for things straight away.

chattychappy

Farside wrote: »

Yes but i have prooved that if you have a low experian score then they (the lenders) will automaticly decline you, so they do actually use them to a degree,

(emphasis added)

They don't use them at all because they don't see them. The Experian score is simply calculated on demand for people like you who pay to see it. Experian don't supply scores to lenders. Your Experian score is based on data on your Experian report only (which you can see anyway). The scoring by lenders takes into account other data - eg what you put on the form, other account information they have about you etc.

Farside wrote: »

But a low experian score and report WILL 100% decline you.

I researched this on my own experian account, I was being declined constantly when in poor - fair range, Then when in excellent range i was excepted for almost all applications. This was over a 10 year period so i worked this all out.

So this is your "proof"? Your own experience?

There may be a correlation between Experian scores and your chances of acceptance, but I wouldn't put it higher than that. A high earning friend of mine got a credit card here. She would have had a low score - no credit history, not on roll, rented accommodation, only in the UK 6 months. Experian would have seen nothing in her. She got a CC with her own bank cos she'd had an offshore banking relationship with them for years.

It's worth checking your credit report for negative data. But frankly if all these years you've been paying for your score, you've been wasting your money.