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Excellent credit score but cannot get a credit card

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Comments

  • JohalaReewi
    JohalaReewi Posts: 2,614 Forumite
    James, this raises an interesting point which I suspect you wont be willing to answer.

    According to the above, if I apply as an individual directly to you to see my score you will only give me my score unaffected by any of my financial associates due to DPA.

    If I apply as a sole individual to a financial institute however you will give that institute data related to the associates despite me having exactly the sale legal authority to give them permission to see it as I have to give you to show it to me directly.

    Why does my authority change if I am going directly or indirectly to you?

    Many years ago, your credit report showed you everything that potential lenders saw - including linked associates' history. Not surprisingly, this info was soon blocked from you due to "Data Protection" but is still freely available to potential lenders.
  • The_Boss wrote: »
    Yet another of these threads and the mods still happily sit back and do not make any sticky threads.

    The 'credit scores' from Experian are not reliable in the slightest. Instead of complaining, consider that this just demonstrates ths point people continually make.

    Hi. Could you tell me why Experian, Equifax and Callcredit give credit scores if they are not reliable? Do lenders use the information they supply?
    Is there another way of checking your credit worthiness other than going to one of these three companies?
    Thanks.
  • Cycrow
    Cycrow Posts: 2,639 Forumite
    Hi. Could you tell me why Experian, Equifax and Callcredit give credit scores if they are not reliable? Do lenders use the information they supply?
    Is there another way of checking your credit worthiness other than going to one of these three companies?
    Thanks.

    The credit scores are made up from whats on your credit file. The lenders will also use the information on your file but they will generate thier own score based on this. Every lender has a different criteria that they score on and also include other factors that are not on your credit file, like previous history with them, salary, etc.

    The information on your file is what is important, but theres no way of knowing how a lender will use that information
  • JohalaReewi
    JohalaReewi Posts: 2,614 Forumite
    Hi. Could you tell me why Experian, Equifax and Callcredit give [STRIKE]credit[/STRIKE] scores if they are not reliable?
    They don't give scores, they sell them. ;)
    Do lenders use the information they supply?
    Yes. lenders use the information from CRAs (and other sources).
    Is there another way of checking your credit worthiness other than going to one of these three companies?
    Thanks.
    The only real way to check your credit worthiness is to apply for credit and see if you get it.
  • izools
    izools Posts: 7,513 Forumite
    1,000 Posts Combo Breaker
    edited 3 July 2013 at 9:11PM
    No, the OP's financial associate has a CCJ. For data protection reasons we are not allowed to provide a score influenced by other people's data. The score, which is clearly explained on our website, gives you an indication of how a typical lender will assess YOUR credit report data. It's not the full story but it's an important part of the picture.

    James Jones

    Yet more evidence of why the score you sell isn't a gauge of how likely an applicant is to be approved for credit at all then.

    As you state yourself your score doesn't take into account the credit worthiness of financial associates despite the fact that near-as-makes-no-difference all lenders in the UK do.

    More inconsistencies between how Experian's Credit Score rates people and how actual lenders rate people.

    Great, isn't it?

    As you seem to be so up on the Data Protection Act, could you explain to me how it is a breach of DPA for a data subject to see data pertaining to their financial associates, when potential lenders see this associate data - without said associate granting permission for that lender to see it?

    Oh, wait, when a joint application is made both parties agree to be linked and agree that either parties data may be viewable when either data subject is searched.

    Making it legal for one data subject to see their associate's data. As permission for the associate's data to be visible to the data subject was granted at the point they originally made the application that linked them.

    Hmm. Someone with a stinky cold off their face on sudafed knowing the intricacies of the DPA better than a representative of the UK's leading CRA.

    :T
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • JohalaReewi
    JohalaReewi Posts: 2,614 Forumite
    Shouldn't this thread be over on the new credit scores forum?
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