Checked credit file for the first time...a bit confused!

misskindle

Hey everyone,

First time poster but I have been lurking in these forums for quite a while now.

As the title of my post suggests I have recently got my free Equifax and Noodle credit reports and they have left me quite confused. I have dabbled with different varieties of credit since I was 18 in a bit to improve my credit score because getting a mortgage is my top priority later in life.

I have a credit card, a phone contract, credit offered with catalogues etc.

According to Noodle my credit rating is 5/5 but when I checked equifax I was slightly alarmed when my rating overall was in the yellow category. When I investigated this further I discovered that I had made a payment 2 days late on a JD Williams account. This one missed payment in the middle of 4 years never having missed a payment on anything has really worried me.

In real life terms how has this effected my credit rating and is there anything else I can do to improve it now? I am just so annoyed ay myself that one silly late payment could have had an impact on something as serious as a mortgage

Any advice from you seasoned posters would be really helpful.

CherlokHomes

No lender will care what scores credit agencies like Noodle or Equifax score you nor should you care as they are very meaningless money making machine rip offs.

Concentrate on whats on your file and by the sounds of it 1 CC a Catologue and mobile contract is hardly enough credit accounts IMHO for lenders to get a full risk score of yourself.

misskindle

Innovate wrote: »

Concentrate on whats on your file and by the sounds of it 1 CC a Catologue and mobile contract is hardly enough credit accounts IMHO for lenders to get a full risk score of yourself.

Initially this is what I thought but then the more research I do I keep getting conflicting advice. If I apply for too much credit will this make me look bad? In your opinion how what should I do in order for lenders to get a full risk score of myself? Thanks for the reply

Maestro.

Innovate wrote: »

Concentrate on whats on your file and by the sounds of it 1 CC a Catologue and mobile contract is hardly enough credit accounts IMHO for lenders to get a full risk score of yourself.

you've got to be kidding me right? Three credit accounts (one revolving) isn't enough to build up a decent score? What is then?!

Maestro.

Maestro. wrote: »

you've got to be kidding me right? Three credit accounts (one revolving) isn't enough to build up a decent score? What is then?!

@ OP - Yes, applying for too much credit will make it look bad, as each "search" goes on your files. Having too much credit available in relation to your income could be detrimental as well.