My credit rating has not changed AT ALL in the last 9 months.

Taucher

So, my credit score and report from September 2012 (the oldest one I can still view) is exactly the same in every way as my score and report that I generated today. Is this normal? It says the following: -

Number of credit accounts (including those settled)6

Amount of available credit (excluding mortgages) £1,442




% of your total credit being used (excluding mortgages) 45%




Amount of outstanding debt (excluding mortgages) £1,208




Number of accounts overdue 0




Number of missed or late repayments in the last year 0

And the report from today has exactly the same information, which cant be true as I am making my payments every month.

ALSO, the credit report does not include a loan I have (£1200) or another credit card I have (£700) OR my current mobile phone contract (it has an old 'settled' one). And my current address was wrong (I changed it now) even though I have told all my account holders about my new address.

So, why hasn't it changed? Why is it wrong? And what impact might this innacuracy have on my ability (or not) to get credit or a mortgage.

Thank you very much.

The_Boss

The CRA credit scores are an utter waste of time - don't pay any attention to them.

I reckon the missing account info is down to your address or a possible variation of it on the accounts in question compared to your address as held by the CRA.

Taucher

Thank you! You are right, the loan and credit card I took out were after I moved to my new address.

So i updated my address on the system last week, have checked again today and the loan and credit card are now linked to my account under my new address! The problem is, my credit score has gone down by a hundred now!

I wasn't aware that lenders don't see credit scores...what is the point of them?

The_Boss

Taucher wrote: »

The problem is, my credit score has gone down by a hundred now!

I wasn't aware that lenders don't see credit scores...what is the point of them?

As said before, you don't have a credit score. The point of them is to be a nice cash cow for Experian/Equifax to mislead people into thinking that lenders see them this way too.

jacobtheamish

Taucher wrote: »

I wasn't aware that lenders don't see credit scores...what is the point of them?

Main concern for lenders will be current credit exposure and past management of borrowing of current and historic accounts.

The score Experian provide is an attempt to make it straightforward for you the consumer to make a judgement on your own file. It can be confusing for some when reading a credit file, particularly when there are many entries etc

Experian_company_representative

Your credit rating will take a temporary dip when you move address - this is normal.

Many lenders do obtain credit scores from the credit reference agencies and the score you can get is built using similar logic. But, lenders' scores assess a wider range of data (eg your application form, your history with that lender etc) whereas the score you can get from a CRA only rates your credit report. So it's an assessment of part of the picture.

James

The_Boss

Experian_company_representative wrote: »

Your credit rating will take a temporary dip when you move address - this is normal.

Many lenders do obtain credit scores from the credit reference agencies and the score you can get is built using similar logic. But, lenders' scores assess a wider range of data (eg your application form, your history with that lender etc) whereas the score you can get from a CRA only rates your credit report. So it's an assessment of part of the picture.

James

Why do you not state this and further information on your pages relating to signing up for the 'Experian credit score'?