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Excellent credit rating but getting refused
Comments
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Not sure what a high level of debt is compared to my income, it's about 50%, is that high?
is that your level of debt, or your level of credit ?
and is that just for your unsecured credit?
50% of you income on unsecured credit is high and might explain why you have been getting refused0 -
Common factors leading to credit refusal for people with excellent credit histories include income and, certainly for credit cards, already having a card with the same company. I just fell foul of the latter.
On the score issue, this Q&A provides a little more detail on what the score can and can't tell you.
James“Official Company Representative
I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen0 -
Experian_company_representative wrote: »Common factors leading to credit refusal for people with excellent credit histories include income and, certainly for credit cards, already having a card with the same company. I just fell foul of the latter.
On the score issue, this Q&A provides a little more detail on what the score can and can't tell you.
James
What about the people with Defaults who get Excellent scores off yourself I suppose that's down to Income then and nothing to do with the Defaults.0 -
Experian_company_representative wrote: »Common factors leading to credit refusal for people with excellent credit histories include income and, certainly for credit cards, already having a card with the same company.
James
Excellent credit histories? What about the missed payments?0 -
Missed payments are factored into credit scores but can be outweighed by an abundance of positive data alongside them. It's always relative.
James“Official Company Representative
I am an official company representative of Experian. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
Posts by James Jones, Neil Stone, Stuart Storey & Joe Standen0 -
What about the people with Defaults who get Excellent scores off yourself I suppose that's down to Income then and nothing to do with the Defaults.
I think there is someone on here with a bankruptcy and multiple defaults on their file who still gets a score of 980?
Really does show up how much nonsense they are.Still rolling rolling rolling......
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SIGNATURE - Not part of post0 -
rizla_king wrote: »I think there is someone on here with a bankruptcy and multiple defaults on their file who still gets a score of 980?
Really does show up how much nonsense they are.
Yes, I referred to them in one of my earlier posts although can't remember who it is.0 -
Experian_company_representative wrote: »Missed payments are factored into credit scores but can be outweighed by an abundance of positive data alongside them.
Marketing departments come up with some real tosh sometimes........0 -
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Experian_company_representative wrote: »Missed payments are factored into credit scores but can be outweighed by an abundance of positive data alongside them. It's always relative.
James
So what data would have outweighed this?
https://forums.moneysavingexpert.com/discussion/40992570
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