I think its a good score but still rejected?

LeeThePlumber777

The_Boss wrote: »

Lots of people in this thread have commented about the worthlessness of these 'scores'. A mere 4 posts before yours it even says "Ignore the scores from Experian, Equifax etc. They are one big steaming pile of dung that do not mean anything in the real world".

For you to post what you did so soon after and when (as You-Kip also said) the top of the first page of this board is full of threads where people have said the same can surely be seen as nothing but trolling. I'm baffled as to why (from your tone) you think we're criticising your level of knowledge when we're not.

(Incidentaly I love that the pointless score increased when you renewed. Great tactic from Experian to make you feel warm and fuzzy and like paying for the service is money well spent).

Have realised this now was I think more down to the fact I just paid to renew and as you guessed felt pretty good about it only to come on here and realise its pretty meaningless, was a bit of an anti climax and suppose I just needed it confirmed directly. Apologies for spitting my dummy out

sharpy2010

LeeThePlumber777 wrote: »

Ah well the fact I've gone from 400 to 800+ can only be a good sign IMO

Well it means Experian would be more likely to lend you money now than previously.

But since they don't lend money, it doesn't make any difference if they consider you more lendworthy, they still aren't going to lend you any money because thats not the business they are in.

The_Boss

LeeThePlumber777 wrote: »

Have realised this now was I think more down to the fact I just paid to renew and as you guessed felt pretty good about it only to come on here and realise its pretty meaningless, was a bit of an anti climax and suppose I just needed it confirmed directly. Apologies for spitting my dummy out

Just make sure you cancel it asap.

Also feel free to start a new thread with details of what data is on the report and we can advise what you can do to improve how lenders assess you when applying for credit.

LeeThePlumber777

The_Boss wrote: »

Just make sure you cancel it asap.

Also feel free to start a new thread with details of what data is on the report and we can advise what you can do to improve how lenders assess you when applying for credit.

Thanks there's one on there that was satisfied in 2009 so guessing that will be gone by end of 2015.

One that does seem fishy is from Vodafone it says satisfied but also says start date 01/11/2011 and end date 01/12/2011 this surely isn't right as haven't been with Vodafone for yours and what sort of agreement ends after one month?! Annoying thing is judging by the end date this will be on file until 2018!

MoneySaverLog

Your lenders credit score is secret, they wont tell you how you're scored but suffice to say they score you on three things.

1) The DATA that is retrieved from the CRA(s) they use. NOT THEIR SCORE

2) The information you put on any application form for credit.

3) Any past dealings they have had with you.

The three sets of data combined will create a individual lenders credit score. Each lender will have different lending criteria, and will score differently. So you may be declined with one and accepted with another.

Hope this helps

Cjmain

Hmm, If the credit score means nothing then whats the point of having it? and if it means nothing then how does it affect your ability to obtain credit? I find the whole thing rather frustrating when you need something, and no legit companies (which aren't charging the likes of 128% APR) help when you need it, Its clearly also pointless to remain loyal to whichever bank you choose, cause they wont help you either, even though an error made by the bank damaged my credit file in the first place.
I'm beginning to understand why people choose to go to these companies or loan sharks in order to obtain the finances they need, which by the looks of it is what I'm going to have to do.

StuC75

The CRA's credit score is a guide to how other lenders may view your application along with other such information as Time at address & Employment length and salary information. The Finer points of which will never be publicly disclosed since would open companies to falsified applications.

You have opened a few accounts recently, and have a missed payment from only a few months ago. for now these will be counting against you..

izools

Cjmain wrote: »

Hmm, If the credit score means nothing then whats the point of having it? and if it means nothing then how does it affect your ability to obtain credit? I find the whole thing rather frustrating when you need something, and no legit companies (which aren't charging the likes of 128% APR) help when you need it, Its clearly also pointless to remain loyal to whichever bank you choose, cause they wont help you either, even though an error made by the bank damaged my credit file in the first place.
I'm beginning to understand why people choose to go to these companies or loan sharks in order to obtain the finances they need, which by the looks of it is what I'm going to have to do.

The "score" that CreditExpert et all sell you is meaningless, and there is no point seeing it, but the DATA in your credit file is very important.

The account history, credit search history, court judgement data, electoral roll data etc IS seen by lenders and is very important - as this data is used along side the data you provide on your application, and viewed along side anything else the organisation you apply to know about you already - past accounts etc, by THE LENDERS OWN credit scoring model, to decide whether to grant you the facility you've applied for.

The credit reference agencies would do much better to scrap this "Credit Score" tripe they sell consumers and instead have flash videos and walkthroughs / manuals explaining how to understand all the individual pieces of data in your credit file, how to scour all this data accurately, how it all comes together to affect your creditworthiness, and what processes to follow to correct erroneous data.

A "score" sold by the credit reference agencies to consumers serves no useful purpose - or worse yet, detracts from what is important - your credit file itself.

Vodafone

LeeThePlumber777 wrote: »

Thanks there's one on there that was satisfied in 2009 so guessing that will be gone by end of 2015.

One that does seem fishy is from Vodafone it says satisfied but also says start date 01/11/2011 and end date 01/12/2011 this surely isn't right as haven't been with Vodafone for yours and what sort of agreement ends after one month?! Annoying thing is judging by the end date this will be on file until 2018!

Hi LeeThePlumber777,

This does appear to be a bit strange.

So I can get things looked into further could you email me with your details via the link in our profile here?

All you need to do is copy and paste the link into your web browser and it'll take you to the Contact us form on our website. To make sure it reaches me could you also quote the code WRT135 - MSE in the subject line?

Once sent you'll receive an automated reply with a reference number. Could you update the thread with this and I'll get back to you as soon as possible?

Kind regards,

Lee

Web Relations

Vodafone UK

sneaky

just cleared a 5 year 15k loan without any missed payments and my so called credit score has dropped. Just goes to show there is no logic way the scores are calculated.