Lloyds TSB Credit rating Question!

trikidy

Hello, after a meeting today with Lloyds I am told that I am band 1 out of 9 on the internal scores, which is the best- but for external scores I am F out of A-I (A being the best!).

According to noddle I am 5/5, so how reliable is Lloyds External scoring?

Any reason there would be such a gap?

Thanks

nomoneytoday

AFAIK their scoring will be based on your behaviour with their products.
A current account with no overdraft, for example, won't be seen externally, but can be by them

Trajal

I thought they did a 1-99 system, strangely enough! I know my internal and external scores with them are utterly dire. Not really sure why, other than the fact that I don't keep my savings accounts with them and just use their accounts to pay bills after my salary goes in (then swipe everything else across to a different bank for savings/pocket money).

You ask them questions though and they will give you dozens of different answers.

As I understand it they have 3 scoring systems.
1) Identifies external risk.
2) Identifies internal sales opportunities and potential.
3) Identifies internal risk.

My understanding is that the products that they offer you are a blended aggregation of the above.

trikidy

nomoneytoday wrote: »

AFAIK their scoring will be based on your behaviour with their products.
A current account with no overdraft, for example, won't be seen externally, but can be by them

The woman explained that this is what their internal score, the 1-9 was based upon. The A-I score is your external score, which is not based on their products but your credit outside of lloyds.

You-kip

1-9 is account conduct and A-I is Risk.
CPD(Credit Policy Decline) can be placed on each individual lending product.
CPD99 is no lending products available.

trikidy

So the A-I is infact Lloyds own scoring and not an external scoring?

rabbit_burrow

trikidy wrote: »

So the A-I is infact Lloyds own scoring and not an external scoring?

It is their own scoring, but is based on external factors.

Lloyds would not be able to give you a score for what other lenders may give you.

What they mean is that, based on your accounts with them, you have an excellent 'Lloyds score', but based on your credit file you have an average 'Lloyds score'

trikidy

I see, a bit confusing!

How come a 5/5 noddle score only equates to an average Lloyds score?

Would other banks see it differently?

You-kip

trikidy wrote: »

I see, a bit confusing!

How come a 5/5 noddle score only equates to an average Lloyds score?

Would other banks see it differently?

Because Noddle score doesn't mean anything and nothing but a worthless generated number that lenders don't see and nor would they care.

trikidy

You-kip wrote: »

Because Noddle score doesn't mean anything and nothing but a worthless generated number that lenders don't see and nor would they care.

I see.......

rabbit_burrow

It also depends on whether Lloyds even use CallCredit(noddle) or not. They might use Experian and/or Equifax, in which case the noddle report would be useless for that lender.

You should never rely on just the one CRA, I have different things on each of my 3 files, 1 shows a default (with an incorrect date), the others don't, one shows an agreement to pay (incorrect data), the other 2 show as all up to date. They also have different search data on them.