Experian Credit Matcher is Hilarious

wiseshark

I recently logged in to Credit Expert. My score is in the low 900's which is apparently "good" but as we all know completely meaningless.

Out of curiosity, I clicked on Credit Matcher and here are the results for my profile.

Barclaycard Platinum with (BT) 18 months 24.9% APR
Aqua Classic 29.7% APR
Aqua Advance 34.9% APR
Aquis Visa 29.9% APR
Luma Card 35.9% APR
Barclaycard Initial 29.9% APR
Argos Credit Card 39.9% APR

I have numerous settled accounts and 9 active including 3 mainstream credit cards, very well managed, all with decent limits and standard APRs of 17.9%

So how in blazes did they come up with the above?:rotfl:

wiseshark

I should also point out that the report states there are 5 positive factors and zero negative.

joolsybools

I'm not expert but 9 lines of credit sounds like too much to me so higher risk?

wiseshark

I don't believe so joolsybools. Many people on here have far more active accounts than 9. In fact some regular posters on this forum have like 10 current accounts, even more.

My credit/debt ratio is usually between 10-15%.

You-kip

I hope you're not paying a monthly subscription to Experian because that would be hilarious.

guesswho2000

wiseshark wrote: »

I don't believe so joolsybools. Many people on here have far more active accounts than 9. In fact some regular posters on this forum have like 10 current accounts, even more.

My credit/debt ratio is usually between 10-15%.

Agreed, active accounts includes stuff like mobile phones, Virgin media, utilities (British Gas for one).

I've got nine credit cards and seven current accounts, in addition to mobile phone etc, many other have even more than that - a lot of us use these financial products to our advantage, as opposed to just maxxing out everything offered

wiseshark

No You-kip, I certainly don't pay a monthly subscription. I log in and pay the fee twice a year and then cancel. I know I could send off for the report by post, but it does take at least 2/3 weeks to arrive.

By the way Bugsy, love your sense of humour. You can also at times be quite hilarious.

CKhalvashi

joolsybools wrote: »

I'm not expert but 9 lines of credit sounds like too much to me so higher risk?

I've got 26 active (according to Noddle), and have just been granted a long BT card, and a new 0% spending one, so it's probably bearing in mind the account type, too (12 of these are current accounts, and 9 are CC's)

I've got 21 settled accounts appearing, so my CR is colourful, if nothing else.

I think it's risk across the board, and the lender can probably see, with details I've provided them with, that there's no unmanageable debt there.

CK