Confused - Credit Score

ralph1

Hi, new to this site but looking for some advice/help please.

I have had a few problems in the past with credit but have been working very hard over the last 2 years to improve my credit worthiness.
I registered with 'Check my file' to track the progress of my score but have found that nothing has changed over the last 2 years at all - they were showing both credit scores around the 550 mark which is rated as poor. so i went direct to Experian and the score here was 884 which is classed as good. Equifax however gave me a score of 346 which is poor.....so now im really confused!

Both reports have accurate data in them and there aren't any differences in the information so now i am really confused as to whether i am a low risk (Experian) or a high one (equifax). Also why would check my file have such different info?

my aim is to get approved for car finance in April 2014 so would really like to get an idea if this will be possible before i give my company car back. My situation is;

- 3 Partially satisfied defaults which were settled in jan 2009 (2) & Dec 2010. They amounted to £4k.
- No CCJ's
- 2 late payments form 2010 on a phone contract
- 2 current accounts with unused OD's which are up to date
- 2 credit cards with a £3k limit and a £2.2k limit. i spend around £2k a month on these but always pay the balance in full each month and have done without fail over the last 2 years.
- Recently approved for a joint mortgage (75% LTV only though)
- On the electoral roll at same address for 3 years

Can anyone offer any insight into what the score difference may be or if indeed they really matter?

I am looking at either a lease car or a finance deal through Mercedes, Audi or BMW. Thanks in advance

Tixy

Checkmyfile doesn't know or include detailed information from experian, all they see from experian is the public info (whether you are on the electoral roll, whether you have CCJs or have been bankrupt/entered an IVA etc).

What are the default dates showing on your file for the 3 defaults. As that will determine how soon they drop off your file.

With the defaults still on file you will likely struggle to get a mainstream/cheap deal on car finance, but you may be able to get a deal at a not so competitive rate. I suspect you would struggle with the dealers you mention for a finance deal, you may find a lease car easier.

When you say you were recently approved for a mortgage - have you actually taken the mortgage out/moved property? if not are you expecting to do that before you would be looking for car finance.

Ignore the scores sold to you, what is important is the detail on your report (nobody ever sees those scores except for you).

ralph1

Hi, Thanks for the reply.

The dates for the defaults were 2 in December 2008 and one in january 2010. they are now partially satisfied. i understand they will show for 6 years?

Yes i am on the mortage now - its the house i have lived in for 4 years but i wasnt on the mortgage beofre. when we remortaged in July this year i went on and this now shows on my credit file.

is it easier to get approved for a lease car than finance on the vehicle? i dont want to use one of these guaranted finance companies.

thanks