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Credit Score
raundstaylor
Posts: 1 Newbie
Is a score of 488 good?
0
Comments
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Awful mate.Ask me no questions, and I'll tell you no lies0
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The score itself is meaningless; it's the information that is important.
The CRA's seem concerned about the amount of 'available credit' I have, and that the utilisation of that is low when looking for any products. My score was about 300 last time I looked.
The CRA's, however, cannot see what I earn, what savings/investments I have, or what security I have for products that may require this.
CK💙💛 💔0 -
CKhalvashi wrote: »The score itself is meaningless; it's the information that is important.
The CRA's seem concerned about the amount of 'available credit' I have, and that the utilisation of that is low when looking for any products. My score was about 300 last time I looked.
This is really useful information. Lenders generally use various rules when deciding on whether or not to lend. Existing borrowing, whether or not you are working, whether or not you a homeowner - that sort of thing.
We have a useful fact sheet on credit referencing, you can find it here: http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agencies
Best wishes,
David @ NDL.We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Very nice. Must remember that link. :TWe have a useful fact sheet on credit referencing, you can find it here: http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=05_credit_reference_agenciesAre you for real? - Glass Half Empty??
:coffee:0 -
I'll give you a score of 1001, please furnish me with £14.99 a month until you die.0
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