Credit Rating

FinanciallyUnsavvy

Hi Guys

I've just checked my Experian credit file and I'm VERY annoyed.

It's the first time I've checked it in over a year and I was expecting my score to have gone up somewhat, since I've cleared 50% of one of my cards and totally cleared a fairly hefty Littlewoods account.

Instead it's gone DOWN :mad: thanks to a website I purchased a Christmas present from....

I paid direct debit when I ordered but still I've been set up with a credit account (which i have NOT and WILL NOT!!! use), yet this is marked negatively against me as having more credit accounts, and also made the average age of my credit accounts newer (which is also counting against me).

I've emailed the credit company in question to get them to close my account and to get it removed from my credit account - but I have no idea if they can/will do this.

Any advice?

Thanks!

rizla_king

What website.

CherlokHomes

We'll the Good News is your score is very meaningless and best ignored as lenders won't see your silly score nor would they care.

FinanciallyUnsavvy

Innovate wrote: »

We'll the Good News is your score is very meaningless and best ignored as lenders won't see your silly score nor would they care.

Regardless of whether the actual "score" is meaningless... it's still an extra creditor added to my report that lenders see and DO care about.

FinanciallyUnsavvy

rizla_king wrote: »

What website.

The site is TheBrilliantGiftShop.

No so brilliant it would seem. Only ordered because they had a game my boyfriend wanted and it was cheaper on here than anywhere else.

YorkshireBoy

The T&Cs are very clear in that they say they'll set up a credit account, and report it to the CRAs (even if you pay by debit card, not direct debit as you said in your OP).

Why didn't you read them before placing your order?

rizla_king

So you registered with the site. That is the only way you can order.

You clicked to accept and say you had read the terms and conditions which includes an explanation that the account was a credit agreement

FinanciallyUnsavvy

YorkshireBoy wrote: »

The T&Cs are very clear in that they say they'll set up a credit account, and report it to the CRAs (even if you pay by debit card, not direct debit as you said in your OP).

Why didn't you read them before placing your order?

I meant debit card - thanks for clearing that up.

Ok, so they haven't done anything wrong in what they've done. It's in the T&Cs. My own fault for not reading them. Rookie mistake. But honestly.. who actually reads through the 100+ pages of small print on these things? Especially when you're just making a quick purchase of one item, sub-£20. We're only human.

Like I said, I emailed them to close my account and/or remove the listing from my credit report. Is this something they can do? By closing my account will it eventually disappear from my credit report?

YorkshireBoy

FinanciallyUnsavvy wrote: »

Like I said, I emailed them to close my account and/or remove the listing from my credit report. Is this something they can do? By closing my account will it eventually disappear from my credit report?

They'll close your account, but it'll remain on your credit report - marked as 'settled' - for 6 years.

YorkshireBoy

FinanciallyUnsavvy wrote: »

who actually reads through the 100+ pages of small print on these things?

The very first line (of one section) says "We will send you a credit agreement specific to you."


Reading this would have meant you didn't need to bother reading the other 99+ pages.

FinanciallyUnsavvy

OK. It's my own fault for being stupid.

*Quietly backs off into a corner*