Stock Share Isa Credit Score

john32g94

I recently applied for a loan which was well within an affordable amount for my current income and was rejected. I have twice the amount i was attempting to borrow in my stock share ISA so this confused me. At first i thought that the bank may have thought that i was attempting to extend my credit rather than consolidate existing lines of credit, even though i selected the consolidate option in the loan config. I then registered with noodle to check my credit rating and noticed that my stock share ISA did not show at all in my credit rating, yet my other accounts are all visible.

My question is, does a Stock Share ISA count towards your credit score or is it ignored?

ChesterDog

I don't know about your ISA being considered, but I think most lenders will consider even a consolidation loan to be a potential extension of credit. This used to crop up on Zopa often. A lender has no means of knowing what you will do with the money, so may take the view that other loans might continue.

Lokolo

Why would a stocks and shares ISA count towards credit score? It has nothing to do with credit!

Scarpacci

Savings, investments and current account (positive) balances are not shown or considered on credit reports/scores. The report is only concerned with credit - how much you have, your payment history, etc.

Individual banks with whom you have savings or current accounts could consider this information when providing credit, but how much weight is given to that information is not clear.

lisyloo

Savings/investments have nothing to do with credit.
You were rejected for another reason.

Are you on the electoral role.
How much credit do you already have as a % of your income.
How much of your available credit are you using.
There are all sorts of reasons why you were rejected including simply not being in target maket for the product.

But I'm certain it was nothing at all to do with your savings/investments.
It's totally irrelevant to credit.

jimjames

Lokolo wrote: »

Why would a stocks and shares ISA count towards credit score? It has nothing to do with credit!

There is no way I'm aware of where someone checking a credit file can see what you hold as investments either in an ISA or elsewhere.

Does seem strange as you could have a big positive overall balance but also hold debts and they wouldn't be able to see that you have sufficient to more than offset any debt.