Wildly different credit scores

nc5980

Hello,

I have a quick question - as research for a work project I checked my credit scores with the 3 main credit agencies and discovered something rather alarming about my credit score. Namely that whilst my Experian and credit scores are registered as Good/Excellent, my noddle score is VERY POOR?!

I have an ancient default on the accidental non payment of an overdraft from Aug 2008 but have subsequently had a squeaky clean credit history and have been awarded prime credit/credit limits since.

I was just wondering how it could be possible that the three agencies are rating me so differently and whether this is cause for alarm.

Thank you,

Nicola

The_Boss

Because, in a nutshell, each of the CRAs make up the fictitous 'scores' differently

DCFC79

Not all lenders will report to all 3.

Thrugelmir

The others haven't seen the default.

Ruth_Coombs

It sickens me how much one malicious company can screw up your life for such a small amount of money. This was apparent on the MSE show regarding couples trying to obtain mortgages. One couple had missed 1 credit card payment due to redundancy (not a life choice) and now, even with a 5% deposit they stand to be penalised by thousands of pounds a year as the mortgages offered will be increased due to this missed payment! Our situation is similar and equally unjust. In my mind these 'punishments' do not fit the crime - rather like being sent to jail for stealing a loaf of bread! It is so unjust!

The_Boss

Ruth_Coombs wrote: »

It sickens me how much one malicious company can screw up your life for such a small amount of money. This was apparent on the MSE show regarding couples trying to obtain mortgages. One couple had missed 1 credit card payment due to redundancy (not a life choice) and now, even with a 5% deposit they stand to be penalised by thousands of pounds a year as the mortgages offered will be increased due to this missed payment! Our situation is similar and equally unjust. In my mind these 'punishments' do not fit the crime - rather like being sent to jail for stealing a loaf of bread! It is so unjust!

It's about financial risk though and missed payments suggest a risk. While I agree that it ia harsh for one missed payment, there may have been other data suggesting they were a risk or a worse rate from the fact the deposit was only 5%