Experian Credit Score

wavery

Hello,

Please don't bite for asking a question which probably gets asked time and time again. And I know you can't answer the specifics of my case.

I keep on shelling out a not insignificant fee each month to view my Experian Credit Report. However, I cannot understand my 'fair' rating. I have one negative which is the fact that I was close to my limit on my credit card. This was the case over a month ago but each time I have paid it off in full each month. Last month my friend told me to pay it off only partially as it would improve my score. I have also read Martin's blog about playing the game but here are the essential facts:

I am on the electoral roll at my property and have been for the last 3 years.
I have no debt save for the credit card which I pay off each month.
I have 2 bank accounts which have a positive balance. I also have a joint account with my fiance. Obvious thing would be to close one?
I pay for my mobile phone by direct debit.
I pay for home insurance in full each year.
I don't have a mortgage.
I pay my fiance my part of the mortgage each month but obviously not direct link to the mortgage itself.
I applied for Virgin sim card and got refused back in October but this refusal doesn't seem to appear on the file.

I am really concerned because I want to apply for a mortgage and daren't apply for anything whilst I only get a 'fair' raitng on my credit report.

I would really appreciate any tips!!

Will

rizla_king

Tip: Stop paying for a worthless score.

colmac71

Hi, first port of call would be to get your credit files from each of the three agencies as information can differ from each one. Just the statutory £2 ones are fine!

Also if you are financially linked (via the credit files) to your fiance then just get them to check their credit files too as they may also have an impact.

It is essential that you have some kind of credit history being reported to the CRF's - you've mentioned a credit card, two bank accounts and a mobile phone.

I don't think that the house insurance will show up on your credit file so that will be irrelevant as far as your credit reports go (it may show up as a soft search/enquiry when you first applied for the house insurance).

The_Boss

rizla_king wrote: »

Tip: Stop paying for a worthless score.

^ this. Your 'score' is fictitious so don't bother trying to improve it.

Laurs79

@TheBoss

Can you confirm what you mean in regards to this? It's not that I'm doubting you - but if you get declined, then how can you argue your case?

Thanks

The_Boss

Laurs79 wrote: »

@TheBoss

Can you confirm what you mean in regards to this? It's not that I'm doubting you - but if you get declined, then how can you argue your case?

Thanks

I mean that the score that is displayed is basically a made up number. People are not scored - applications are. And these applications are scored differently by different companies and for different financial products. Credit Reference Agencies do not take into account things like your salary (a huge driver of decisions) when generating their fake scores. Credit reference agencies are not lenders either.