Husband's poor credit score

Caladan

The_Boss wrote: »

Neither of these statements are true, as people do not have credit scores.

I think it would be more beneficial to say that peoples 'credit score' is a figure made up by every single company based on their own matrix. The credit scores CRAs (Credit Reference Agencies) show you are also made up by the agency involved and could (read: will) be entirely different to how any other financial institution or CRA develops your 'score.'

As it happens, your credit score with any one institution is a rather meaningless figure plucked out of the air.

Sorry to be pedantic, but I think it's important when making statements like that to at least clarify what you're saying - People with less knowledge of these matters would just be scratching their head and saying 'dafarouq is he on about?'

redpete

The_Boss wrote: »

Neither of these statements are true, as people do not have credit scores.

Yes they do, you can get one from Experian. It even gives some indication about how likely you are be able to get credit - but of course it does not give the full picture and cannot be used on its own.

bigadaj

redpete wrote: »

Yes they do, you can get one from Experian. It even gives some indication about how likely you are be able to get credit - but of course it does not give the full picture and cannot be used on its own.

It gives a fairly low correlation with people's likelihood of getting credit but a very high correlation with experian and eqiifaxs profit margins.

The_Boss

Caladan wrote: »

I think it would be more beneficial to say that peoples 'credit score' is a figure made up by every single company based on their own matrix. The credit scores CRAs (Credit Reference Agencies) show you are also made up by the agency involved and could (read: will) be entirely different to how any other financial institution or CRA develops your 'score.'

As it happens, your credit score with any one institution is a rather meaningless figure plucked out of the air.

Sorry to be pedantic, but I think it's important when making statements like that to at least clarify what you're saying - People with less knowledge of these matters would just be scratching their head and saying 'dafarouq is he on about?'

Sorry to also be pedantic, but people are not credit scored by lenders; applications are.

The_Boss

redpete wrote: »

Yes they do, you can get one from Experian. It even gives some indication about how likely you are be able to get credit - but of course it does not give the full picture and cannot be used on its own.

:rotfl:

It's not a credit score, it is a worthless guess.

Alexd52

eloiseh wrote: »

My partner and I did a balance transfer, and names were not asked. We did it from my sister's credit card, to our own 0% for 18 months Barclycard (was for a group holiday).

The surnames weren't even similar... You should be fine.

Agree with this, I have transferred a balance from my wife's card to a 0% deal on mine without a problem

redpete

The_Boss wrote: »

It's not a credit score, it is a worthless guess.

No, it's a calculated number based on partial information about a person's credit risk that isn't worth as much as they charge for it.