Noddle credit score

amstel2

Hello

For the last few years my credit rating on Noddle was only 1 out of 5. Not surprising since I had bankruptcy, IVA, & default entries on their. In January the defaults & IVA reached the 6 year point & dropped off my record & the bankruptcy dropped off last night (I have been checking daily).

My credit file is now clean. I have had a Vanquis Gold card since 2009 & an Aqua card for 18 months. I do have outstanding balances on both of them but I am paying them down I pay well over the min payment every month. I have never missed a payment on either of them& the history status for both of them on Noddle is the Green circles with OK under them. In addition since 2008 I have had a Cashplus card with the Creditbuilder facility again that is also showing ok with the Green circles.

Also a few months ago I took out a couple of Wonga loans thinking they would improve my credit rating (I think it might have done the opposite). I paid one off on time & the second one early I have not & will not take anymore out.

I have two basic current a/cs with 2 different banks they are both listed & show as ok.

However, my credit rating has only gone up to number 2 which according to the Noddle site would still prob result in rejection for better credit offers. Does anyone know why it is still so low or is this Noddle score meaningless?


Thanks

CreditCrunchie

The scores themselves are meaningless. In addition most lenders do not use CallCredit (Noddle), so it would be an idea to order your £2 statutory reports from Experian and Equifax and see what's on there, changing anything you need to. After that all you can do is give it time.

YorkshireBoy

CreditCrunchie wrote: »

The scores themselves are meaningless.

I signed up to Noddle last week.

My report shows 4 of my 6 overdraft facilities maxed to the hilt (all stoozed and making money from them so don't worry ) and totalling £17,500 (out of £26K available).

In addition, I have around £60K of available credit on credit cards and I'm using around £8K of it.

My Noddle score is 4/5. The fact that I'm so heavily using my overdrafts should tell them (incorrectly of course ) that I'm living beyond my means...yet they still say I'm 'good for the money'.

And that's (another reason) why these scores are meaningless!

YorkshireBoy

amstel2 wrote: »

Does anyone know why it is still so low

You've answered your own question...payday loans are the (main) reason.

ejc81

amstel2 wrote: »

Hello

However, my credit rating has only gone up to number 2 which according to the Noddle site would still prob result in rejection for better credit offers. Does anyone know why it is still so low or is this Noddle score meaningless?


Thanks

Noddle is free because it's part of callcredit. Find someone that pays for this service & you will have found a fool :rotfl:

Noddle & Callcredit are utter nonsense.

Get a statutory report from equifax or experian if you want a hint at what lenders might actually think of you......or just chuck a stick in the air & see where it lands......:o

SnowTiger

ejc81 wrote: »

Noddle is free because it's part of callcredit. Find someone that pays for this service & you will have found a fool :rotfl:

Noddle & Callcredit are utter nonsense.

Get a statutory report from equifax or experian if you want a hint at what lenders might actually think of you......or just chuck a stick in the air & see where it lands......:o

Hmmm. My Noddle report contains the same information as my Equifax and Experian reports. All accurate as far as I know.

A quick scan of my Noddle report suggests that these "fools" pay for the service:

Moneysavingexpert
Barclaycard
Bank Of Scotland
Halifax

CreditCrunchie

Oh I forgot to mention that like Yorkshire boy, Noddle only show a few of my accounts - two to be precise, so not exactly accurate lol.

fawnsinthegarden

YorkshireBoy wrote: »

I signed up to Noddle last week.

My report shows 4 of my 6 overdraft facilities maxed to the hilt (all stoozed and making money from them so don't worry ) and totalling £17,500 (out of £26K available).

In addition, I have around £60K of available credit on credit cards and I'm using around £8K of it.

My Noddle score is 4/5. The fact that I'm so heavily using my overdrafts should tell them (incorrectly of course ) that I'm living beyond my means...yet they still say I'm 'good for the money'.

And that's (another reason) why these scores are meaningless!

Seeings as the 'credit scores' do not relate to credit worthiness, they relate to the healthiness of your credit report I'm confused why you would think the 4/5 would be incorrect? Seems about right to me assuming you haven't got adverse credit history. As they do not lend they aren't judging you on their lendability. It amazes me that people say that the score given is meaningless, it is meaningless if you think it relates to credit worthiness, it is not meaningless if you know it relates to the information in your report and is an indicator of how to make your report appealing, nothing else.

BrookesAndrew

Noodle has my report as all up to date. The only thing that isn't up to date is the searches on my report. It says I haven't had a search since middle of 2013. I have applied for quite a few things.

The_Boss

CreditCrunchie wrote: »

Oh I forgot to mention that like Yorkshire boy, Noddle only show a few of my accounts - two to be precise, so not exactly accurate lol.

Why is Yorkshire Boy showing some of your accounts?

CreditCrunchie

The_Boss wrote: »

Why is Yorkshire Boy showing some of your accounts?

I misread his post and thought he'd said they were only showing 4 of his 6 accounts sorry.