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What is the problem with my credit?
mistrey
Posts: 138 Forumite
Hi all,
Just looking for some advice, I have (after managing to finally get Virgin Mobile to remove an inaccurate default) enjoyed what I thought was good credit for over a year. In fact my equifax file shows me as being in the top 20% of the country (or something like that). I have never missed a payment or defaulted or been late on a payment anywhere.
I used to have a tesco club card and a barclaycard which I paid off in full over a year ago and closed the accounts. I have a next store card with about £50 on it but a £5,000 limit (didn't realise they'd raised it that high, just rang and got it reduced to £2,000).
I have 4 mobile phones on contract, a little woods account with no spends against a £2,000 limit, 2 current accounts both with overdrafts that I don't use all the time and I took out a loan to but a new car before Christmas, which I have been paying no problem.
I am on the electoral role and have been for years, I have lived in the same house for over 7 years. I haven't applied for any credit since September when I applied for and took out my £9,000 car loan. My annual income is in excess of £40,000 I recently applied for a Santander 123 card (thought I could use it and get cash back) and it got turned down. They told me they had checked my Experian account to make the decision, so I went on there to have a look.
Experian rates my credit as fair!! There are no negative things on it, it suggests nothing to improve my credit or anything that is harming it.
What is the problem here? I don't understand how they can be so different with exactly the same information.
Just looking for some advice, I have (after managing to finally get Virgin Mobile to remove an inaccurate default) enjoyed what I thought was good credit for over a year. In fact my equifax file shows me as being in the top 20% of the country (or something like that). I have never missed a payment or defaulted or been late on a payment anywhere.
I used to have a tesco club card and a barclaycard which I paid off in full over a year ago and closed the accounts. I have a next store card with about £50 on it but a £5,000 limit (didn't realise they'd raised it that high, just rang and got it reduced to £2,000).
I have 4 mobile phones on contract, a little woods account with no spends against a £2,000 limit, 2 current accounts both with overdrafts that I don't use all the time and I took out a loan to but a new car before Christmas, which I have been paying no problem.
I am on the electoral role and have been for years, I have lived in the same house for over 7 years. I haven't applied for any credit since September when I applied for and took out my £9,000 car loan. My annual income is in excess of £40,000 I recently applied for a Santander 123 card (thought I could use it and get cash back) and it got turned down. They told me they had checked my Experian account to make the decision, so I went on there to have a look.
Experian rates my credit as fair!! There are no negative things on it, it suggests nothing to improve my credit or anything that is harming it.
What is the problem here? I don't understand how they can be so different with exactly the same information.
Wins 2009:Total : £2500 :j
First they came for the crack users; but I said nothing. I was not a crack user. Then they came for the heroin users. But I said nothing - I was not a heroin user. Then they came for me. There was no one left to speak for me. (after Pastor Niemoller)
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Comments
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Oh dear, not again!
There are countless threads on here about the meaningless of the pointless Experian, Equifax and Noddle ratings. I can't be bothered to type the usual so just do a search or even look at the threads on the front page of this board and you will find the answer.0 -
Duplicate post. RemovedWins 2009:Total : £2500 :jFirst they came for the crack users; but I said nothing. I was not a crack user. Then they came for the heroin users. But I said nothing - I was not a heroin user. Then they came for me. There was no one left to speak for me. (after Pastor Niemoller)0
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Yes I know this. I have actually read these boards so there is no need to be rude. I am asking what is wrong with my credit rating. Are there any obvious things that jump out at people.
If you can't be bothered to answer why reply?
I am not actually bothered about having a credit card but I would like to buy a house soon so I need to sort out what is wrong with my creditWins 2009:Total : £2500 :jFirst they came for the crack users; but I said nothing. I was not a crack user. Then they came for the heroin users. But I said nothing - I was not a heroin user. Then they came for me. There was no one left to speak for me. (after Pastor Niemoller)0 -
It could be the amount of credit already available to you.Total Debt April 2014 = £6756
Target = Clear by [STRIKE]April 2017[/STRIKE]October 20160 -
Yes I know this. I have actually read these boards so there is no need to be rude. I am asking what is wrong with my credit rating. Are there any obvious things that jump out at people.
If you can't be bothered to answer why reply?
I am not actually bothered about having a credit card but I would like to buy a house soon so I need to sort out what is wrong with my credit
You can't have read this board as it is littered with posts about those 'score' or 'ratings', how they don't actually exist outside of cloud cuckoo land and how meaningless they are in the real world.0 -
It could be the amount of credit already available to you.
Unused credit? I do have a lot of that. I have already been on the phone to Littlewoods and next to lower my LimitsWins 2009:Total : £2500 :jFirst they came for the crack users; but I said nothing. I was not a crack user. Then they came for the heroin users. But I said nothing - I was not a heroin user. Then they came for me. There was no one left to speak for me. (after Pastor Niemoller)0 -
Get copies of all three reports and analyse what's on there.0
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Unused credit? I do have a lot of that. I have already been on the phone to Littlewoods and next to lower my Limits
From what i have read on the forum close any credit accounts you dont use.
If you dont have any missed payments or defaults, ccj's etc then there isnt a problem with your credit it's due to Santander's scoring that you have been declined.Total Debt April 2014 = £6756
Target = Clear by [STRIKE]April 2017[/STRIKE]October 20160
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