Credit Check

scottybowl

At the moment i'm monitoring my credit status through an online service. With Equifax and Callcredit my credit rating is 750+ but with Experian its stuck on 365. I've looked at the info and I think the reason it's so low is that no credit checks have been made through Experian (I apply for credit cards every 2 months to keep the search level high, but apparantly the ones I've applied for arent with Experian)

My Question: Is there a service out there that I can pay to perform a credit check on Experian? Eg I pay them £50 and they perform a credit check once a month so that my credit score will increase (0 searches gets interpreted as bad)

I'm looking to get a mortgage soon so I want to get my credit rating as high as possible

nickmack

scottybowl wrote: »

(I apply for credit cards every 2 months to keep the search level high, but apparantly the ones I've applied for arent with Experian)

My Question: Is there a service out there that I can pay to perform a credit check on Experian? Eg I pay them £50 and they perform a credit check once a month so that my credit score will increase (0 searches gets interpreted as bad)

Each financial institution use their own formula to score you, but generally having a 'high' search level is not going to help your rating. The more you apply for credit, in most lenders eyes, the more 'desperate' you are and the more they penalise you.

I suspect your actions have had the opposite effect to what you hoped. Experian is the most popular agency and used in the majority of credit checks. By keep applying, you've probably lowered your 'score'. Have a look at this table:

http://www.moneysavingexpert.com/cards/credit-reference

scottybowl

Well, the problem is that my experian record shows 0 searches...

Obviously once a month is too much, but i need to have some searches (0 searches has put me into the "bad" section"). The average they are looking for is 5-10 searches per year.

The other two agencies are looking good, theyre right in the middle in the "green" rating, giving me the highest score for that section. Experian is the exception.

Its a shame so many people use experian as the amount of information it uses is very limited and so the results can become very skewed if one of them isnt up to scratch

jonnyb

Scotty, it is the performance of credit accounts that really affects your credit score. Have you got any credit accounts showing on your Experian report ? Are you on the voters roll ?

The absence of searches is not a bad thing at all; too many searches in a short space of time definitely is.

All the other agency reports are indicating with their "green" rating for previous searches is that the number is not too many.

As nickmack said, the score they give you is pretty irrelevant, as every lender has their own criteria.