What your credit score really means

[Deleted User]

Probably a timing issue, and because all the scores are gibberish, whichever way you look at it.

Rothstein

Mine isn't, it makes perfect sense, goes up and down as one would expect ...

What IS wrong with yours ?, who do you work for ?

[Deleted User]

Nothing wrong with mine. It's a number, as it is meant to be.

But more relevantly, there is nothing wrong on my credit reports. No missed payments or defaults, balances paid in full, ER all correct and so on.

Rothstein

So you accept YOUR number is a true reflection of your credit worthiness ?

So why the constant dismissive comments about scores ?, what system would you like to see instead ?

Obtaining credit is a black art , and not all the simple rules apply

[Deleted User]

Rothstein wrote: »

So you accept YOUR number is a true reflection of your credit worthiness ?

No, Because it's just a number.

I am happy with the underlying system that is in place and actually used. Credit files and raw data.

Rothstein

It's a fluctuating number, a reflection of, in the same way bank references work, how else would you suggest they appraise your creditworthiness ?

childofbaahl

I'll have to look into the dates that the two numbers are generated, you are probably right that it's the fluctuating nature of my finances. Just seems weird that they bounce back and forth between the same two numbers all the time.

Ashan

I have applied for 2 simple bank accounts this week and got rejected for both.
Barclays first and then Bank of Scotland.
I have a credit card opened 14 months ago with a limit of £800 and a credit shopper account opened by very (my mistake) of £750 opened about 4 months ago which hasn't been used.
Should I cancel the very account as the max credit is right now 800+750 almost 85% of my monthly income, or should I leave it there dormant?


I understand now that they might have refused my application because I wasn't born here, and because although lived here for more than 5 years, I have been living at the current address for just 2.4 years and with my employer just for 13 months.
I remember when I opened my first Barclays account online, the employee there, upped my numbers in the application only so that I can get accepted.
Now that I have been refused, what should I do? I don't want the Barclays account that much, but I need the BOS one for Vantage.
Should I apply in the branch?

john2054

write a notice of correction, steve, to have this addressed.

john2054

use the credit cards you have at the moment. If you have credit, and you aren't using it, it is as good as having none, im afraid!