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What your credit score really means

edited 9 January 2019 at 3:57PM in Credit File & Ratings
377 replies 208.8K views
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  • The_BossThe_Boss Forumite
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    No threads with questions about credit scores today :) bumping this to the top may mean we manage to go a day without one!
  • GingerFurball_2GingerFurball_2 Forumite
    990 posts
    Debt-free and Proud!
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    My credit score with Noddle is 3/5.

    This is meaningless when I apply for products with my own bank (BoS) because their view of me is somewhat better.
    DEBT FREE!

    Debt free by Xmas 2014: £3555.67/£4805.67 (73.99%)
    Debt free by Xmas 2015: £1250/£1250 (100.00%)
  • The_BossThe_Boss Forumite
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    My Noddle "score" is now 2. 2 of what I don't know.
  • The_BossThe_Boss Forumite
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    Shame people don't seem to listen to nice Helen Saxon :(
  • B_G_BB_G_B Forumite
    502 posts
    My “rating" as given on Noddle varies month to month. The only figure on my report that varies is the balance on a credit card, that is paid in full every month. This card is used for supermarket shopping and the amount outstanding can vary dependant on the date that card balance is reported / the date of the bill, which can vary by a couple of days (which would appear to be close to reporting date), and lastly, the amount of my grocery spend for the month.

    The bill date and reporting date are out of my hands. The only influence that I have on the rating at the moment is cost of monthly shopping. I could raise the Noddle number. The downside is that my belly would rumble more. Just my own example of how meaningless these figures are.

    Footnote….. I only mention Noddle because it is free and on the first page when I log in.

    Just had a thought….. I could pay for some different scores using the same card and maybe knock my Noddle one down a bit….. Don’t think I’ll bother.
  • well looking at my "scores" 925 Experian, 307 Equifax and 1/5 Noddle.

    load of rubbish really, Noddle so slow to update anything at all, Equifax are also slow but not as slow and Experian are pretty quick to change it.

    All seems to depend on what my CC balance is at the time of update, I use it for fuel and the odd treat, all paid of in full either before the statement date or when they call for the DD.

    I am still battling to get some of the info updated but Noddle are working so slow. All show different accounts and details.

    So what it really means? Not a lot from what i can see as B_G_B points out seems to depend on the balance of the card when they update their records, so not much you can do i suppose
    I love green dots :T I hate red dots :mad:
  • The_BossThe_Boss Forumite
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    Time for nice Helen's thread to be bumped again...
  • The_BossThe_Boss Forumite
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    There hasn't been a new "my credit score is <blah blah blah>" thread today yet :) Hopefully bumping Helen Saxon will keep it that way.
  • The_BossThe_Boss Forumite
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    And now it's a sticky - woo hoo :) :beer: :money:
  • The_BossThe_Boss Forumite
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    Is it possible to bump a sticky?
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