Poor credit score no real explanation

wrestleuk

Hi guys I'm not sure if anyone will be able to she some light on this

I'm 28 working part time (same job for about 5 years)
My current credit score is 405 I have never had a credit card never had any defaults or any ccjs

I was once one month late paying my argos (which was there fault as they didn't request the DD and I had the late payment charged reimbursed)

Anyway I never knew I had a problem until I tried to get a small loan off the back recently to buy my first car and I was refused and told to check my credit score

So I did and it was only 225 they didn't offer me any explanation for why it was so low (although they said I wasn't showing on the electoral roll even though I had registered the day we moved house about 10 months earlier

Eventually they accepted I was on the electoral roll and gave me an updated score of 405 which they say is ok but from what I've read it still sounds quite poor

I do have a credit history don't get me wrong but I've always paid what I owe and can't understand the poor score at all

My credit report came up with my current bank account which comes with an overdraft (that I'm not nor have ever been in
2 old contracts I had years who which were never behind and closed when they ran out

My sky subscription, my argos card (which had around a 2k credit limit of which I currently owe around £600 and pay a monthly dd)
Last thing on my credit file was my current phone contract which is once again up to date without any problems

It doesn't seem like there anything I can do to up my score but my bank who I've banked with since I left school day my score is too low to get a loan

Anyone who can offer any advice it would be greatly appreciated

Thrugelmir

Why no previous electoral roll history? There's no reason not to have a full 6 year history on file.

wrestleuk

I was on the electoral roll I had lived in my previous address for 8years and was on the roll there I moved last year and registered the day I moved in but exuifax at first were saying I wasn't on at the new address even though I had sorted it about 10 months earlier

They later corrected this and gave me the 405 score having earlier oy scored me 225

The_Boss

You don't have a credit score, so that's one explanation for a 'poor' score - it's a made up number.

Tixy

Have your credit file with all 3 credit reference agencies (not the score but the actual file).

If there was an electoral roll error on 1, have you checked whether this is replicated on the other 2?

Do you know which agency(ies) your bank did the credit application search on?

wrestleuk

I've today signed up for the free credit report with noddle on there it confirms I'm up to date with all my commitments and have never had a default or ccj but even that scores me as poor 2/5

I just don't understand it I'm a good payer have a steady job I have no history of not paying what I owe so I don't understand why I'm scored so low

Hazzinho

The score means nothing, just ensure the data is correct.

wrestleuk

I think people are missing the point I'm trying to raise here regardless of oh important the score may be I'm trying to get to the bottom of why I'm scored so poorly

I'm being turned down for a small loan and/or car finance to purchase my first car and the reason I'm being given is it's due to my credit score

REDDDRAGGON

wrestleuk wrote: »

I've today signed up for the free credit report with noddle on there it confirms I'm up to date with all my commitments and have never had a default or ccj but even that scores me as poor 2/5

I just don't understand it I'm a good payer have a steady job I have no history of not paying what I owe so I don't understand why I'm scored so low

I have exactly the same problem. 2/5 on Noodle, no dodgy past! It's bizarre!

MEM62

No, you are not being declined because of your poor credit score - you are being declined because of your credit history.

As for getting to the bottom of it, the biggest issue you have there is not being on the electoral records. Once that is resolved you should not have any issues.

Tixy

wrestleuk wrote: »

I think people are missing the point I'm trying to raise here regardless of oh important the score may be I'm trying to get to the bottom of why I'm scored so poorly

I'm being turned down for a small loan and/or car finance to purchase my first car and the reason I'm being given is it's due to my credit score

When did you apply for a loan/car finance? before or after you corrected the issue with the electoral roll on the credit file you looked at?
Have you checked that same agency file since to see if that was the file that the potential lender searched?

They may have searched one of the other credit reference agencies - so have you checked your files with all 3 and ensured all 3 show you being on the E/r?

Have you checked all 3 credit files to ensure that the data on them all is correct?

How many recent applications have you done to try to get a loan for the car?