question about my credit rating

nelsons_column

So, recently had a credit card app turned down which surprised me a little. Didn't think any more of it, until I phoned up my current credit card provider to request a balance transfer, and that was declined too. So today set up an account with Experian.

My score is 487 and I am rated as 'very poor'.

Wondered what on earth did that as I assumed I'd have a decent credit record. For the record, I am using 44% of available credit.

For my financial record and negative factors - seems it's flagged up the following:
"- You have an account regarded as defaulted or delinquent
- You have no successfully settled credit account
- You have recent missed payments on your credit report"

Looking at my records, mobile phone, mortgage and one credit card company are marked as satisfactory. A second credit card company (that I haven't used in a couple of years) is blank, but clicking on it for more info, there are rows of green symbols going back three years.
Then there is npower. An account that has been closed since I moved out of the last property 9 months back. An account that actually (having logged in today for the first time since then) is £227 in credit. And I also have not received any contact from npower in that time. Yet they are marking me down as not making payment and presumably have defaulted the account (I'm guessing? There is no other red exclamation mark anywhere in my credit report)

See https://docs.google.com/file/d/0B_FCEApx-P8PSkxFU3lhWWJZQ2s/edit?pli=1 for what the npower bit says. I've written to npower today.

So, I guess my question is -
a) Is that what's causing my low credit score? Seems a relatively minor thing given big things like mortgage repayments etc are perfect, but maybe that's it.
b) To what extent will them correcting it (however that works) increase my credit score?
c) How long is this likely to take?

Thanks for any advice.

nelsons_column

Ooh, one other thing, in case it's useful - I updated my listing on the electoral roll register, but only around Easter time, I got a letter early May confirming this had been done.

[Deleted User]

Your credit score is irrelevant.

But do sort out the npower issue. Then just manage your accounts well going forward.

nelsons_column

Irrelevant to being declined for a new credit card and balance transfer?

If so, then what criteria do they use that isn't going to be in Experian? And how can I find out/do anything about that?

[Deleted User]

Irrelevant to everything.

Lenders use the data that is in the CRA reports (so you may want to check all three).

Your credit score is a made up number, that doesn't reflect how a lender will view you. They purely go on the information in your files and that you provide to them (such as income).

nelsons_column

Sorry, what is a CRA report? Can that be found in Experian?

[Deleted User]

CRA = Credit Reference Agency. Experian, Equifax and Call Credit (Noddle).

Not all lenders report to, or search, them all.

The_Boss

How many more times?

Tixy

The raw data on your credit report is important. The score that they will sell to you much less so.

If the npower account is showing as defaulted it will have a 'default date' showing somewhere with than credit account on your credit file.
If that account is showing as defaulted and/or a string of recent misssed payments then it is very likely enough to make a new potential lender decline an application from you.

nelsons_column

Thanks Tixy, zx. Will peruse further.