Noddle

Gecko10

Just signed up and checked my file. I can't see that it's actually telling me anything but a credit rating of 1/5?

I thought it would list outstanding debts etc but can't see any of that, am I looking in the wrong place or is the £30 a year fee they advertise on there what is needed before I see anything ?

d70cw6

click the view full report green button

Gecko10

LOL!

How embarrassing it's right there in my face, thanks

ALHAURIN

these credit ratings are deficient and a bit of a scam - they do not have all your credit information, as some companies and banks do not give them your information - presumably using data protection as the reason. also they do not have your income, expenditure, property & savings profile - so how can they determine your credit worthiness. those living within their means with no debts are basically classified as a bad risk, when they are not - defamation of character!!!???

matttye

ALHAURIN wrote: »

these credit ratings are deficient and a bit of a scam - they do not have all your credit information, as some companies and banks do not give them your information - presumably using data protection as the reason. also they do not have your income, expenditure, property & savings profile - so how can they determine your credit worthiness. those living within their means with no debts are basically classified as a bad risk, when they are not - defamation of character!!!???

How can it be defamation of character when you are the only one who gets to see the "credit score" given to you by these companies??

It would be like you coming up to me and asking what I think of your creditworthiness, then saying it's defamation of character when I say I think you're a bad risk.

Hazzinho

The score is for you reference,no one else sees it, just ensure it all looks accurate.

ALHAURIN

to matttye & Hazzinho
your rating is based on the info. they have, therefore if it is incomplete, your rating will be poor and therefore you will be unable to sign up for credit e.g.. a mobile phone contract. There was a recent TV programme where a cash rich citizen was refused a £10 per month mobile phone contract because he had no debts.

[Deleted User]

Lenders base their decision on what is on your file. So if you have little history, you'll obviously be regarded as higher risk.

But whatever score you get given by a CRA is neither here nor there.

ALHAURIN

to zx81
my point is that if you have no debt or bad credit reports, why should the default position be considered a bad risk, on a par with a really bad debt ridden risk. what you are suggesting is that there should be no data protection and everything about you is out in the open. 1984!!!!
a few years ago, a man was refused a store card because he had no credit rating - the following day he bought the company!!!

d70cw6

noone gets to see your magic number score but you
they only see the factual info

[Deleted User]

ALHAURIN wrote: »

my point is that if you have no debt or bad credit reports, why should the default position be considered a bad risk, on a par with a really bad debt ridden risk.

I doubt if you are seen as being in a par with a really bad risk. But you can't be seen in the same light as someone with an established history.

ALHAURIN wrote: »

what you are suggesting is that there should be no data protection and everything about you is out in the open. 1984!!!!

How in the world am I suggesting that?