what a joke experian and apple finance are.

tinkerbell28

This is the 2nd thread op has made. The op is an ex bankrupt and it's still on file. I reported it here so when anyone looks up experian's score. They will see what a rip off it is. A person with bankruptcy on file, scores this high with experian, then is left wondering why on earth he's been declined.

As the ridiculous score gives a false sense of credit worthiness. The clue op will be in the bankruptcy.

It's more than a couple of little defaults, it's the biggest, black mark you can have. Although Experian have led you to believe otherwise.

The_Boss

tinkerbell28 wrote: »

This is the 2nd thread op has made. The op is an ex bankrupt and it's still on file. I reported it here so when anyone looks up experian's score. They will see what a rip off it is. A person with bankruptcy on file, scores this high with experian, then is left wondering why on earth he's been declined.

As the ridiculous score gives a false sense of credit worthiness. The clue op will be in the bankruptcy.

It's more than a couple of little defaults, it's the biggest, black mark you can have. Although Experian have led you to believe otherwise.

Wow.

I already said this was another example (defaults) of why the score meant nothing, but this is even more extreme.

Thrugelmir

Rrushi_Shqiptar wrote: »

I checked my experian report etc showed a score of 964, so I applied for an apple laptop. I was rejected by apple stating tht they have taken into consideration experians score and info about me, so it does show its worth diddly squat this scoring, If I am 964/1000 average allegedly being 808 whats going on?.....did I post it in the right place?

Experian don't provide credit, finance houses do. So they'll decide whether your credit history along with other personal data meets their criteria.

Experian just hold data.

Gentoo365

it's not a random number

The_Boss

Gentoo365 wrote: »

it's not a random number

Care to expand upon that point?

BillJones

GingerBob wrote: »

Quite. Unfortunately the majority of lenders and the CRAs don't move with it. And if they had access to your credit data from 20 years ago, and it showed a default, they'd probably reject you just the same.

The system is broken, and to a large extent the lenders are the losers

OP is an ex-bankrupt with defaults on his file, yet you think that a company is losing out by not lending him money?

I'll just say that I disagree, and that this is clearly an example of the system working as it should.

Gentoo365

The_Boss wrote: »

Care to expand upon that point?

A random number would be selected at random from a list of numbers and have no predictability.

The score is neither random, nor arbitrary. I would imagine that the credit score will correlate with application success if you took a sample of all applications made.

You are making a good and valuable point regarding reliance on the credit score. However it is a complete exaggeration to say it is random and meaningless.

adindas

Hi guys.
I have have initiated a new thread to catch the experian reps eye

https://forums.moneysavingexpert.com/discussion/5040804

So it seems it has been confirmed that people with "Bankruptcy" and several defaults could still get an excellent score ...

Draw your own conclusion ....

adindas

Gentoo365 wrote: »

.....
You are making a good and valuable point regarding reliance on the credit score. However it is a complete exaggeration to say it is random and meaningless.

I could see where you are coming from. But for people with Bankruptcy, it is also a complete exaggeration to get a score of 964/1000.

It is a fact that almost all lenders (if not all) will not touch people with bankruptcy with a barge pole.

The_Boss

Yep - great example. And what about all those with defaults and CCJs with "Excellent" scores in the high 900s whereas those with unblemished records having much lower "scores"?