Bit baffled - could use some help!

sarahlouisexo

Hi all,

I'm a newbie to this, so please bear with me. First, I've read the guide, of course, and understand that credit rating sites are based on incomplete and subjective information. However,

I used Noddle to have a look at mine, which is free, so I've not been ripped off! I got a rating of 3/5, but this has dropped to 2/5 with no reason (that I can see), but I expected it to be higher! I don't particularly see whats on my account thats so...not great?

I've got:
1 current account, student, currently about £1100 overdrawn, but has been in credit from January through June.
1 student credit card, currently owe about £271 on it, pay every month, at least twice the amount necessary, sometimes triple.
My car, about £8000 owing, had it since December and never missed a payment.
Next account, £50 quid on it, missed one £9 payment on it last month because of a bereavement - had no idea what date it was or that the money was even due. My fault, I know!

About two years ago, heady with the student life, I took out a fair few Wongas and Quick Quids, over about a 5 month period, for about £500, which were paid back, and not defaulted on at all. The only other searches on my account are from Lloyds bank when I was thinking of opening an account, and Car insurance companies.

I've always had a job and paid in between £200 and £600 a month to my account (part time work) so why isn't my score higher, and what can I do to improve it and have really good credit?

I graduated in July and I've just started my first graduate position so I'll be pulling in about 1300 a month, if that information helps anyone. I was wondering whether your job had any impact also...now that I'm an education opportunities officer, does that make my rating better than when I was a student/sales assistant?

Thanks in advance, sorry its long

[Deleted User]

Ignore the score. It's irrelevant and not seen by anyone but you. Simply manage your credit responsibly.

Stay away from the payday loans, don't miss anymore payments and get out of the overdraft.

Dobbibill

I agree with zx81 the score is irrelevant. This is what the credit referencing agency think of you and estimate this is how you MAY be viewed. The CRA's do not sell products though so is a pointless figure.

payday loans will not look good as this will indicate you are unable to budget your income.

missed payments whether they are £9 or £90 are missed payments and will show as missed on your report.

Try to make all your payments on time. This will hopefully help to repair and improve things in time.

Good luck

DB

solentsusie

I haven't found Noddle to be the most reliable of the credit reference agencies. If you are worried about what information is held on you (ignore the score as you know these are made up by the agencies to get you to buy into their services) then get your files from both Equifax and Experian as well.


My Noddle score goes up and down all of the time and they don't hold half of the information that I find on my Experian and Equifax files.


As you have already been advised, make sure all your payments are on time and up to date and that you are on the electoral roll etc. Avoid payday loans like the plague as well.


Good luck!