My Credit Report with experian

rio85

Hi everyone,
for a first time i seen my very bad score today(543) and i need some help with it.
on the account info i can see this:

HUTCHISON 3G UK LT... Communications Satisfactory £0 05/10/2014

O2 Communications Satisfactory Settled 21/10/2012

LOWELL PORTFOLIO I... Communications Default £810 03/11/2013

NATWEST BANK Current Account Satisfactory £0 07/09/2014

what they are meaning? i have been declined for mobile contract recently that's what i check my scoring
what i need to do to be accept for contract? i have my new capital one card(secured credit builder) and buy a 3 sim only plane (direct debit) and im gonna use EE fiber broadband to take money(£40) with direct debit too.

MadProf

rio85 wrote: »

what they are meaning?

First of all, ignore the score. It's meaningless. UK lenders look at your overall credit history and have their own internal lending criteria to decide whether to grant you credit or not. You will have difficultly being granted new credit because of the default. See below.

rio85 wrote: »

HUTCHISON 3G UK LT... Communications Satisfactory £0 05/10/2014

The account is in good standing with the creditor. No arrears or defaults.

rio85 wrote: »

O2 Communications Satisfactory Settled 21/10/2012

You've successfully settled this credit agreement (paid it off in full according to the contractual terms). This is positive information for other potential lenders.

rio85 wrote: »

LOWELL PORTFOLIO I... Communications Default £810 03/11/2013

This is the bad apple. You defaulted on a credit agreement in November 2013 (you failed to meet the repayment obligations and let your account go into arrears) and subsequently the lender has placed a mark against your credit record. This is negative and is why you got declined for your application. It shows that you cannot be entrusted with credit as you've failed to honour a previous credit agreement. Pay the debt off - it'll still be on your credit record for ~5 more years but at least it'll look better if it shows that it's been paid.

rio85 wrote: »

NATWEST BANK Current Account Satisfactory £0 07/09/2014

The account is in good standing with the creditor. No arrears or defaults.

rio85

thanks, i will contact default one to pay installment.