noddle credit score

mylastpound

Last week I paid my old cc that had a lingering balance of £600 off. Today I went onto the branch to close down the cc. When closing they asked if I would be interested in a 0% balance transfer. I said no, I don't have anything to transfer and I just want to close my cc off. Just goes to show my 2/5 Noddle score means nothing to a point lol

cos_2

I've had a 5/5 "score" with Noddle since I signed up until a few months ago. I transferred a big expense to a credit card to get an interest free deal, and this meant that my ratio of debt to available credit was well over 50%.

My "score" then dropped to 4/5.

Last month, I paid enough to bring the ratio to just under 50%, and my latest Noddle report (just a couple of days ago) is now showing a 5/5 "score" again.

I like Noddle's site, and see all of my debt history there, plus searches, etc.

But it's clear that the 5/5 or whatever thing is amazingly simplistic. My payment history is perfect (for the last 6 years, I hasten to add), but my current income is really low, so I know that all the loans/credit card offers they throw at me would be laughed at if I applied.

YoungTrafford

I love noddle... I can check every month for accounts that I haven't opened quickly and for free. The credit score they give me means little, but the accounts list gives me peace of mind, and for me they see/show everything. I've been from 2/5 to 5/5 and yoyo in that range based only on my credit utilisation for sure as they don't see that every penny of debt is matched in savings accounts ready for payment every month. My cards give me cashback, and the savings accounts give me interest at pitiful rates, but that's still better in my pocket! Rating is a tiny (so useless/insignificant) part of the credit approval rate. My overdraft shows up as zero balance even if I have a billion in that account, so before my credit cards my rating doesn't show even close to the full picture. I'm sure I could quit work and yet get my rating to 999 on all sites if I really tried... I'm sure I couldn't finance a Lamborghini based on it though!

savage80

Noddle have me at 2/5 which worried me when the only debt I have is £500 on a credit card really don't understand it,

thebritishbloke

savage80 wrote: »

Noddle have me at 2/5 which worried me when the only debt I have is £500 on a credit card really don't understand it,

There's people on here who have 2/5 and have no debt, but have an extensive full-payment repayment history. Others have 5/5 when they have £15,000 of debt on a car or personal loan.