remaining available credit

JonoWilliams

How do the likes of check my file etc figure this one out when then know sod all about your earnings? All the credit checking websites I'm a member of say I've 0 available credit?

Bit worrying as I would like to attempt to get a car on finance sometime in November.

Archi_Bald

They will use the data they receive from banks. The remaining credit is specific to your account(s).

If your credit files show no late/missed payments, you will be fine (assuming your current address is registered, you are on the electoral roll, and have no other markers or associations with people with bad credit histories).

JonoWilliams

Archi_Bald wrote: »

They will use the data they receive from banks. The remaining credit is specific to your account(s).

If your credit files show no late/missed payments, you will be fine (assuming your current address is registered, you are on the electoral roll, and have no other markers or associations with people with bad credit histories).

Does that mean the banks share my data as in how much I have going in every month?

I have no missed payments, no late payments and from earlier this month No defaults. So my file should look squeaky clean! But I've not had anything on finance since 2008 until last year which could go against me.

matttye

'available credit' refers to the amount of money you can borrow from the companies you have a financial relationship with. It doesn't refer to the amount of money you have in your accounts.

E.g. say you have £1,000 in a current account and have a £500 overdraft available, your credit report will say that your available credit for that account is £500.