Still Refused with an "Example" score and history

itigeezer

I will keep this opening post brief but I'm happy to provide further details should anyone wish, thank you in advance.

I have checked my credit files for free using the MSE giudes, everything seems to be in order, I have never missed any payments..ever! I also have no court judgments or criminal records and have been on the electoral role for six years.

I know scores can be misleading but as a base my scores across all three file checkers range from 850-999.

However, I have been refused credit twice in the last six months for quite small purchases, relatively speaking.

Maybe there's is something I'm missing, can somebody help?

Thrugelmir

Your application could be declined for any number of reasons. Not just your credit file history. For some reason you don't meet the finance house criteria. If there's something you wish to buy. Obtain a small loan from your bank. This would help improve your overall rating.

Tixy

Do you have any financial associates showing on your credit file? might some of them have issues on their files?

Potential lenders consider far more information than information held at the credit reference agencies. Are you currently earning for example?

Do you relatively high debts compared to your current income?

What type of credit have you been declined for?

itigeezer

Do you have any financial associates showing on your credit file? might some of them have issues on their files?

Associated with my partner as we have the mortgage, joint account and share the same address. She doesn't have any known issues with her file etc.

There is an irregularity with the equafax file related to me and my dad sharing the same name. I made a hire purchase, according to them, when I was 4 yrs old. Obviously I will sort this.

Potential lenders consider far more information than information held at the credit reference agencies. Are you currently earning for example?

FTE £32k+ partner about the same

Do you relatively high debts compared to your current income?

CC £6000 balance (£8,900 limit)
Car on hire purchase £300 p/m (45 months remaining)
Mortgage £79k
Mobile £30
Virgin bundle £55

What type of credit have you been declined for?

Switching my mobile phone contract to O2
John Lewis partner cc to o% a mattress over 6 months

Many thanks

Thrugelmir

itigeezer wrote: »

CC £6000 balance (£8,900 limit)
Car on hire purchase £300 p/m (45 months remaining)

There's your answer. Your existing credit commitments.

itigeezer

Thrugelmir wrote: »

There's your answer. Your existing credit commitments.

would the above credit agreements be classed as "un-secured" in your opinion? i.e. not secured against the property

Tixy

I doubt that your existing commitments would be the reason for a decline for a mobile contract with o2.

Which of your files did o2 search?
Have either you or your partner had any past accounts with o2?

itigeezer

Tixy wrote: »

I doubt that your existing commitments would be the reason for a decline for a mobile contract with o2.

Which of your files did o2 search?
Have either you or your partner had any past accounts with o2?

both o2 and JL searched my equifax file, which currently scores at 525.

Thank you

Tixy

So they both searched the file that has some incorrect information on it?

It would seem likely that the error could be the reason for the decline. As you say you need to sort that out and get the incorrect entry removed from your file.

JimmyTheWig

I'm confused...

itigeezer wrote: »

as a base my scores across all three file checkers range from 850-999.

itigeezer wrote: »

both o2 and JL searched my equifax file, which currently scores at 525.

That's significantly outside the range first mentioned!

And...

itigeezer wrote: »

There is an irregularity with the equafax file related to me and my dad sharing the same name. I made a hire purchase, according to them, when I was 4 yrs old. Obviously I will sort this.

Good plan to sort it (probably best to sort it before you apply for more credit) but I take this to mean that your dad made a hire purchase agreement when you were 4 years old and somehow it has got onto your report. But if this was at least 14 years ago, why is it still on there?

itigeezer

JimmyTheWig wrote: »

I'm confused...


That's significantly outside the range first mentioned!

apologies i think I must off took the score form check my file where it does state 860, but on equifax it is listed as above, but still rated as excellent and above the UK avergare??

And...

Good plan to sort it (probably best to sort it before you apply for more credit) but I take this to mean that your dad made a hire purchase agreement when you were 4 years old and somehow it has got onto your report. But if this was at least 14 years ago, why is it still on there?

Correct, or that what it appears to be. I will be ringning round on monday to get it removed and also reducing the limit on the credit card I have as I don't use it. Thanks for you help and I'll update once I have more.

I apolo