2 totally different credit ratings

gemsyuk03

So I am saving really hard, as hopefully want to get my first mortgage at the end of the year.


Registered with Noddle a little while ago, my credit rating is 1/5.. Registered with the Improve bit of the site for £20 a year, and mine is 536.


Just registered for a 30 day free trial with Experian, and it says a score of 931 and Good? Which is more reliable.


I have a couple of credit cards and an overdraft which I have never missed payments on, and am trying to clear in total.

MrSilk

Neither are reliable, it's just a made up number of now Noddle/Experian see your report, do they lend you money?, no - So don't take it as gospel!.

Each lender scores you differently, using more information than Noddle/Experian hold, they also take into account take at address/bank, savings, salary, how long you've been in your job and also how many contact numbers you provide them.

x

d70cw6

i wouldnt have sign up for their credit improve service if i was you - any way to cancel it and get a refund?

Tixy

A potential mortgage lender will likely search all 3 credit reference agencies. So assume they will see the statutory data on all 3 reports.

Forget the scores/ratings that the agencies sell you and have a look at the data that appears on the reports (don't forget to also look at the closed account data as well as open account data on your files).

As a starting point - is all the information accurate?

Are you on the electoral roll and is this correctly shown with each agency file?

Is there anything you don't recognise on your file (aliases/addresses/financial associates/credit accounts etc)

Experian_company_representative

Hi Gemsyuk03

Each credit reference agency can hold different information on their reports, as some lenders only share information with specific agencies.

The agencies will also have their own method of scoring so even if the information is the same they may rate it differently.

As Tixy has mentioned a good starting point is to make sure that everything that is recorded is correct. If there is anything you disagree with contact the agency or lender so they can help sort it out for you.

If you are applying for a mortgage making sure that you are happy with your reports before you start applying is always a good idea!

Kind Regards
Neil