Help improving/understanding my Noddle rating

Rkr87

Hi all,

I signed up for the free Noddle account today and I don't really understand the rating I've been given, I currently have a 3 out of 5 rating according to Noddle, is this good? Because it seems pretty average for an out of 5 rating.

A few details about me which lead me to believe I should have a better rating.

- I've had and used a credit card every month for the last 5-6 years, I've never had a missed or late payment on the card, I've paid the balance in full every month and I've never gone over 50% of my credit limit

- I've had a mortgage for the last 3 years, again never had a late or missed payment and not sure if it makes a difference but I make regular over-payments.

- I have several other long-standing (3~ years) direct debits that again have never had a missed or late payment.

- I've had the same current account for the last 16 years and never gone in to my overdraft.

- I've been on the electoral roll since I was 18 (I'm now 27).

From the way I see it there are no negatives about the way I've handled my money/accounts so I don't really understand why I only have a 3/5.

Can anyone shed any light and maybe offer any advice on how to improve my score?

Thanks.

DCFC79

Don't worry about the 3/5 score as lenders don't see it so meaningless, what matters is what's on your file eg defaults but in your case that don't apply to you.

n15h

Rkr87 wrote: »

Hi all,

I signed up for the free Noddle account today and I don't really understand the rating I've been given, I currently have a 3 out of 5 rating according to Noddle, is this good? Because it seems pretty average for an out of 5 rating.

A few details about me which lead me to believe I should have a better rating.

- I've had and used a credit card every month for the last 5-6 years, I've never had a missed or late payment on the card, I've paid the balance in full every month and I've never gone over 50% of my credit limit

- I've had a mortgage for the last 3 years, again never had a late or missed payment and not sure if it makes a difference but I make regular over-payments.

- I have several other long-standing (3~ years) direct debits that again have never had a missed or late payment.

- I've had the same current account for the last 16 years and never gone in to my overdraft.

- I've been on the electoral roll since I was 18 (I'm now 27).

From the way I see it there are no negatives about the way I've handled my money/accounts so I don't really understand why I only have a 3/5.

Can anyone shed any light and maybe offer any advice on how to improve my score?

Thanks.

You don't have anything to worry about. I have been using Noddle for the last 2 years and it has never moved from 3/5 even though I opened 2 credit cards to improve my score.

From what you've stated about your payment history and management of credit, you seem to be doing well and as you said, there are no negatives. I would suggest you review the searches made on your credit file and make sure there are no surprises there! If there are, it may be advisable to get in touch with the company(s) in question.

Remember, all lenders will score you differently. You may even notice your credit score at Experian could be much different to that of Noddle e.g. Experian may view your credit score as 'Good'.

So carry on what you're doing and remember the score is just an indicative score (not actually real - just like the difference in the APR on an example loan quote and a loan quote after you've been credit scored).

Rkr87

Hi all,

Now I'm completely perplexed. I took on board the advice offered above and just chose to accept my 3/5.

I've just checked my October Noddle report and they now have me as a 2/5. I really don't understand this as nothing has changed in the last 9-10 months except that I changed my current account to another provider in March which hasn't had any effect on my previous Noddle reports.

Everything I stated in my original post still holds true.

Is it worth paying the £30 to get the "Noddle Improve" feature to find out exactly why my rating has gone down? I was struggling to understand why it wasn't going up, I see no good reason for it to have gone down.

Thanks.

[Deleted User]

Do not pay for their extra service, it's a waste of £30 and unless Noddle are suddenly in the business of lending money, their opinion aka score is irrelevant. Nobody ever sees it, it is just marketing bumpf.

All that matters is the information in your history, which is seems sound. Don't fall for their marketing ploys.

[Deleted User]

This is exactly why you were told to ignore the score. You've done nothing that would worry a lender, yet they've scored you down.

Now this time, ignore it, or I'll get them to score you a 1/5.