New Vanquis card - credit rating now down!

Tammy2

LplateSaver wrote: »

I'm guessing Halifax gives free access to the full noddle score/noddle alerts.

It would appear so. I don't pay for it, but I am a Halifax customer. Not sure if it is available to non customers.

My out of 5 rating hasn't changed.

Tammy2

Looks like the score part is free for 12 months.
https://www.halifaxcreditchecker.co.uk/terms-and-conditions

Must remember to take check and action / cancel as necessary in good time! Although by the sound of it they automatically downgrade you. Makes a change.

Candyapple

Thanks Tammy, all these years of being a Halifax customer and I never knew they offered this service :rotfl:

LplateSaver

Candyapple wrote: »

Thanks Tammy, all these years of being a Halifax customer and I never knew they offered this service :rotfl:

Me neither. Already signed up to the basic version I wonder if I can sign up to that one too.

Edit: Just to update the answer is yes you can, guess I'll only have to wait 15 days for an update now ha

thebritishbloke

Haha, I never knew this. I just signed up for it and they've scored me a whopping score of 582, apparently due to "Number of new accounts" and "Limited time on electoral roll".

Funny really, I'll give them the new accounts one as I'm a bank incentive tart, but I've been on the electoral roll at the same address for 4 years, haha.

EDIT: Also funny, they never asked me to confirm that I'm a Halifax customer...

solentsusie

thebritishbloke wrote: »

Haha, I never knew this. I just signed up for it and they've scored me a whopping score of 582, apparently due to "Number of new accounts" and "Limited time on electoral roll".

Funny really, I'll give them the new accounts one as I'm a bank incentive tart, but I've been on the electoral roll at the same address for 4 years, haha.

EDIT: Also funny, they never asked me to confirm that I'm a Halifax customer...

The electoral roll thing is an odd one. I have also been registered at my address for over 4 years but I get marked down on that as well. Not sure how long you have to have lived somewhere before you become a low risk!

thebritishbloke

solentsusie wrote: »

The electoral roll thing is an odd one. I have also been registered at my address for over 4 years but I get marked down on that as well. Not sure how long you have to have lived somewhere before you become a low risk!

Well I've lived here for nearly 22 years, but they only count the electoral roll from when you're 18.

RMS2

Voltaire7 wrote: »

No one can really tell you why it has went down,

Yes they can, Noddle can, and they do.


They tell you, you have been marked down due to taking on extra debt/credit.

Nasqueron

I was 5/5

Took out a BT card which I pay just over minimum (about £25 a month more) to allow me to get interest free repayments on a new bike and some accessories - total available credit is about 50% of my salary.

Score went down to 4/5

Then got 0% finance deal on a brand new car for 24k with an 8k deposit (before anyone starts, I know full well what I am doing, intend to run the car for 10+ years like I did with last one so depreciation doesn't apply) without any hassle.

Score is now 3/5 - not sure if it will go lower again as I have just changed bank accounts to the Santander 123 one (passed their checks with no issue) but I have never missed a payment on a card for 15 years, never had a loan or any form of unmanageable debt.

I am sure when the car and BT card is paid off in 3 years it will be 5/5 again - still meaningless and still of no concern as I won't need any credit until 2018 when I might get a new bike if I feel like treating myself.

SnowTiger

Tammy2 wrote: »

I applied for a Vanquis card last month with the hope of improving my credit report.

However, my credit score with Noddle is now down by 8 points! This is especially confusing as an old outstanding debt that had been there for over a year (unbeknown to me until recently) has been cleared since last month's report. Is it the new card?

According to the report half the available credit on it had been used. (My first statement only came the other day and I have now paid it off in full).

Putting aside the meaninglessness of the score, it's not really surprising.

A credit search and a new line of credit will have a slightly and temporary negative affect on the way lenders view you.

The number will probably bounce back up next month.