High Credit Score + Default Account = Mistake???

Fragrant_Harbour

After signing up to Experian and entering my data, I'm left with a funny result. I have (what I believe is) the highest credit rating - 999.

This makes sense - I've been well behaved for the last 5 years - but I also have an account that was marked as "Default" back in late 2010.

How can I have a credit score of 999 with a defaulted account on record? I'm looking to apply for a mortgage at the moment and I'm concerned that I might be rejected because of the default, even with such a good score.

Thanks!

kirstybum

The score means nothing, each lender has its own criteria that they want you to fit which they don't seem to publicise. The experience credit score is just something they sell to you

[Deleted User]

Log on to all 3 CRA's... your info could differ wildly as I found stuff not reported to Experian... but was indeed reported to Call Credit and Noodle..... it actually filled a lot of gaps logging into these two

Zenboor

Fragrant_Harbour wrote: »

After signing up to Experian and entering my data, I'm left with a funny result. I have (what I believe is) the highest credit rating - 999.

This makes sense - I've been well behaved for the last 5 years - but I also have an account that was marked as "Default" back in late 2010.

How can I have a credit score of 999 with a defaulted account on record? I'm looking to apply for a mortgage at the moment and I'm concerned that I might be rejected because of the default, even with such a good score.

Thanks!

Perhaps the formula used by Experian doesn't take into account old defaults?

Fragrant_Harbour

Thank you guys!

nottoolate

Zenboor wrote: »

Perhaps the formula used by Experian doesn't take into account old defaults?

its useless whatever it does.

complete rip off and con

Malmo

Fragrant_Harbour wrote: »

After signing up to Experian and entering my data, I'm left with a funny result. I have (what I believe is) the highest credit rating - 999.

This makes sense - I've been well behaved for the last 5 years - but I also have an account that was marked as "Default" back in late 2010.

How can I have a credit score of 999 with a defaulted account on record? I'm looking to apply for a mortgage at the moment and I'm concerned that I might be rejected because of the default, even with such a good score.

Thanks!

Hi Fragrant Harbour,

The scores provided by the 3 main agencies are meaningless and are not seen or visible to anyone other than the agency and you.

In the UK, individuals are not assigned a universal or central credit score (they are in the USA though, I believe). Lenders use information held by the agencies, supplemented with information from other sources (such as wage slips, if applying for a mortgage) to evaluate customers based on the lender's own criteria/rules that determine their ideal customer. So pay no attention to the scores generated by the agencies as they are not used or seen by lenders.

If you need access to your reports, just obtain the statutory report from each agency, which costs £2. You do not need the score as it is immaterial.

Experian Statutory Report

Equifax Statutory Report

Callcredit Statutory Report

Experian_company_representative

Hi Fragrant Harbour

Fragrant_Harbour wrote: »

After signing up to Experian and entering my data, I'm left with a funny result. I have (what I believe is) the highest credit rating - 999.

This makes sense - I've been well behaved for the last 5 years - but I also have an account that was marked as "Default" back in late 2010.

How can I have a credit score of 999 with a defaulted account on record? I'm looking to apply for a mortgage at the moment and I'm concerned that I might be rejected because of the default, even with such a good score.

Thanks!

When an account goes into default it will only remain on your Experian Credit Report for six years from the default date, so your defaulted account will automatically come off next year.

As you've mentioned you’re looking to apply for a mortgage and you’re concerned about the information such as the default on your credit report, I am happy to take a look through your credit report to make sure that everything is how it should be for when you do apply. If you wanted to [EMAIL="uksocialsupport@experian.com"]contact me[/EMAIL] by email and provide with your details (name/dob/address) I'll be happy to look into this further for you.

As Malmo and Deleted User have mentioned, you may want to obtain a copy of your credit report with all three credit reference agencies as the information held may differ between the three.

Wish you the best of luck with your mortgage application.

Kind Regards
James Jarvis