Huge disparity between Noddle and Experian

byjimini

Hi everyone,

I've been on Noddle since November of last year, and just recently signed up to Experian since some of my credit cards weren't showing on Noddle.

Experian gives me a 968 rating out of 999 (Excellent), whilst Noddle has just reduced from a 3/5 rating to 2/5.

I can't work out the disparity between them; I've been closing credit cards that I've not used for years, reduced a huge £12000 credit limit on one down to £2000, and I certainly haven't ever missed a payment.

Any ideas on why Noddle must hate me? I've made sure all my details are correct, electoral roll etc.

Thrugelmir

Does it matter? The action you are taking is the only thing that matters. CRA's do not lend money.

solentsusie

As I am sure many members here will tell you these scores are meaningless. It is the actual information that is contained in your credit file that actually counts when any lender looks at it.

Although if you are lowering your credit limits your borrowing to available credit ratio could be seen as high. If, for example, you have a 2K limit on your card and you are using £1900 of it then you have a high ratio of borrowing to available credit. Whereas if it was £1900 against a 12K limit it is still very low.

No credit reference agency hates you. They just want you to pay them for giving you these meaningless scores. Luckily you have the free option with Noddle. I do hope you aren't paying any of them? Your £2 statutory report gives you all of the information you need.

Good luck.

byjimini

No, just taking up the free 30 day offer Experian.

If the score is meaningless than that's ok. No, my ratio of debt to credit is 35%.

solentsusie

byjimini wrote: »

No, just taking up the free 30 day offer Experian.

If the score is meaningless than that's ok. No, my ratio of debt to credit is 35%.

So everything is fine and you have nothing to worry about.

Good luck.

shortcrust

Noodle change my 'score' every now and again for no reason that I can divine. I suspect it's a good way of keeping people interested. I know it's meaningless but I still look forward to checking it when a new report's produced.

solentsusie

shortcrust wrote: »

Noodle change my 'score' every now and again for no reason that I can divine. I suspect it's a good way of keeping people interested. I know it's meaningless but I still look forward to checking it when a new report's produced.

Same here. Mine goes up and down a notch every so often with no apparent reason. I suppose they have to make it look like it means something.

kingstreet

byjimini wrote: »

just recently signed up to Experian since some of my credit cards weren't showing on Noddle

Not every credit provider provides information to, or takes information from, every CRA.

You need to obtain all three versions of your statutory credit file to see the full picture of your credit history.

Avoid the pointless credit scores. They are meaningless.