Different score with credit reports

jay459

My credit file with experian has a score of 890, 71 off being an excellent score. All info is identical on equifax yet my report is poor with a score of 338...

I have two defaults with dates 03/04/2009 and 06/04/2009.

Today is the 3rd, should i be expecting these defaults to dissapear any day now....

What date do the credit reference agencies update their reports, or can it be anytime....

Will my score jump up when they fall off?

fermi

Yes, they should drop off automatically.

Experian system usually removes default and other data like that due to expire exactly 6 years to the day. May be the midnight at the end of that date if I recall.

Those sorts of update are automatic and done Experian's end, independent of the creditor, so happen when they are due, and are not restricted to once per month.

[Deleted User]

jay459 wrote: »

My credit file with experian has a score of 890, 71 off being an excellent score. All info is identical on equifax yet my report is poor with a score of 338...

This is to be expected, as both companies use different criteria for generating scores, neither of which correlate to lenders' scoring systems.

jay459

When this all pans out and say my experian report is still much better than my equifax, what banks if any only use experian for credit scoring or do they use them all?

matttye

Banks usually will not see the credit scores awarded to you by Experian/Equifax/etc. They will just take into account the information in your credit reports.

Banks don't usually publish which CRAs they use, but there's a big thread on this forum somewhere which contains anecdotal evidence of which banks use which CRAs.

B_G_B

matttye wrote: »

Banks don't usually publish which CRAs they use, but there's a big thread on this forum somewhere which contains anecdotal evidence of which banks use which CRAs.

https://forums.moneysavingexpert.com/discussion/2419785

jay459

I checked my experian report last night at 00.01 and yes the default was removed but my scored actually decreased by 3 points...this reason...

The average age of your accounts has decreased due to either opening new accounts or older accounts being removed from your credit report. This has had a negative effect on your Experian Credit Score.

But surely when the second and final default is removed on the 6th and there are no defaults on file my score will change from good to excellent...

Now the worrying factor is Ive checked experian and the default has not been removed...I also went to check call credit, is this just noodle, I have a noodle account and the default is also on noodle...??

andyfromotley

Jay,
the worrying thing is that you pay any attention to this invented number, which nobody other than you sees.

No CRA will ever lend you money. No one who ever lends you money will see these scores. It takes a while to get your head around it but when you do you will be free of worrying about it. You have yourself worked out that they are an utter load of tosh and nonsense, designed for the sole purpose of getting people to cough up £15 per month to see them. Please tell me you don't pay them for this work of fiction.

Lenders look at your credit history, it sounds like you are doing fine with that. Stop fretting, stop paying and relax.

matttye

jay459 wrote: »

I checked my experian report last night at 00.01 and yes the default was removed but my scored actually decreased by 3 points...this reason...

The average age of your accounts has decreased due to either opening new accounts or older accounts being removed from your credit report. This has had a negative effect on your Experian Credit Score.

But surely when the second and final default is removed on the 6th and there are no defaults on file my score will change from good to excellent...

Now the worrying factor is Ive checked experian and the default has not been removed...I also went to check call credit, is this just noodle, I have a noodle account and the default is also on noodle...??

As Andy says, the scores don't mean anything to lenders and should only be used as a very rough guide as to what is on your credit file.

As for Experian's advice, I don't think any lender will give a hoot about the average age of your accounts so long as they are being ran responsibly. It may affect your Experian Credit Score but lenders don't get to see that score, so don't worry about it.

fermi

As said, ignore Experian's score and dubious assessments.

Creditors will look at their own criteria, and one less default showing is only going to be positive or neutral.

The_Boss

jay459 wrote: »

I checked my experian report last night at 00.01 and yes the default was removed but my scored actually decreased by 3 points...this reason...

The average age of your accounts has decreased due to either opening new accounts or older accounts being removed from your credit report. This has had a negative effect on your Experian Credit Score.

But surely when the second and final default is removed on the 6th and there are no defaults on file my score will change from good to excellent...

Now the worrying factor is Ive checked experian and the default has not been removed...I also went to check call credit, is this just noodle, I have a noodle account and the default is also on noodle...??

This seems to be a known issue - Experian seem to score people with defaults highly, so the fact the random number has worsened doesn't surprise me. Defaults for a lot of lenders and financial products are absolute no nos, so no idea why Experian's matrix is lenient towards them even towards the end of their life.