Experian: How many points does electoral register increase?

andyfromotley

quinndelfre wrote: »

That's not possible. You must be really naive to think lenders don't see your Experian credit score. Officially they're not able to see it, but when I deliberately make an application to a lender and have a friend working there, if he's able to give me feedback on my score, accurately, he's either psychic or able to see my credit score.

ahhh, you didn't get the answers you wanted so you are now deploying 'a friend in the business argument' nice one. I take it you pay to monitor your vital score? Nice one.

FROM THE FAQ on EXPERIAN
'You can also get a free score when you join CreditExpert on a 30-day free trial, as this service includes unlimited credit scores. What you need to understand, however, is that this score is only a guide and is only seen by you. While this can be very useful, any lender you approach for credit will calculate its own score.'


So even this company admits that this score is made up only for you, but you and your 'mate' know different. yup, gotcha.

pmd123

27col wrote: »

I thought that 42 was the answer to the meaning of the universe and everything.

As it is the answer to life, the universe and everything, it is clearly therefore the answer to the length of a unicorns horn

PaulW922

Good to see so many people helping out the original poster here with what is a fairly straight forward question.

Nasqueron

PaulW922 wrote: »

Good to see so many people helping out the original poster here with what is a fairly straight forward question.

It's not a straightforward question, no-one knows what algorithms the company uses to make up your score, it is very unlikely anyone at the firm will tell you as it'll be a commercial secret anyway and they lose any point to their paid service if people can provide the info they charge for, for free.

The posts are joking about the OP because what he asks is pointless - no-one but you sees the score, no lender says yes/no to you based on the score (as they don't see it) and what the OP needs to know is meaningless - if you go on the electoral register a lender will see you in a better light as you have some stability but there will be no fixed number and again, how they score you is moot so what it goes up/down has no bearing on your chance of getting credit.

PaulW922

The Op made is clear they knew what an Experian credit score was and yet still people decide to ridicule them

andyfromotley

PaulW922 wrote: »

The Op made is clear they knew what an Experian credit score was and yet still people decide to ridicule them

No you have missed the point completely Paul, we were ridiculing the concept of a credit score from a CRA. It is pointless, meaningless, invented, has no application other than to entice people to pay £16 per month to monitor it, despite it uselessness. It is then most likely manipulated for no other reason but to get people to continue to fret about, and of course, pay!

It is highly deserving of ridicule.

The fact the OP believes this tosh has some sort of meaning that can be measured and weighed will simply reinforce peoples belief that there 'must' be something to it. There isn't. His then ridiculous claim that 'his mate' can see his score left him open to ridicule in the end. (do you see the link?)

Nasqueron

PaulW922 wrote: »

The Op made is clear they knew what an Experian credit score was and yet still people decide to ridicule them

In a best case scenario, the OP is trying to work out how Experian's scoring works so he could potentially give it away free but it's still pointless as the score is only seen by you, so knowing what x will do to increase it and what y will decrease it by is completely pointless and a waste of time - there is zero point to the score and knowing how to tweak it isn't going to achieve anything.

I can tell you right now for nothing how to increase your "score" and become more of a suitable candidate for finance:

Have a credit card, pay it off in full every month
Be on the electoral register at a home for a good period of time
Get a mobile contract, pay in full every month
Never pay any bills late

That will set you on the path to getting any credit a lender deems you suitable to borrow (as they will base on salary too which Experian don't see)

becbecky15

Whether you like this or not, in a society driven by credit, knowing you're credit score is essential. True that banks use a different criteria, however, it's a good indication if you're likely to get a mortgage or not for instance.

I'm not sure how much registering to the electoral roll will increase - I've just re-registered online (my previous registration was lost in the post) and will be able to indicate of exactly how many points my score will increase once the credit agencies have registered this, which should be soon.

Just in case it helps with your research, I switched energy provider last year, they made a massive confusion with the last bill which resulted in 3 missed payments and a delinquent status on the 4th month. Once the error had been rectified, the score was increased by 410 points.

Unfortunately, the set up at the moment requires checking our credit score continuously (if you are the type of person the frequently applies for loans/mortgages). The only solution to this is cash. Doubt the majority have enough to buy a house outright though.

It is extremely unfair that we have to fork out £15 a month for each credit agency, since they are making money selling our data to creditors, it should be free to consumers. I also don't like that I need to be registered with both Equifax and Experian, because some companies will use one or the other. Noddle seems to be the least expensive, but it is updated only once a month

And just in case, don't tell me to just 'pay your bills on time' , because I do. Have everything on direct debit, and never missed a payment of any kind and yet, lost out on 2 house purchases due a bank error on an instance and a utility company on an other.

It sucks but this is the price to pay for relying on banks

boo_star

becbecky15 wrote: »

Whether you like this or not, in a society driven by credit, knowing you're credit score is essential. True that banks use a different criteria, however, it's a good indication if you're likely to get a mortgage or not for instance.

It isn't, it really isn't. Salary is key.

I'm not sure how much registering to the electoral roll will increase - I've just re-registered online (my previous registration was lost in the post) and will be able to indicate of exactly how many points my score will increase once the credit agencies have registered this, which should be soon.

It shows that you, to some extent, put down roots making chasing the debt a little easier.

Just in case it helps with your research, I switched energy provider last year, they made a massive confusion with the last bill which resulted in 3 missed payments and a delinquent status on the 4th month. Once the error had been rectified, the score was increased by 410 points.

So going from missed payments and a default to no missed payments and no default improved your score? Who woulda thunk it?

Unfortunately, the set up at the moment requires checking our credit score continuously (if you are the type of person the frequently applies for loans/mortgages). The only solution to this is cash. Doubt the majority have enough to buy a house outright though.

No, it really doesn't.

It is extremely unfair that we have to fork out £15 a month for each credit agency, since they are making money selling our data to creditors, it should be free to consumers. I also don't like that I need to be registered with both Equifax and Experian, because some companies will use one or the other. Noddle seems to be the least expensive, but it is updated only once a month

Nobody NEEDS to pay £15 a month to CRAs. Get your statutory report once a year from each (£6 if you sign up to Noddle,)

Even if you paid outright for all 3 CRAs a month it'd only be £9.

And just in case, don't tell me to just 'pay your bills on time' , because I do. Have everything on direct debit, and never missed a payment of any kind and yet, lost out on 2 house purchases due a bank error on an instance and a utility company on an other.

It sucks but this is the price to pay for relying on banks

Ask a friend to lend you money then, see how far you get.

Andybez38

Don't know about electoral register increase. But my experian score decreased by 47 points after opening a new credit card account.