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How accurate is the MSE eligibility checker?

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  • tomxlisa
    tomxlisa Posts: 536 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    audigex wrote: »
    It told me yesterday that I had a 95% chance (or was it 9.5 out of 10? Same difference) and I was instantly accepted... so my anecdotal evidence is that it works

    Of course, some people will get turned down, but assuming you've checked your credit record and it has nothing nasty on it, as far as I can tell you're generally okay: the only difference seems to be the limit you're allowed (I was given a £5k limit)
    What card did you get accepted for?.
  • Lily-Rose_3
    Lily-Rose_3 Posts: 2,732 Forumite
    It's very accurate. Not 100%, but very close.

    I know a number of people who had a 90-95% chance of being accepted for certain cards, and they got them. It said ''we will let you know in writing,' and about 10 days later, a pin number came through the letterbox, followed by a credit card 2 days later. £300 limit.

    These cards are mainly for credit building and are high interest, so be careful to pay off in full when you get the statement. The longer you have it, and the quicker you pay off what you owe, the more the interest will come down, and the credit limit will go up.

    If your credit record is OK, and you have done your best to pay stuff on time, and the checker says 95% chance of a 'yes' then you are more than likely to get a credit card.

    Go for it, and good luck. :j

    Let us know how you get on. :)

    P.S. (3 of the people I know got the AQUA one...)
    Proud to have lost over 3 stone (45 pounds,) in the past year! :j Now a size 14!


    You're not singing anymore........ You're not singing any-more! :D
  • tomxlisa
    tomxlisa Posts: 536 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    The only credit building card I could get was the capital one card, all the others didn't wanna know and they are suppose to be credit building cards, my credit file is fine except for lack of history and not on the electoral roll yet, this should all change from september the 1st through.
  • audigex
    audigex Posts: 557 Forumite
    tomxlisa wrote: »
    my credit file is fine except for ... and not on the electoral roll yet.

    This is your main problem, not your lack of history. Not being on the electoral role is a HUGE disadvantage when looking for credit, as the credit provider has a much harder time identifying you and ensuring you are a real, traceable person.

    Getting yourself on the electoral roll should be priority #2 in credit score management (#1 being to ensure you always make the minimum payment on any debts you have to avoid default)
    "You did not pull yourself up by your bootstraps. You were lucky enough to come of age at a time when housing was cheap, welfare was generous, and inflation was high enough to wipe out any debts you acquired. I’m pleased for you, but please stop being so unbearably smug about it."
  • tomxlisa
    tomxlisa Posts: 536 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    audigex wrote: »
    This is your main problem, not your lack of history. Not being on the electoral role is a HUGE disadvantage when looking for credit, as the credit provider has a much harder time identifying you and ensuring you are a real, traceable person.

    Getting yourself on the electoral roll should be priority #2 in credit score management (#1 being to ensure you always make the minimum payment on any debts you have to avoid default)
    Is it really that much of a massive difference then, I called my local council and they said I should be on the credit agencies files from september, I really hope this is the case as I've been waiting since the start of july, will I have to wait for my credit files to update then on noddle etc for it to come into affect, or will I be seen on the electoral roll from september regardless what it says on my files?.
  • Lily-Rose_3
    Lily-Rose_3 Posts: 2,732 Forumite
    Oh yes, Audigex is right, not being on the electoral register can make a huge difference. Get on it soon! Maybe do that and then apply for the card. :)
    Proud to have lost over 3 stone (45 pounds,) in the past year! :j Now a size 14!


    You're not singing anymore........ You're not singing any-more! :D
  • tomxlisa wrote: »
    Is it really that much of a massive difference then, I called my local council and they said I should be on the credit agencies files from september, I really hope this is the case as I've been waiting since the start of july, will I have to wait for my credit files to update then on noddle etc for it to come into affect, or will I be seen on the electoral roll from september regardless what it says on my files?.

    It's massive. Address stability is huge in credit underwriting.
  • audigex
    audigex Posts: 557 Forumite
    tomxlisa wrote: »
    Is it really that much of a massive difference then, I called my local council and they said I should be on the credit agencies files from september, I really hope this is the case as I've been waiting since the start of july, will I have to wait for my credit files to update then on noddle etc for it to come into affect, or will I be seen on the electoral roll from september regardless what it says on my files?.

    Yes, it's huge. The electoral roll is the first thing the credit companies use to check you even exist. If you aren't on the electoral roll, they don't have any easy way to check you're even a real person, never mind whether you're worth lending to.

    You'll likely find things become far, far easier once you're on the electoral roll, assuming you haven't been declined enough times to cause a problem. Stop applying for credit now, and don't apply again until you've checked your credit file - there's usually a section about whether you're on the electoral roll when you buy the £2 statutory report.
    "You did not pull yourself up by your bootstraps. You were lucky enough to come of age at a time when housing was cheap, welfare was generous, and inflation was high enough to wipe out any debts you acquired. I’m pleased for you, but please stop being so unbearably smug about it."
  • tomxlisa
    tomxlisa Posts: 536 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    I have just checked my equifax and can see now that I am on the electoral roll with them from august this year, experian doesn't show this yet though or call credit, maybe as my files haven't been updated with them yet, what information does the eligibility checker on this site use, does it check just experian or all three agencies.
  • tomxlisa
    tomxlisa Posts: 536 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    Advice on my last post peeps?.
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