Clearscore

[Deleted User]

The secret is to ignore the score as it is meaningless.

fermi

What your credit score really means --> http://www.moneysavingexpert.com/loans/what-credit-scores-mean

Consumerist

This a short-term effect due to applying for credit.

Looking longer-term, if your son pays his charges on time every time, this should appear on his credit file to indicate that he has been able to manage his finances properly.

Short-term pain for long-term gain. He should make sure he doesn't miss any payments.

Although the "score" itself is meaningless, it's direction of change does give some indication of how his financial status is changing. Be patient.

c-m

Been using clearscore a few months now. I like how it's laid out, but it's not quite as detailed as Noddle (call credit) though for me it does list all the same accounts.

Bizarrely I can't join the credit club as for some reason my details can't be verified. This is despite me having an Experian Credit Matcher account, and all my details being up to date.

ShivasPlace

Beanie57 wrote: »

My son got himself into difficulties resulting in his score going down and has been using clearscore which has helped him focus. For the last 9 months he has worked very hard and it was slowly rising. As part of looking at his finances he recently switched internet provider and did agree to a credit check in the T&C. He was accepted by the new internet provider however the credit search has now gone as a negative on clear score and his score has gone down by 28. I could understand this if he had been rejected but he hasn't and this is all part of him managing his money better. Surely after they accepted him,and he can prove its part of managing his money better and the trend is going up, thereby passing the credit check the negative should now be removed? If this can anyone advise how to go about this.

My 'score' on Clearscore decreased by a similar amount the month after a credit check (hard search) had been carried out. You will be pleased to know that the month after that, it went back up again - so as Consumerist says, it's a short-term thing.

Oddly enough, it didn't effect my score on CheckMyFile. According to them, multiple credit searches don't really effect your 'score' and it's all a bit of a myth.

JanChris

My DRO was on 25.9 2014 and ended 25.9.2015

Clearscore shows on my closed accounts 4 different accounts. One HSBC is closed and zeroed and SETTLED which is what I would expect.

One HSBC a/c is closed but still shows as £1,696 owing.

LINK FINANCE (who took over my Barclaycard loan) is closed but is showing as still owing £4,281

BaRCLAYS ACCOUNT showing £1,2356

Shouldn't these be showing £0 and settled?

Also it says I dont have any credit cards but I do have a Vanquis Card for the last 8 weeks which is showing in Noddle but not Clearscore.

Noddle is showing my LINK account as open!

Any help much appreciated.

Janice

Consumerist

JanChris wrote: »

My DRO was on 25.9 2014 and ended 25.9.2015

Clearscore shows on my closed accounts 4 different accounts. One HSBC is closed and zeroed and SETTLED which is what I would expect.

One HSBC a/c is closed but still shows as £1,696 owing.

LINK FINANCE (who took over my Barclaycard loan) is closed but is showing as still owing £4,281

BaRCLAYS ACCOUNT showing £1,2356

Shouldn't these be showing £0 and settled?

Also it says I dont have any credit cards but I do have a Vanquis Card for the last 8 weeks which is showing in Noddle but not Clearscore.

Noddle is showing my LINK account as open!

Any help much appreciated.

Janice

I would suggest that, as a first move, perhaps you should get the genuine credit reports from Experian & Equifax, the main CRAs and also from CallCredit. They cost £2 each but are the best way to check that the info is correct. It's a good idea to do this once a year even if you do get the freebies from Noddle and ClearScore.

Rich135

Is there any benefits to joining the MSE CreditClub? I am already on Noddle and ClearScore but aside from a meaningless score from Experian CreditMatch I get no view on my Experian reports.
I read that soon MSE will give full reports from Experian so I am guessing at that point it would be a good idea, but before that does MSE have any advantages? Does it keep records of past scores? Historical data?...

Consumerist

Rich135 wrote: »

Is there any benefits to joining the MSE CreditClub? I am already on Noddle and ClearScore but aside from a meaningless score from Experian CreditMatch I get no view on my Experian reports.
I read that soon MSE will give full reports from Experian so I am guessing at that point it would be a good idea, but before that does MSE have any advantages? Does it keep records of past scores? Historical data?...

Credit Club is in Beta at the moment; there are no historic records and I'm not aware of any plans to introduce them. As you say, Experian credit reports are planned for the future.

Much of the site repeats helpful information already available on the MSE main site. One innovation is their "Hit Rate" which evaluates what percentage of a basket of credit offers you are like to be successful with if you applied.

JanChris

Thank you. I will try that ... and then write to Link Financial Outsourcing iwth a copy of my DRO approval. :T