We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The super seductive appeal of a good credit score!
andyfromotley
Posts: 2,038 Forumite
Ok, so i get credit scores. They are meaningless, often inaccurate, seen by nobody but you and the CRA and nothing more than a vague indication of how a lender may see you. I often advise people on these forums about this, and would never ever pay to 'manage' mine. I get it, i'm on board.
However.........
I use noodle and clearscore to check my credit record. (particularly this month as i had an issue with Nationwide recording a late payment incorrectly, but thats by the by.) I saw that my noodle score has risen to 5/5 and i have to admit that i felt a little bit of a thrill! Now if that can be the case for me, a fairly savvy MSE, imagine the effect this has on people who don't quite understand how it all works?
No wonder they can persuade so many people to pay for this stuff!
However.........
I use noodle and clearscore to check my credit record. (particularly this month as i had an issue with Nationwide recording a late payment incorrectly, but thats by the by.) I saw that my noodle score has risen to 5/5 and i have to admit that i felt a little bit of a thrill! Now if that can be the case for me, a fairly savvy MSE, imagine the effect this has on people who don't quite understand how it all works?
No wonder they can persuade so many people to pay for this stuff!
£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
!
0
Comments
-
How did you get 5/5? I only got 4/5 maybe because i put my earnings as 50p?
Censorship Reigns Supreme in Troll City...0 -
haha - definitely agree.
Having exited my very rocky patch - I am now eagerly watching my clearscore as it slowly edges towards and above that of the local average ....0 -
Just change your earnings. It makes a huge difference.Censorship Reigns Supreme in Troll City...0
-
How do you change your earnings on noddle?Homeowner:j0
-
No idea, i registered in clearscore recently and put the proper figure for my wife but i put 50p to see if it made a difference and it did, my score was much lower despite my credit report being better than hers.
She has only just managed to open a bank account. Even failed that before.Censorship Reigns Supreme in Troll City...0 -
I agree its like getting a report card on how well your managing your finances. Tempting to try to get full marks!
Save 12K in 2020 # 38 £0/£20,0000 -
Very clever marketing by the Credit Agencies!I am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Yup and if you suffer anxiety it really plays on you! Crafty beggars0
-
I have just joined noddle and was expecting to see that my credit score was good however it says 1/5, i have never missed a payment on anything, always pay dd's on time and have a small amount of debt on a CC and car finance. I just don't get how they work?Tesco Loan - 91770
-
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.3K Banking & Borrowing
- 254K Reduce Debt & Boost Income
- 454.9K Spending & Discounts
- 246.3K Work, Benefits & Business
- 602.5K Mortgages, Homes & Bills
- 177.9K Life & Family
- 260.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards