Good credit score?

nannytone_2

what is the lowest credit score that would be classed as acceptable?

i have never bought anything on credit, never had a credit card and never had a loan.

i have however, always paid bills when they are due and have never had any debt.

this leads me to believe that my credit score won't be fantastic.
i'm just curious as to when a poor credit score becomes a reasonable one.

thanks

Ben8282

Acceptable for what purpose exactly?
If you want to know what your credit score is would suggest you sign up with one or more of the credit reference agencies and find out.
You don't specify which type of bills you have been paying. If these are utility bills, telephone bills, mobile phone contract bills etc then you almost certainly will have some sort of record with the credit reference agencies as these all constitute credit.

Dobbibill

nannytone wrote: »

what is the lowest credit score that would be classed as acceptable?

As previously said, Acceptable by who? For what?
What are you trying to get/do?

i have never bought anything on credit, never had a credit card and never had a loan.

i have however, always paid bills when they are due and have never had any debt.

Do you have a current account? Does it have an OD facility? Have you had a mobile phone contract? Have you ever paid for insurance monthly? Do you pay for utility bills? All of these may report to a CRA. To find out if they do you can check you history with Noddle, provided by call credit or Clearscore, provided by equifax. Your experian CR, you can see by signing up to a 30 day trial, although remember to cancel it before the 30 days are up. You can even go via TCB and get paid to sign up for the trial.

this leads me to believe that my credit score won't be fantastic.
i'm just curious as to when a poor credit score becomes a reasonable one.

The score they give you is irrelevant as they don't provide credit, look at your credit history. Every lender has their own criteria, which you may or may not meet. If you tell us what you are thinking of doing, we will be able to make further suggestions to your next steps.

nannytone_2

im not actually thinking of doing anything.

what made me think about it was a friend, who like me, has never used credit.
she needed a loan for urgent car repairs and was turned down for both a loan and a credit card, despite never owing anybody a penny.

so i used Noddle and it said my credit rating is 575.
i just wondered if it was sufficiently healthy to enable me to get credit should the need arise.

19lottie82

Your "score" is irrelevant, tbh it doesn't actually exist. It's just a marketing tool made up by "credit scoring" companies. If you apply for credit, potential lenders will never see it, the only person who will, is you.

The best way to make sure you are attractive to potential lenders is to not have any credit related "black marks", like late or missed payments, make sure you're on the electoral register, have a history of responsible borrowing and not being financially linked to anyone with a bad credit history.

Each lender will have their own acceptance criteria, so no one can advise a simple yes/no, even if we were shown your full credit "history".

If you wish to improve your credit "worthiness" then I'd make sure you're on the electoral register and look at getting a credit card, spending a small amount on it each month and then paying it back, and possibly a SIM only phone contract, if you're currently on PAYG.

I hope this helps.

nannytone_2

i'm already doing everything you suggest apart from having a credit card.
the fact i have little 'history' to write home about does make me wonder if anyone will give me a credit card in the first place

thanks for taking the time people!

molerat

MrsM has a Noddle score of 629. She has several current accounts, only one with a small (unused) o/d facility, a sim only phone contract and no credit cards so very little history of managing credit.

nannytone_2

i have 1 basic bank account, no OD facility. i have 2 mobile contracts, 1 SIM only ( grandsons 11th birthday pressie )

WannaBLoaded

Your score is the equivalent of someone who has 3 defaults.

DCFC79

nannytone wrote: »

i have 1 basic bank account, no OD facility. i have 2 mobile contracts, 1 SIM only ( grandsons 11th birthday pressie )

I hope the sim has a cap on it (or its a payg) to prevent any shocking bills.

Ben8282

Having re-read all your posts it appears that you have not actually applied for a loan or credit card yourself. You therefore have no idea what the result would be until you actually apply.
The advice given about making sure the SIM card given to your grandson has a cap on it is very good advice. Even the best behaved children can forget the minutes when chatting away to their friends!