Credit Score - Experian - No settled non-mail order credit accounts

dowjones123

I am planning to apply for a mortgage soon. I checked my Experian credit score, and seems like there is an area of improvement

You have no settled non-mail order credit accounts.

Will the following help? I buy a fridge (or a similar household appliance) from Argos on a credit for 3 months of equal installments, and then at the end of 3 months I would have paid the whole amount (via direct debt, monthly) and that credit would have been settled, to tick this box for me.

What is the easiest and least time consuming way to get this box ticked in my credit score? I want to apply for the mortgage within the next 2-3 months

Thanks

kingstreet

Complete marketing claptrap and completely pointless.

This level of micro-management is simply not required.

If you have a history of well-conducted credit and no recent late or missed payments, you should be fine.

Order your statutory credit files only from all three CRAs and ignore the credit score nonsense as there are no universal credit scores in the UK, just what a lender derives from your application and credit file on the day of application.

DandelionPatrol

dowjones123 wrote: »

I am planning to apply for a mortgage soon. I checked my Experian credit score, and seems like there is an area of improvement

You have no settled non-mail order credit accounts.

Will the following help? I buy a fridge (or a similar household appliance) from Argos on a credit for 3 months of equal installments, and then at the end of 3 months I would have paid the whole amount (via direct debt, monthly) and that credit would have been settled, to tick this box for me.

What is the easiest and least time consuming way to get this box ticked in my credit score? I want to apply for the mortgage within the next 2-3 months

Thanks

I agree with kingstreet. The whole Credit Referencing Agency credit score idea is claptrap.

There is no such thing as a universal credit score - each lender conducts their own scoring according to their own criteria, and long may that continue. It does not make sense for a mortgage lender to score borrowers in the same way as a furniture store credit company will score for sofa finance