Experian changed how they score you

uncreative

My score is still at 999 - cant see they have changed it. The layout changed a couple of months ago but no changes to score. I applied for a mortgage in Sept and moved in last week and it hasnt affected it at all.

Mummyto4kids

There's an alert on the front pagewhen you log in which says they've changed the scoring method but IMO it doesn't make it any more relevant!

theoretica

Psmith77 wrote: »

If their scoring is irrelevant then why are people paying £14.99 per month to see their score ?

I think people are paying because:
They don't realise the scoring is irrelevant
They succumb to the lure of Experian's sales and marketing
People like to get increasing and high scores (much like computer games never score by 1s, but you get 10-50 for the basic move)

There have been a number of posts from people who found it hard to get credit, but had high scores. Perhaps this is a reaction to that sort of thing. I wonder if any people have scores which have gone up or if this is just a downwards move?

shortcrust

So they moved the invisible goalposts on an imaginary football pitch. Oo what rotters!

DCFC79

Psmith77 wrote: »

If their scoring is irrelevant then why are people paying £14.99 per month to see their score ? Doesn't most financial institutions use Experian to credit check people?

People pay the money to see the file and be able to keep an eye on anything untoward that might happen eg credit taken out in they're name by someone else.

takman

I really can't believe people are still paying £14.99 a month to experian after reading all the information available on here. If they wanted a monthly credit report then they could just order the £2 one each month and save loads of money!

solentsusie

I personally think people should stop obsessing about the "score" these companies give you and you are gullibly paying £14.99 to see.


Concentrate on paying all of your bills and credit accounts on time. This is what lenders look at when they assess you as a good or bad risk. The raw hard data, not the "score".


These "scores" mean nothing when applying for credit no matter how they are advertised to you.

RichL74

Malcnascar wrote: »

About as relevant as me scoring you

6/10 for that

MadMat

Why does the cynic in me think we might see a new "improve your score" service from experian a few months after they change the scoring system to lower everyones scores . . . . .

Mat

pvt

It is sad that so many people cannot understand that a credit reference agency that has no knowledge of:

• how much you earn;
• other sources of income you have;
• how long you've been in your job;
• what regular cash outgoings you have;
• what you want to borrow money for;
• over what period you might want to borrow money over;
• what the loan is secured against (car/house etc.) if anything.

cannot possibly provide you with a meaningful credit score.