Credit Score

SideArm

Hello,

This is a post on behalf of my wife. Using ClearScore (and Noddle) it seems that her low credit score is based on the credit utilization, her MasterCard (19% APR) at 4,100 / 4,250 or 96%.

Using all the various eligibility calculators all show show 10% chance of getting any decent length 0% balance transfers.

My question: Would the likely hood of getting a better balance transfer card be increased by A) Reducing the balance below 70% utilization or Getting a credit builder card and spending and paying back £50 a month?

Both A and B would be over 6 months

Thanks

[Deleted User]

She should aim to clear down the debt,

pappa_golf

what's a "credit score"?

SideArm

Thanks zx81 for quick response.

pappa golf, that is not helpful. Both Noddle and ClearScore have labels of Credit Score so that is what I have used.

pappa_golf

credit score is a made up number , sat there in the hope that you will pay for their services to make it better.

solentsusie

My credit score has gone down with Clearscore by nearly 100 points due to spending on my card over Christmas - woe betide anyone actually utilising any credit they may have been allocated by any company!!


I think what others are trying to get through to you is that the 'score' is meaningless. Any company that offers you or your wife credit will make the decision based on factual information that you provide to them, such as income, other credit commitments, time at address etc. at the time of application and any factors that a registered against you such as county court judgements, defaults or late payments on your credit accounts.


Try using the eligibility calculator on here, or any on the websites of companies you are interested in. I know Barclaycard and Nationwide do eligibility checkers as well, so you can get an indication of whether you will be accepted before applying.


Good luck.