Experian vs Equifax

jswp79

Hi all,

I really need some help, I am getting divorced and I need to get a new mortgage to take the house over but I keep getting declined, I joined Experian and my credit rating is good/excellent so I was confused, so I joined Equifax and with them my credit rating is poor, HOW CAN THIS BE??
I called Equifax and got nowhere, has anyone else experienced this if so what did you have to do to get it sorted out.

Thanks

JP

Candyapple

What do you mean by keep getting declined - have you been applying with numerous lenders?

Your credit score is meaningless. No lender sees this, only you. Your credit history is what matters.

What is on your Equifax report that is causing you to have such a 'poor' history?

The reason why the information will differ between the agencies is because not every lender will report to all 3.

Johnnytwostep

You need to sort out your credit score with equifax, as this is really important. I would say that your credit score is the most important thing in your life.

SnowTiger

jswp79 wrote: »

I joined Equifax and with them my credit rating is poor, HOW CAN THIS BE??

A low score is indicative of problems. It's a numerical representation of Equifax's opinion of your credit history.

Check the account details on your credit report. Are there any late payments, defaults, accounts missing or other issues? Does your report show you're on the Electoral Roll?

Does your report highlight what things Equifax believe are problematical? The free version, ClearScore, offers a list of good and bad things (as it sees them).

jswp79

I had a missed payment in 2012 and I am using 92% of my credit card limit, I have no other credit other than my card and mortgage.

GingerBob_3

Johnnytwostep wrote: »

You need to sort out your credit score with equifax, as this is really important. I would say that your credit score is the most important thing in your life.

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Johnnytwostep

GingerBob wrote: »

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What, was my post in some way confusing?

I thought was perfectly clear, in fact I scored it 999, even if it did have a few defaults.

Westminster

GingerBob wrote: »

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Sarcasm radar dodgy Bob?

TheDebtinator

Westminster wrote: »

Sarcasm radar dodgy Bob?

Needs adjusting. It is missing the 999 bolts..

Strummer22

SnowTiger wrote: »

A low score is indicative of problems. It's a numerical representation of Equifax's opinion of your credit history.

Check the account details on your credit report. Are there any late payments, defaults, accounts missing or other issues? Does your report show you're on the Electoral Roll?

Does your report highlight what things Equifax believe are problematical? The free version, ClearScore, offers a list of good and bad things (as it sees them).

Joy for the OP, an actually helpful answer!

The score is pretty meaningless, but the data your credit file contains isn't. Make sure it is all correct.

GingerBob_3

Westminster wrote: »

Sarcasm radar dodgy Bob?

Could be!


Anyway, the scores are not totally meaningless, as many here would have us believe. They are indicative. Nothing more, nothing less. As such, they may prove useful to some.


The bigger question for me is, why do we need, or have, three, yes three! CRAs? Isn't one of the blighters enough? All it means is that when they publish erroneous, harmful, data about you, as they do for many people, you've got to follow up with three buckets and shovels.