Bad Surprise

gargans

Back in January I was declined for a loan. It was a complete surprise as I thought I had a really good credit score.


I applied for a free trial with a credit reference agency and found out that a Mobile phone provider had messed up the porting of a number when I changed contracts (with the same provider). Bottom-line was they had advised agencies of a delinquent debt.


I contacted the mobile provider and today finally I notice this error has been corrected (it was still there yesterday).


However my credit score is still considered POOR.


There's nothing else on my file, everything is green, very low usage of my available credit through available credit cards, up to date on all payments, registered on electoral roll etc. The only thing I can see relates to a settle account back in 2009.


So why is my score still poor? Is it still the mobile phone error, or could old problems still be haunting me? Or even though the delinquent debt notice has now gone, must I wait further before my credit score improves - how long is that likely to take?


Any advice gratefully received.

[Deleted User]

Fear not. Your score is fictitious and may bears little resemblance to your how lenders view you.

If the data on your file is now accurate, and you are on the electoral roll, no unwanted financial associates, etc, then there is nothing else you need to do, apart from continue to use credit responsibly.

MuddyFunster

Firstly - I'll try to beat the stampead - scores don't mean much (actually they're a indication, if a poor one, with an onus on very high and very low score as this best sells added services). I would imagine they update the 'score' monthly - but if a creditor checks your file today, it will be 100% positive (based on info at hand) and your history shouldn't be a barier to getting credit.

gargans

Thanks Chaps - so even though it says 354 and POOR, because I've CCJs, no credit defaults and I'll be good to go? I don't want to reapply for that loan only for it to show as a search and rejection.


I have until April before I want that loan, so can be patient if need be.

[Deleted User]

Have you checked all three CRAs? You need to ensure that all three are correct, depending on which ones any given lender uses.

gargans

No - I've only checked Equifax. Experian freebie expired recently so can't use that for a bit. Equifax is not squeaky clean - whats the other one?
The Mobile company checked today (I don't know which CRA) but said it was corrected now.

fieldend

Equifax (see clearscore.com), Experian, and Callcredit (see noddle.co.uk).

As other have said, you don't need any score, all you need is all 3 credit history reports to make sure the information is correct and it's all in green.

Clearscore and Noddle reports are free. Experian's statutory report is £2.

fieldend

PS. Clearscore (for Equifax) and Noddle (for Callcredit) even give you some scores, if you like them so much - nobody else sees them or uses them but you. They are free for life

Thrugelmir

gargans wrote: »

The only thing I can see relates to a settle account back in 2009.

Settled in what way?

gargans

Settled - meaning I paid the amount outstanding and long since closed the account.