Bad credit no good reason, confused!

Benrie14

Hi! I'm new here and hope I'm not doing anything wrong by posting a new thread.

My question is about my husbands credit rating. I have 3 defaults and a ccj (irresponsible in my 20's, paying for it in my 30's!) and I have a higher credit rating than my husband who has 1 default of a month for £17 a year ago and nothing else adverse at all. His score is 500 mine is 527! Can anyone suggest a reason as to what would be making it so low.

Could it be that he's not had enough credit? If so would a capital one or vanquis card help this if we pay it off every month?

Could it be that he's registered at companies house with a few companies?

In difficult times we wrecked my rating and saved his as we could only do so much and thought it was best that we saved one! So disheartening to see his score so low when there isn't anything of note on there.

A massive thank you in advance for any replies and again, apologies if I've posted in the wrong place or asked something that's been asked a million times!

engineer_amy

Do you have any linked financials, joint bank account, joint mortgage, both named on utilities or anything that links you at all?


On your credit report, under financial associates, is he listed?


if so, your credit history could be affecting his.


but don't put too much faith in the actual numbers the CRAs are reporting. Your credit rating is irrelevant, its the history that's important

[Deleted User]

Regular use of a credit card is the easiest way to build a history - use each month and pay off in full each month.

But ignore the scores, unless you just like collecting numbers. They bear no practical resemblance to how lenders will view you.

Candyapple

Benrie14 wrote: »

Hi! I'm new here and hope I'm not doing anything wrong by posting a new thread.

My question is about my husbands credit rating. I have 3 defaults and a ccj (irresponsible in my 20's, paying for it in my 30's!) and I have a higher credit rating than my husband who has 1 default of a month for £17 a year ago and nothing else adverse at all. His score is 500 mine is 527! Can anyone suggest a reason as to what would be making it so low.

Could it be that he's not had enough credit? If so would a capital one or vanquis card help this if we pay it off every month?

Could it be that he's registered at companies house with a few companies?

In difficult times we wrecked my rating and saved his as we could only do so much and thought it was best that we saved one! So disheartening to see his score so low when there isn't anything of note on there.

A massive thank you in advance for any replies and again, apologies if I've posted in the wrong place or asked something that's been asked a million times!

That will be the big problem right there, yours defaults/CCJs are older = impacting less every year whereas his is brand new and will be causing maximum damage.

Being registered (or not) at companies house will have no bearing on his credit reports/history.

No point in him taking out a Cap 1/Vanquis card right now, it will make little to no impact with that default. He'd be better off applying for one in say 4 years time, that way when his default drops off he will have 2 years of positive payments.

In the 5 years meantime until the default drops off he should make sure he is on the electoral roll and that this shows across all 3 credit reference agencies and also make sure any bank accounts are showing as well. If he has a mobile phone, make sure that is being reported too.

MEM62

Benrie14 wrote: »

His score is 500 mine is 527! Can anyone suggest a reason as to what would be making it so low.

On the basis that credit 'scores' are randomly generated numbers there is no explanation as to why anyone is awarded a particular score.

It is the information on your credit history that is important and, based on the information that you have included in your post, lenders are like to view your OH more favourably that you. The score is meaningless.