Experian report: "delinquent" credit card with balance of £7.88

BP

I'm currently reviewing my Experian score, one of my (I believed unused) credit cards is classed as a delinquent account because last August (August 2015), I topped up my Skype credit not realising that this credit card was attached to it. The original charge was £7.24.

Since I did not pay the balance, I have paid interest each month since then, and until I paid it off a few days ago, the balance had grown to £7.88.

The question is, can I have this "delinquent account" mark removed from my credit report? The reason I'm interested in my score is I'm investigating applying for a mortgage and this is the only negative thing right now - but it's clearly a big deal since I'm marked as having a "Very Poor" score.

Thanks!

Gaz83

B/P wrote: »

I'm currently reviewing my Experian score, one of my (I believed unused) credit cards is classed as a delinquent account because last August (August 2015), I topped up my Skype credit not realising that this credit card was attached to it. The original charge was £7.24.

Since I did not pay the balance, I have paid interest each month since then, and until I paid it off a few days ago, the balance had grown to £7.88.

The question is, can I have this "delinquent account" mark removed from my credit report? The reason I'm interested in my score is I'm investigating applying for a mortgage and this is the only negative thing right now - but it's clearly a big deal since I'm marked as having a "Very Poor" score.

Thanks!

You can ask the credit card provider to stop reporting it to the CRA as a gesture of goodwill. But they are within their rights to tell you to fob off.

Credit histories are supposed to be factual. They wouldn't be much good if people could just get 'bad' marks removed.

Don't pay attention to the score - they're fictional. Just focus on the information being correct.

GingerBob_3

Gaz83 wrote: »

You can ask the credit card provider to stop reporting it to the CRA as a gesture of goodwill. But they are within their rights to tell you to fob off.

Credit histories are supposed to be factual. They wouldn't be much good if people could just get 'bad' marks removed.

Don't pay attention to the score - they're fictional. Just focus on the information being correct.

Yes, but unfortunately the "facts" they report are open to interpretation, and some of the "facts" are actually lies. The OP's situation is a case in point. A trivial oversight, if it even was an oversight, for a stupidly small amount of money, is reported as "delinquent", !!!!!!! Automated scoring algorithms may well blow out the OP for many credit products while it's still being published by the CRAs. Yet another example of how credit reporting is not fit for purpose.

BP

The "fact" is that I'm a responsible borrower, with multiple credit lines all in good standing - having one account with £7.88 of debt cause my credit rating be marked as Very Poor is just... not factual at all.

I have written to Lloyds, who issued the card, explaining my position and to find out if they'll make any changes with the CRA. Worth mentioning that I had to do this by posting a physical letter.

Presently I'll set up meetings with mortgage lenders and will learn how fictional the rating numbers are. Presumably they're not entirely ignored or Experian et al wouldn't find any profit in collecting and selling the data.

I'll update this thread with information about both points, in case this is of interest to others.

GingerBob_3

B/P wrote: »

The "fact" is that I'm a responsible borrower, with multiple credit lines all in good standing - having one account with £7.88 of debt cause my credit rating be marked as Very Poor is just... not factual at all.

I have written to Lloyds, who issued the card, explaining my position and to find out if they'll make any changes with the CRA. Worth mentioning that I had to do this by posting a physical letter.

Presently I'll set up meetings with mortgage lenders and will learn how fictional the rating numbers are. Presumably they're not entirely ignored or Experian et al wouldn't find any profit in collecting and selling the data.

I'll update this thread with information about both points, in case this is of interest to others.

As you point out, salient facts such as you being a good payer are neutralised by irrelevant "facts" such as a low-value so-called delinquency. Please keep us updated. As for the credit scores, as you probably know they are indicative but not accurate. Despite the deluge of advice given here that they are "made up numbers" and the like; just disregard it. As I say - the score are indicative of your ability to get credit.

Thrugelmir

B/P wrote: »

The "fact" is that I'm a responsible borrower, with multiple credit lines all in good standing - having one account with £7.88 of debt cause my credit rating be marked as Very Poor is just... not factual at all.

Your credit history will reflect that this account was delinquent. That you failed to check the account in 7/8 months. That's factual. Lenders will determine whether that's within their lending criteria or not. Not the credit agencies whose appraisil of your credit status is valueless. .

shortcrust

B/P wrote: »

The "fact" is that I'm a responsible borrower, with multiple credit lines all in good standing - having one account with £7.88 of debt cause my credit rating be marked as Very Poor is just... not factual at all.

I have written to Lloyds, who issued the card, explaining my position and to find out if they'll make any changes with the CRA. Worth mentioning that I had to do this by posting a physical letter.

Presently I'll set up meetings with mortgage lenders and will learn how fictional the rating numbers are. Presumably they're not entirely ignored or Experian et al wouldn't find any profit in collecting and selling the data.

I'll update this thread with information about both points, in case this is of interest to others.

Nonsense. You didn't pay your credit card bill for at least six months. How is that 'responsible'?!

Gaz83

B/P wrote: »

The "fact" is that I'm a responsible borrower, with multiple credit lines all in good standing - having one account with £7.88 of debt cause my credit rating be marked as Very Poor is just... not factual at all.

The fact is that you left a debt on a credit card for six months without paying. That can't be disputed. Regardless of the amount, it doesn't show you were wholly on top of your finances.

Surely when you topped up your Skype account you must have noticed no payment come off of any of your other cards?

B/P wrote: »

Presently I'll set up meetings with mortgage lenders and will learn how fictional the rating numbers are. Presumably they're not entirely ignored or Experian et al wouldn't find any profit in collecting and selling the data.

They are fictional. Lenders don't see the scores, they assess applications based on the information contained in credit files, not the scores. The scores are used by the CRA companies to con people into paying for them every month.

BP

Mini-update for anyone who finds this by searching:

* Lloyds do not update CRAs without serious evidence they were at fault, and since in this case I already knew I was at fault nothing happened.
* Experian scores are, as said above, fiction. Mortgage lenders do not look at them, and apparently I am marked as having very good credit, and have secured a mortgage.

Quite annoyed that I've been taken in by Experian in this way. Feels like I've incurred a load of stress, not to mention the monthly fee, for what turned out to be nothing at all!