Credit Score Rebuilding

csh1989

Hi,

I am currently trying to rebuild by credit score after having to default on my credit card 2 years ago due to losing my job.

I paid the credit card off in full after 6 months and it was settled but showing as a default.

I currently have my car on finance and a loan which i got before this happened and all payments have been made on these and never missed.
I am wanting to get a new car on finance as mine is almost up however Audi have declined me even though my existing finance is with them. I have used Experian and Equifax to check my credit score and they are both showing different. Experian is showing as very poor and equifax is showing as good. My money coming in is almost double what my money going out is and the finance on the new car was only £100 a month more which is easily affordable to me. I have since got a new job with a higher wage and my out going are decreasing each month. I also do not pay for any rent or have a mortgage as I own my home.

Please can you help me to understand why they could have declined my application and what I can do to rebuild my credit quicker and also to explain why my credit scores on each site are so different?

Thank you

[Deleted User]

The scores are different as both are largely fictional and bear little resemblance to how lenders see you.

You need to only check that the data on each is correct - bearing in mind that not all lenders report to all three CRAs. Check there are no incorrect defaults, CCJs, financial associates and so on.

The best way to build a credit rating is through regular use of a card - paying off in full each month.