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Hi Dobbibill,
Here are my answers to your questions ...
Do you have other lines of credit? Yes
Do you make minimum payments? [They may think you're over comitted] Yes
Do you pay other credit cards off in full each month? [they may think you are not profitable enough to be one of their customers] Mostly
Do you think that the lender may think you already have enough credit ratio to your income? If they do, then they must think I earn millions lol
Are you financially linked to someone else who may have missed payments? No
Do you live in an area which is a high risk for fraud? No
Have you ever been a victim of fraud? No
Have you recently changed jobs? No
Have you made any other applications for credit recently? Not in the past 3 years, all were accepted.
Hi Martin,
I didn't expect you to answer all the questions but fair play to you
I hope you can see from the variety of questions, that being rejected for credit with any lenders is not personal. They may only like people who make minimum payments and never pay off their bill in full, or vice versa.
They certainly won't base any decision on your 'credit score' from Experian, they just use the data within your report, coupled with the information provided on the application form against their criteria.
I'm glad you've decided to apply for the £2 report to check for inaccuracies rather than paying almost £15 for it. Saves you £13.....bargain
DobbiI’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
Deleted_User wrote: »Experian don't 'give a negative'. They provide data about you and the lender makes a decision on that, plus anything else the lender has asked you.
It's about you not meeting the lenders criteria.
Another explanation might be that Talk Mobile are using their current promotion to attract enquiries, reject all applications but the rejection email offers a much more expensive alternative (PAYG which would work out at over £40 a month for 2GB of data compared with their advertised offer of £7.50). Maybe the offer was simply to get publicity and nobody can get that deal, perhaps the intent is to establish contact and then upsell.0 -
They don't provide your credit score. It would be entirely useless as the lender doesn't know what is driving that number. They wouldn't know whether 700 means you're not on the electoral roll, or whether if it's because you have a CCJ, or 3 defaults, or have moved house 7 times.
All they get is the raw data and they interpret it. Lender A may lender to students, so will not worry about customers moving frequently. Lender B may serve the higher risk customers, so will be looking for some stability in address and electoral roll.
Some smaller lenders may provide their criteria to Experian and ask them to provide a score based on that, but no one is seeing your 999 score.0 -
The £2 credit report will tell you everything you need to know the score does not really matter as much is what state the accounts are in
you can also see call credit free using noddle and eqifax free using clear score as differnt agencies may report different accounts0 -
Deleted_User wrote: »They don't provide your credit score. It would be entirely useless as the lender doesn't know what is driving that number. They wouldn't know whether 700 means you're not on the electoral roll, or whether if it's because you have a CCJ, or 3 defaults, or have moved house 7 times.
All they get is the raw data and they interpret it. Lender A may lender to students, so will not worry about customers moving frequently. Lender B may serve the higher risk customers, so will be looking for some stability in address and electoral roll.
Some smaller lenders may provide their criteria to Experian and ask them to provide a score based on that, but no one is seeing your 999 score.0 -
An application can decline for many reasons it can be as simple as you have typed your name wrong or date of birth. You can always call them and ask why your application was rejected and once you have obtained your report will have the same information they had at the time to challenge there decision, however on a separate note avoid Talk Mobile at all cost there are better deals on virgin mobile with only a 30 day contracts and better customer service0
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An application can decline for many reasons it can be as simple as you have typed your name wrong or date of birth. You can always call them and ask why your application was rejected and once you have obtained your report will have the same information they had at the time to challenge there decision, however on a separate note avoid Talk Mobile at all cost there are better deals on virgin mobile with only a 30 day contracts and better customer service0
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gropinginthedark wrote: »I've got my full report from experian and I can see Talk Mobile made an enquiry so not a problem with incorrect DOB/Name etc. The experian report is perfect: maximum possible score, no grounds for concern whatsoever.
- Company A dislike people who have a high amount of borrowing "available" to them (e.g. a couple of credit cards with high limits, even if unused)
- Company B dislikes people who are using a high percentage of their available debt (so a low limit nearly used would be much worse than a high limit unused)
I can only conclude that Talk Mobile are lying about the rejection being because of the credit check but instead it's some kind of commercial decision
Certainly mobile companies are usually pretty forgiving with issues on credit reports so it seems likely they've got something slightly unusual going on.Do you not know that a man is not dead while his name is still spoken?
― Sir Terry Pratchett, 1948-20150 -
Update on this thread I started ...
I received my £2 report yesterday and waited until this morning to open it as I was scared at what I might see.
Worries over, no problems that I can see, apart from a code 8 from August 2010 when I was in intensive care, so although this should be removed this year, I will contact the lender and ask them to remove it now.
So, all I can sum miss (as on this report there isn't a credit score number), is that because all of the credit I have - which isn't massive - is paid on time and not in default, I'm not worthy of being offered more.
So, do I go into default to make me a better credit risk? No I thought not!0
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