Experian stuffing my stoozing

N2000

Hi

I had got lazy, and forgotten to close some old stooze cards, and did so at the end of April.

I subscribed to Experian and to Equifax, and found that an old closed Goldfish card had an incorrect "payment not received entry", but only on Experian. I went through the nause of getting Goldfish to correct the entry, which they have just done, as can be seen by looking at Experian.

My problem is my stooze pot of £12500 needs to be cleared on my Egg card by 1 October.

Experian shows my credit rating as "Fair", but Equifax shows me as "excellent".

Any suggestions??

Clariman

First of all, don't be distracted by the fact that Experian rate you as "fair" and Equifax as "excellent". The credit scores that they give you are pretty meaningless because lenders never see that number. What you need to look at is what your credit history actually shows. Does Experian still show a "payment not received" entry or has that been corrected? If you have a perfect payment record then you should be in good shape. If Experian still shows a missed payment then you have 2 choices (i) get Experian to fix it before applying for other cards or (ii) apply for a card from a lender who normally searches on Equifax not Experian. As a guideline you can use this table but please note that lenders sometimes change who they use.

N2000

Thanks Clariman, I didnt realise that the lenders didnt get to see the actual score.

There are now no adverse comments on the file, and all payments are now correctly shown as being on time.

I might try Capital One again, using the 0% interest, 3% fee card as my next stooze. I closed my previous Capital One card at the end of April........is this long enough between applications with them?

Clariman

N2000 wrote: »

Thanks Clariman, I didnt realise that the lenders didnt get to see the actual score.

Well some might get to see it but they won't be that interested in it. What the lender is interested in is the FACTS about your credit performance, not Experian's OPINIONS about it. A subtle but very important difference. Each lender will then make their own mind up based on how they interpret the facts and based on their lending rules.

There are now no adverse comments on the file, and all payments are now correctly shown as being on time.

Sounds OK then.

I might try Capital One again, using the 0% interest, 3% fee card as my next stooze. I closed my previous Capital One card at the end of April........is this long enough between applications with them?

Why not take a look at the fee free 7 months BT that they have just announced? In answer to your question, Capital One will treat you as a new customer the day after you close an existing card! In practice, I'd allow a couple of weeks but they are one of the best in that respect.

Clariman