Credit score Experian 100% Noddle -poor why?

twokcc

As title says how can 2 different providers with exactly the same information come to a credit rating that are substantially different.
Is it just a way for Noddle to try to get you subscribe to credit improvement service etc

Before anyone asks no defaults, court judgements, on election register, correct address etc,etc on Noddle

agrinnall

Why do you care? The credit score is a meaningless number when it comes to applying for credit, unless you know of a way to get a loan from Experian or Noddle?

bigadaj

twokcc wrote: »

As title says how can 2 different providers with exactly the same information come to a credit rating that are substantially different.
Is it just a way for Noddle to try to get you subscribe to credit improvement service etc

Before anyone asks no defaults, court judgements, on election register, correct address etc,etc on Noddle

Did you pay experian more?

That's the only reason these companies are supplying you with a made up money, they won't lend you money so ignore the scores, just check the actual file.

reclusive46

While I wouldn't pay for either, Noddle's score always generally seems to be on the low side for most people, they then 'conveniently' offer products to supposedly improve your score.

Superscrooge

It all depends on the algorithms they use to generate your credit score. I've greatly increased my credit card debt over the last couple of years, all at 0% with sufficient savings in high interest current accounts to pay off the balances when the 0% deals expire, so no worries there.

What I have noticed is that Noddle and Clearscore still give me a good score. They seem to put more weight on the fact that I have no missed payments or defaults, on electoral roll, settled address etc and regard me as low risk. Whereas with Experian as my debt has increased my score has steadily fallen. Experian seem to look at the same credit history and regard me as high risk because I'm carrying a lot of debt.

The credit providers only see your credit history, not your score, so I wouldn't worry.

Anthorn

twokcc wrote: »

Is it just a way for Noddle to try to get you subscribe to credit improvement service etc

In my own personal experience, yes it is. I did post elsewhere at one time that I was waiting for my Noddle score to go down to 0/5 and then I was going to apply for Amex. But I got bored waiting and applied for an Amex CC and Amex charge card and got both of them without any problems whatsoever. On Noddle right now this minute I'm still 1/5. It's worth mentioning that my scores on Experian and Equifax are just a few points below the maximum possible.

Experian are now providing for free "Experian Creditmatcher" along the lines of Noddle and Clearscore providing a monthly update of score and credit comparison/matching.

I wouldn't go so far as to say that the score provided by most CRA services are meaningless. It's a guide to what can be expected but nothing more than that.

datlex

Credit reports are a law unto themselves. I for example have no negatives listed and several positives. Yet my credit rating is fair to good according to the credit agencies. They don't seem to take into account changes to suppliers as opposed to additional suppliers. For example if you were with O2 for your mobile and went to Three you would see your credit rating fall although you would not actually have more credit providers. Or if you change insurance provider. They don't seem to recognise when your financial commitment has reduced by making those changes and mark you down for having an account with a different supplier. They also can't understand spending on cards and paying off in full each month. It registers a snap shot of your credit card balance which may or may not be after you have made a payment. For example on one of mine one month it was showing a balance of over £1200. This was because I had just paid off my council tax (I have a rewards card) and was yet to transfer the saved up funds to cover the payment. The credit agency reports this as short term debt. Finally they don't take into account other factors such as your current income.

Jlawson118

I've noticed that Noddle isn't really all that accurate anyway, and my score with them hasn't really changed over the last five or so months whereas my Clearscore one makes much more sense. I've heard many other people saying Noddle isn't the best credit checker out there

DCFC79

Jlawson118 wrote: »

I've noticed that Noddle isn't really all that accurate anyway, and my score with them hasn't really changed over the last five or so months whereas my Clearscore one makes much more sense. I've heard many other people saying Noddle isn't the best credit checker out there

Don't worry about the score as no 1 sees it but you.