MSE Credit Club - Debt ratio

Bossworld

Curious to see if anyone can provide an explanation of the criteria that goes into this?

To my knowledge, when I signed up to the new site, the only things I've provided are my gross income, my partner's, and the cost of our mortgage. So anything else would come from Experian.

I'm rated very highly on everything other than debt ratio. The thing is, the site states this is

"unsecured debt: that's credit cards, loans, catalogue accounts, store cards and overdrafts, not mortgages or other secured loans."

Our credit cards are cleared in full every month and currently have a balance of about £200 tops.

We have no loans, active catalogue accounts, or store cards. The overdrafts are not used (albeit they are set up in case of an unexpected DD for example).

Just trying to work out what else is contributing to this? Student loan (income contingent type 1) perhaps?

Credit utilisation is rated as v. good, disposable income as good.

Thrugelmir

Bossworld wrote: »

Our credit cards are cleared in full every month and currently have a balance of about £200 tops.

Forget that they are cleared every month. What is the peak balance at any given time.

Then the measurement will be what ratio this is of your income.

Bossworld

Thrugelmir wrote: »

Forget that they are cleared every month. What is the peak balance at any given time.

Then the measurement will be what ratio this is of your income.

Thanks, makes sense. Tend to chip at it as we go through the month as they're there for cashback earning purposes only. Would say the max throughput is approx 40% of my net pay, or 25% of gross, but there are two of us contributing to both the spending and repayments.

The site suggests (and I know it's only a suggestion) a 90% chance of getting that current Virgin Money credit card with the cheap money transfer rate, which is what I'm after.