currys

Superscrooge

ste74 wrote: »

hi, im new on here on 2 questions want to ask my credit score is 856 which is in fair, nearly good on exprian pie chart, does any body know what the score has to be to be in good? also whats the minimum credit score for currys as im thinking of getting a new pc, dont want to apply for finance at min till i know score as im saving for a morgage,thank you

Ste74 - Your misunderstanding of how credit scores work is fairly common judging by many posts on this forum.

Using your example. Many people think credit applications work as follows;

You apply for finance from Currys. Currys then contact Experian to find out your credit score. If it's 857 or above you get accepted. If it's below 857 you get rejected.

However that is NOT what happens!

Currys have no interest in the 'score that Experian have given you. They never see your score. They are only interested in your Credit History. eg. How much debt you have? Have you borrowed money before and always paid it back? Are you making loads of credit applications which suggests you are desperate for credit and are high risk etc.

So Currys will look at your credit history together with information you supply on your application form, such as your income, and then make a decision.

The below link might help explain the difference between your unimportant credit score and your important credit history

http://www.moneysavingexpert.com/loans/what-credit-scores-mean.

Also bear in mind that not only does each credit reference agency have it's own scoring system but so does each lender.

This forum has many posts from people confused as to how they had an excellent credit score and still got refused credit or how they had a poor score and got accepted.

There are three credit reference agencies and they will all score you differently.

Experian rate me as 'poor' because I have a lot of credit card debt.(all at 0%). Equifax (Clearscore) rate me as 'excellent' because I have no defaults, no missed payments, never exceeded credit limits, not too many credit applications etc. Noddle rate me as 'fair'. This variation explains why advice is given to ignore credit scores

Regularly check your credit history is accurate and don't worry about what 'score' Experian give you.

27cool

ste74 wrote: »

some people on here seem to be cocky very sure of them selves with the response they leave

I feel that I have to ask. Which part of "Curry's don't see your credit score" did you not understand.
In spite of all the posts to the contrary, you seem obsessed with your "credit score".

csgohan4

Stop feeding the troll, just saying

redpete

sourcrates wrote: »

It an entirely randomly generated number, which means absolutely nothing credit wise.

this is nonsense (but exaggeration for effect). The number is Experian's rating based on their scale and their assessment of the limited information they know about you. It gives a guide about how others might regard you but the lenders won't see the number and they have their own criteria and usually they have more information.