Credit scores oh dear !!

glentoran99

GingerBob wrote: »

And what would that be, then?


You've got to laugh. This whole debate could be knocked on the head instantly by someone showing us a screenshot. But no one will. I wonder why not?

I imagine because of Data protection laws but that would be just a guess

Stevie_Palimo

In the vast majority cases when a application has been made it may be for lets say £100.00 as a payday loan well as long as the income and outgoings show a affordable difference and the application lists employer and outgoings correct such as phone bills and so on a full credit search will not be carried out it will be more of a soft search so to speak. Since the rule changes and tightening up on lending more is done to look at affordability and a few factors are taken into account, If someone wants a £1500.00 loan over 6 months as opposed to a £100.00 loan over a 30 day period then a hard search will be carried out and this does not contain any credit scores from the few agencies.

GingerBob_3

glentoran99 wrote: »

I imagine because of Data protection laws but that would be just a guess

That excuse could be used, but I'm betting it's because no one has actually seen one. I'd also be interested in what gets seen by searchers carrying out a so-called 'soft search'.

Stevie_Palimo

Soft search indicates that you are indeed at that address and limited other info including dob and so on, Hard search will show full details on individual minus the number that people go on about, When saying that we know your credit score from a few years ago lets be realistic and look at how many companies offer this facility, 3-4 and with that in mind would you know what each one had scored you within a few year period.

MABLE

I can only go by my experience with Barclaycard a few years ago. I could not understand why I never received any promotional offers from them and the advisor at BC said my internal score with them was excellent but was a million miles from the one from Equifax. So based on that they must be able to get some sort of score from the CRA's.

Ben8282

amy2015 wrote: »

I can verify the score too.. after I complained to a lender they told me exactly what my score was on the day I took the loan out! I thought a score was meaningless and they couldn't see it up until that point!

The credit score from which CRA? They tend to be different and sometimes contradictory.

MABLE

Doublestemcellankita wrote: »

Cells found in a number of places within the nephrons have been proposed as candidates for kidney stem cells. The most convincing evidence for the existence of such stem cells is the discovery of a group of cells at the urinary pole of the Bowman’s capsule of the nephron (marked in blue in the diagram above:- For More Visit.
...................................................................................................
Phytoscienceteamasia

Oh I see this is how they work out someones credit score. Nice one!:rotfl:

meer53

I use Experian, no score is visible when searching, what does show are personal details, what products are held and the balances, any other searches made and any defaults/late payments with the amounts of those defaults and whether they're satisfied or not. This information is used along with internal lending criteria to make decisions, there is no "score" for me to view. Whether this is the same for all lenders i have no idea, there may be different levels of access ? The words "credit score" aren't used where i work, we would advise that if a decline decision is made, that we have based it on internal criteria and information from the applicants credit file, NOT a credit score.

Fireflyaway

It seems that recently a large number of people totally dismiss credit scores. I asked a question here about defaults impacting on my score was told the score was irrelevant and to ignore it. It obviously means something or it wouldn't exist. I know its not the sole indicator of credit worthiness but speaking from previous experience I have seen my own score go up and down in relation to my good or bad credit behaviour. Of course lenders need to establish risk so why would they not see it and consider it. If I tell a mortgage lender 'just give me a mortgage, don't check my score because its mythical and means nothing' we all know what would happen. My point is - I know credit scores are just one factor but personally I am convinced they count regardless of others opinion.

[Deleted User]

Fireflyaway wrote: »

Of course lenders need to establish risk so why would they not see it and consider it.

Because they have their own criteria.

The mere existence of something doesn't give it any value.

Look at the Krankies, for example.