Woohoo - 5/5 at last !

HeCh

Yes - very well done Sue for sorting out your financial issues! In combination with improved credit file content, I too would see an increase in score/banding as a general indication that the actions taken to resolve the issues were positive.

Out of interest, did you see similar improvements with Equifax/Clearscore and Experian/CreditMatcher?

DarrenW80

Mine is 2/5
Score 554

Creditscoredream

I know people say credit scores mean nothing but it shows you how your seen by some lenders. And gives you an idea how healthy your history is. I thought mine wasn't bad! 😬
My score is poor and this means I cannot get a loan or mortgage , can't get most credit cards only very high apr 's. I would be over the moon to have a 5/5 and should mean you don't have to worry too much when applying.

ashp_2

Creditscoredream wrote: »

I know people say credit scores mean nothing but it shows you how your seen by some lenders. And gives you an idea how healthy your history is. I thought mine wasn't bad! 😬
My score is poor and this means I cannot get a loan or mortgage , can't get most credit cards only very high apr 's. I would be over the moon to have a 5/5 and should mean you don't have to worry too much when applying.

Declare yourself bankrupt and you will have your 5/5 I would not reccomend applying for any credit for the foreseeable future though.

The score really does not mean much. There is people with CCJ'S and defaults that have a higher score than you. The information and history within is what's important.

heartbreak_star

Candyapple wrote: »

New score in today, 608 which is a 3/5. Have updated the list.

559 2/5 here

HBS x

CakeCrusader

I don't think it means anything. I have 2 late payments on my credit file (from early 2014 when I changed jobs) and 2 very old and paid CCJ's which fall off next year and the year after. My credit cards (Vanquis, sadly, Barclaycard and now Tesco) are all paid on time, I never go over my limit, I pay far more than the minimum payments, and there's no missed payments. I have a O2 contract for my phone which is paid on time, yet my 'score' never budges off 1/5 (550). It was 1/5 (550) when I registered to use Noodle in August last year. It's as low as it can be so I can't see how it's possible to not improve at all when everything's paid on time, I pay far more than the minimum payments, and I don't go over my limit.

So, 1/5 (550)

Kim_13

Am now a 4/5 again with 625. Highest score they've ever given me.

Chappaz

CakeCrusader wrote: »

I don't think it means anything. I have 2 late payments on my credit file (from early 2014 when I changed jobs) and 2 very old and paid CCJ's which fall off next year and the year after. My credit cards (Vanquis, sadly, Barclaycard and now Tesco) are all paid on time, I never go over my limit, I pay far more than the minimum payments, and there's no missed payments. I have a O2 contract for my phone which is paid on time, yet my 'score' never budges off 1/5 (550). It was 1/5 (550) when I registered to use Noodle in August last year. It's as low as it can be so I can't see how it's possible to not improve at all when everything's paid on time, I pay far more than the minimum payments, and I don't go over my limit.

So, 1/5 (550)

The way it tends to work is that the late payments and CCJs will keep your score suppressed until they fall off. Even if you've spent the last few years building lots of other positive credit history, the black marks will take priority.

And this does tend to reflect lenders' positions also. For many, defaults and particularly CCJs can result in immediate rejection regardless of what else is going on in there (depending on what you apply for).

But the good thing is all of that good history isn't going to waste. It's just being suppressed for now. Once those CCJs and late payments fall off, you'll most probably find that your score shoots up suddenly.

So certainly keep going. It will set your file up to look a lot more favourable in a couple of years once those CCJs are gone.

HeCh

That was is a nice explanation Chappaz.

Candyapple

Kim_13 wrote: »

Am now a 4/5 again with 625. Highest score they've ever given me.

Only 2 points away from a 5/5, how mean! :rotfl: