Noddle help

Vicky.s

Hello,

Ive been using noodle for a few months now and was adviced to get a credit card to help re-build my credit rating. Last month my rating was at 564 this month its gone down 517! Ive paid my credit card off in full for the past 2 months, i also have a over draft that is paid off every month. Theres nothing on my acount saying negative effects or positive so i dont understand at all. Me any my partner are trying to get a mortgage and i have no chance with that score. But i dont understand why its gone down anybody got any ideas? Ive emailed noddle but got to wait for a reply

[Deleted User]

The score has gone down because it is fictional and has no meaning.

Who told you that you can't get a real mortgage with a fictional number of 517?

National_Debtline

Hi Vicky and welcome to MSE,


zx81 is correct that future lenders do not see your score. When you apply for credit your credit file(s) will be checked along with your affordability. They will be looking at information such as your credit history (which sounds fine - no late or missed payments), whether or not you are on the electoral role, anyone you may have financial associations with etc. You will also discuss income and expenses and general affordability with most mortgage lenders now.


There are 3 credit agencies and Noddle uses Call Credit. You may want to check the other 2 to try and get a more detailed picture of your history (don't put too much stock in the score). You can check www.Experian.co.uk and www.equifax.co.uk but don't sign up for an expensive subscription, you can get a one off (statutory) report from each for £2. We also have a factsheet about this that may help you - https://www.nationaldebtline.org/EW/factsheets/Pages/credit-referencing/credit-reports.aspx


Laura
@natdebtline

Vicky.s

We were looking through a mortgage adviser who said we coupd only get one with a really high fixed interest rate of almost 5%

Superscrooge

Stay out of your overdraft

Keep using your credit card and paying off in full each month

Stop worrying about your score.

[Deleted User]

Did he explain the reasons why? I assume constant use of your overdraft will be a major factor.

If he knows his stuff, then hopefully he's placing it as best he can.

Vicky.s

Was just a bit of a shock today as i was hoping it would of gone up not down. Im doing all i can to try and improve it but feel down about it at the moment

[Deleted User]

Take heart from the fact that a reliable way to improve it to go bankrupt.

It tends to reset the score to the maximum, the same way as an 18 year old normally has the maximum score.

Then ask yourself whether 18 years old and bankrupts are top of the mortgage lenders lists of safe bets or not.

Vicky.s

I have a ccj and 6 defults from my past (will be off in sep after 6 years) but my rating was going up so i dont know why its suddenly gone down. I use my over draft but pay it off every month. Im hoping to be out of it compleatly this month and not dip into it

Superscrooge

Is your mortgage adviser independent?

eg. You don't want a Halifax mortgage adviser who can only advise on Halifax mortgages.

Have you also registered for free with Clearscore and MSE credit club?

[Deleted User]

Vicky.s wrote: »

but my rating was going up so i dont know why its suddenly gone down.

Please don't make me answer this again.