Experian Credit Matcher

brocagh1981

Good Morning Folks, I have not used this tool to actually apply for a loan but I have done a search via Experian credit matcher. The Results with once company is 90%. In fact I have never applied for a loan on line always via a high street lender in branch face to face. I have an excellent credit score nearly 999 out of 999. The only blip on my credit file is 2 recent credit searches for 1) Mortatge 2) Over draft extension. So could ppl give me some insight too Experian credit matcher. Any feed back on this tool is appreciated!

Kevin

[Deleted User]

The score is only useful if you plan on applying for credit from Experian. Unfortunately, Experian don't offer credit.

The matching results certainly aren't perfect, but can act as a guide. Remember though, a 90% change of acceptance is a 10% chance of rejection.

brocagh1981

Hey Zx81

I am lost on the below

The score is only useful if you plan on applying for credit from Experian. Unfortunately, Experian don't offer credit.

so what is the purpose of the tool?

[Deleted User]

The tool is there to show which lenders you may be successful with.

The score is a gimmick that is not used or seen by anyone, so don't let that drive your decision making.

brocagh1981

zx81

thanks i thought that myself!!

Pixie5740

All Experian have is your credit history. The credit matcher tool is really saying that 90% of people with similar Experian credit histories to yours have successfully applied for a loan with that lender. However, what the tool does not take into account is affordability or your past dealings (going back further than 6 years) with that particular lender. Furthermore, the credit matcher tool also cannot take into account your credit history recorded by the other two Credit Reference Agencies (Equifax and Call Credit) which the lender may also use.

Candyapple

Stop wasting £14.99 now on Experian!!

To get your free credit reports, see below:
Experian: https://www.moneysavingexpert.com/creditclub
Call Credit: https://www.noddle.co.uk
Equifax: https://www.clearscore.com

Don't forget that Experian are paid to represent companies who want to show up in their 'tool search' so if you want a free eligibility check, try this one:
https://www.moneysavingexpert.com/eligibility/loans-calculator/