Confused about Bank of Scotland Recoveries Team and letters I have

boo_star

crazyshady wrote: »

What would they tell me that would give me an indication on whether I would have a good chance of a successful application?

Yes? Approved? Something like that?

crazyshady

I will do all 3 just now.

crazyshady

On Noddle it says my credit score is 585. My credit rating is 3/5. Their score has a maximum value of 710. The average in my area is 616. The average across the UK is 615. There's been 2 searches in the last 30 days. My short term debt is £1,405. My long term debt is £0.00. They have an eligibility checker on their site for balance transfer cards also and it's saying the Capitol One 6 months card is pre approved. I have very good eligibility with Lloyds and Halifax One. It says 60% of people with your profile get accepted with this card.

I am looking at the details of the report and everything is up to date apart from the Bank of Scotland Credit Card. It says there is a late payment. It shows me all the way back to June 2012 and for May 2018, February 2016 and September 2012 there were late payments. Everything else has a green tick and is fine.

There have been no searches made on Callcredit in the last 24 months. Under other searches it lists the one I've just did and Capital One Bank Money Super Market powered by Capital One which I did earlier. I thought they didn't add those eligibility checkers to your credit file? Everything else is fine. No loans. No CCJs.

crazyshady

I am on ClearScore. My credit score is 391 out of 700 (on good ground). Your credit score is stable. The average in my area is 330. The UK average is 380. There are no changes in 2018. They tell me 10 things I am doing well and there is 0 things to improve. There has been no corrections made.

boo_star

crazyshady wrote: »

I am on ClearScore. My credit score is 391 out of 700 (on good ground). Your credit score is stable. The average in my area is 330. The UK average is 380. There are no changes in 2018. They tell me 10 things I am doing well and there is 0 things to improve. There has been no corrections made.

You've been on an Arrangement to Pay for at least a year.

Your chances of obtaining mainstream credit are low.

crazyshady

I am on CreditClub now. It says my Experian credit score is 768 out of 999 and it says it is fair. Monesavingexpert credit card and loans affordability is weak for both. Credit hit rate is 5%. I have a good chance of getting 5% of top credit cards and loans. I have a 50% chance of getting a balance transfer card and a 20% chance of getting a top-bad credit card.

There are 4 green smiley faces.

I have no CCJs.

Debt to income ratio - your debts are relatively low proportion to your annual income, so you're in good shape. Lenders are likely to be confident in your ability to repay them if they lend to you.

Credit utilisation. You're using quite a low proportion of the credit available to you. This is usually good as lenders are likely to be resaonably confident in you'd be able to pay them if they lend to you.

Credit applications - Too many credit applications in a short space of time can make it look like you are desperate for cash. You've made none or very few in the last six months, which is likely to be seen as positive.

I got 4 orange faces.

Missed payments - You've missed one or more misplacements.

Account stability - The average length of your financial relationships is less than six years. Stability is attractive to lenders, but on it's own, is unlikely to scupper your acceptance chances. So don't be too scared of switching if there are better deals out there. That's the point of having a good credit score - it enables you to apply for better and cheaper products.

Residential Status - You are not a home owner. Renters and those living with parents are seen as slightly more risky to lend to than home owners. It's unlikely this alone will sink your chances, but it could be the straw that breaks the camel's back. Obviously there isn't a quick fix, so concentrate on ensuring the rest of your credit profile is good.

Employment Status - You don't have an income, or it's erratic. Lenders are likely to be a little bit wary as they may be unsure whether you can pay them back.

I have had 8 searches and those 8 have no impact on my score.

With the Bank Of Scotland credit card is says there is a late payment and there is 3 late payments since 2012.

crazyshady

Well that's me done all 3 and I've posted the results. I've had 3 late payments in 6 years and the only reason I had the latest one is because I was told not to pay anything for 65 days. There is no mention of any default notices or anything else being wrong.

crazyshady

Also nowhere on any of the 3 did I see anything about Arrangement to Pay.

Dobbibill

It's good that you have been able to check all 3 but all the information you've posted is the overview and the CRAs opinion.

If you look into the report in more detail it will show what is being reported for your accounts, specifically the CC.

On Clearscore click on 'Report', then 'Accounts' select the account you want to check and this expands, within that select the 'payment history' tab. It shows one year at a time, with a drop down menu to view other years.

On Credit Club you need to go into the report - view 'Credit Accounts' - It has a menu for open/closed/defaulted accounts at the top. When you go into the CC select 'more details' and it will expand to show previous years.
These are the details you need to look at as these are the same details other lenders will look at. Don't worry about the score, it's not shared.

[Deleted User]

Ignore the scores and ratings as they’re made up.

If you have AP markers and late payments markers they will affect your chances