Mse credit club absolutely useless.

Daniel2017

Mse say on there credit club it's important to put the correct amount of money you get in well unfortunately they have set a grand as the minimum amount you can put in the box well if it's that important surely there should be no minimum or are you trying to say you don't want people who have less money to be able to use the credit club.

System

If you earn below £1000 you're not going to find anyone who will lend to you other than pay day lenders and doorstep loansharks such as Shopacheck.

Also at the top of the page:

Important: This is a brand new tool, so we're still ironing out creases, please see our FAQs for help and feedback.

So have you given them feedback or just ranted on here?

Superscrooge

See below post from similar thread

https://forums.moneysavingexpert.com/discussion/5651220

£1,000 annual income is less than £20 per week. If your income is below £20 per week it's unlikely you would be accepted by any mainstream lender

PixelPound

I wonder if the OP mistook the income as monthly not annually, as you say £1000pa is extremely low.

System

Even at £1000 per month you're going to be in the realm of sub-prime borrowing which this site is against.

RG2015

I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..

Torry_Quine

RG2015 wrote: »

I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..

Well said. This is why I signed up and although I have no income had to put £1000

RG2015

RG2015 wrote: »

I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..

To MSE Officials.

Are you able to review this condition of the MSE Credit Club?

Many thanks,
RG

RG2015

RG2015 wrote: »

I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..

RG2015 wrote: »

To MSE Officials.

Are you able to review this condition of the MSE Credit Club?

Many thanks,
RG

Is it possible for an MSE staff member to respond to this issue?

Twopints

No-one from MSE reads all the threads, so not likely to reply on here. Maybe try the Site Feedback part of the forum? :beer:

RG2015

Twopints wrote: »

No-one from MSE reads all the threads, so not likely to reply on here. Maybe try the Site Feedback part of the forum? :beer:

Thanks, I am used to a forum where the moderators read all of the posts. I can see now that this makes sense for a site of this size.