Credit check - Switching from Prepaid meter to regular

bobbybobbo

Hello

We just bought a property which has a prepaid electricity meter. No gas in the property only electricity.

I called British Gas (the provider) to ask to switch to a regular meter. The guy ran a credit check and said it came back negative. He said that my score needs to be above 800 to qualify. I was surprised as I have always paid bills, credit cards on time, never late and have just been given a mortgage. He said that's odd as you need a score of 1300 to qualify for most mortgages, so I should have easily passed their 800 requirement.

I have just checked my experian credit score and it is 864, but out of 999. None of it makes sense really. He was talking about scores of 1300. Is there another type of experian credit score?
Can anyone offer me some advice?

Thanks!

footyguy

bobbybobbo wrote: »

Hello

We just bought a property which has a prepaid electricity meter. No gas in the property only electricity.

I called British Gas (the provider) to ask to switch to a regular meter. The guy ran a credit check and said it came back negative. He said that my score needs to be above 800 to qualify. I was surprised as I have always paid bills, credit cards on time, never late and have just been given a mortgage. He said that's odd as you need a score of 1300 to qualify for most mortgages, so I should have easily passed their 800 requirement.

I have just checked my experian credit score and it is 864, but out of 999. None of it makes sense really. He was talking about scores of 1300. Is there another type of experian credit score?
Can anyone offer me some advice?

Thanks!

Scores are meaningless - they are individual to those that craete them.

Probably best to ask on this board
http://forums.moneysavingexpert.com/forumdisplay.php?f=257

more about cretit ratings, what affects them, and how they can be improved in a general sense ... but you will never know for sure what an individual company assess you as, or why.

Won't the supplier even allow you a credit meter backed by a fully refundable (with interest!) security bond for 12 months?
If not, then something sounds really bad .. but it's not for me to judge.

Raxiel

It's been widely reported that EDF (among others) don't do credit checks in these circumstances, you could always switch to them and then apply for a change.

There are three credit reference agencies Experian, Equfax and Call Credit, each with their own records. You can check your report with each for a nominal statutory fee, but each agency has a 'free' service that lets you view the information on your report alongside offers for credit cards and loans etc, they also offer the famous 'score' as well as services to help you improve that score for a monthly subscription fee.

Call Credit has Noodle.co.uk, Exquifax has Clearscore.com, and Experian has the 'Moneysaving Expert Credit Club' (Yes, the same moneysaving expert that provides these forums). While the score isn't something any lender would use (they make their own judgement on the details in the file) you should still register for all three so you can see that the information held about you is correct.

I'm not surprised you got turned down by British Gas, I have relatives that also had good credit histories and were able to get a mortgage yet got turned down for a meter swap, nothing to do with their rating despite what BG said, it was down to the fact they were first time buyers and didn't have a long history of paying a utility bill on either of their records.

bobbybobbo

Raxiel wrote: »

It's been widely reported that EDF (among others) don't do credit checks in these circumstances, you could always switch to them and then apply for a change.

There are three credit reference agencies Experian, Equfax and Call Credit, each with their own records. You can check your report with each for a nominal statutory fee, but each agency has a 'free' service that lets you view the information on your report alongside offers for credit cards and loans etc, they also offer the famous 'score' as well as services to help you improve that score for a monthly subscription fee.

Call Credit has Noodle.co.uk, Exquifax has Clearscore.com, and Experian has the 'Moneysaving Expert Credit Club' (Yes, the same moneysaving expert that provides these forums). While the score isn't something any lender would use (they make their own judgement on the details in the file) you should still register for all three so you can see that the information held about you is correct.

I'm not surprised you got turned down by British Gas, I have relatives that also had good credit histories and were able to get a mortgage yet got turned down for a meter swap, nothing to do with their rating despite what BG said, it was down to the fact they were first time buyers and didn't have a long history of paying a utility bill on either of their records.

Thank you. This reply was very informative. I had heard that EDF was easier. Might just switch to them to avoid all the faffing around. Thanks a lot

pappa_golf

robin hood energy do not do credit checks , move to them on pre pay then change over , HOWEVER if you let elec/gas go to emergency within 3 mths the transfer will be cancelled

Joyful

British Gas have a high score to pass. I believe it's over 900. I often find people fail after buying a home due to the credit checks done for Mortgages and furnishings. That's why it is always advised to try again 60 days later.

jack_1992

We had same issues with British Gas.
Went to EDF, despite some faffing around like having to wait 30 days of being a customer but this does count from day 1 of agreeing to switch, we are now about to have both of our meters changed over.
I am glad too, didn't fancy messing around with keys and cards to top up if didn't need to.

bobbybobbo

jack_1992 wrote: »

We had same issues with British Gas.
Went to EDF, despite some faffing around like having to wait 30 days of being a customer but this does count from day 1 of agreeing to switch, we are now about to have both of our meters changed over.
I am glad too, didn't fancy messing around with keys and cards to top up if didn't need to.

I've also now switched to edf. Called them yesterday and they've started the process. However they specifically said it will take 3 weeks or so to switch and then we have to wait 28 days after that point before we can request a change of meter. In any case at least it's getting done, and I don't have to waste my time investigating credit scores and reports to figure out how and why BG rejected me.

jack_1992

How odd. I'd double check the 28 days after the 3 weeks because as soon as my 3 weeks was done and they were the provider, I went on their live chat and organised swaps because it had already been the 28 days.
Either way, good move. Made it easier for us, can't be bothered faffing with BG. Their score is too high. Feel like they want people to stay on prepayment as they make more money as no discounts for DD.

Cardew

jack_1992 wrote: »

Feel like they want people to stay on prepayment as they make more money as no discounts for DD.

All of the Energy companies state just the opposite and gave evidence to a Parliamentary Committee to that effect.

The administration costs of the scheme, together with Government imposed restrictions on pre-pay tariffs mean that they are effectively subsidised by other credit customers.

I wonder also if there is some form of 'postcode lottery' that influences the decision to change pre-pay meters.