Can I have a loan that I have repaid on time added to my credit score?

SMaskell

Hello

I have recently repaid an interest free loan which I took out through a charitable organisation to complete some studies. I am hoping to be approved for a mortgage soon and I have had some terrible credit ratings in the past. I'm wondering if I can insist that this is taken into account? It hasn't been easy to pay back but I have made sure that I got it all paid on time. Surely that counts for something?

[Deleted User]

No. You can't force anyone who doesn't report to CRAs to do so.

Get a credit card and use that responsibly.

National_Debtline

Hi SMaskell

Welcome to MSE, and well done on paying off the loan on time. It is for creditors to choose whether to report lending to the credit reference agencies. There are 3 different credit reference agencies and some creditors will just report to one of them.

Zx81 is correct, you can’t force a creditor to report a debt. It’s usual to find something in your terms and conditions about how information about the loan will be recorded. You could speak to the lender and ask them if they would willing to report the debt and the repayments to the credit reference agencies but you may find because they are a charitable organisation this is not something that they routinely do.

Susie
@natdebtline

DCFC79

SMaskell wrote: »

Hello

I have recently repaid an interest free loan which I took out through a charitable organisation to complete some studies. I am hoping to be approved for a mortgage soon and I have had some terrible credit ratings in the past. I'm wondering if I can insist that this is taken into account? It hasn't been easy to pay back but I have made sure that I got it all paid on time. Surely that counts for something?

As been mentioned no 1 has to report to the 3 agencies.

Your credit score is just a figure, whats important is your credit history which is what lenders see.