Credit Club - Affordability Score Low - Why?

DRFielding64

Hi



I use Money Saving Expert’s Credit Club to check my Credit Score.



All is well, I have a score of 991, however one area is puzzling.



My Affordability Score is:

C/Card is Fair

Loans is Weak.



We have a joint income of £56K, a mortgage of only £321 per month and no loans. - Two credit cards, one used for everyday purchases and paid off in full each month, another with 0APR with around 4K.



Considering the above I didn't think we were a credit risk, but the rating seems to suggest otherwise.



I've looked through the site to see how the rating is worked out but can't fine any info.



Can anybody postulate why I'm getting such a low affordability score?



Thanks in advance.

[Deleted User]

I'm guessing that the affordability scores are subject to the same inaccuracies as any other credit score.

They will be making a range assumptions which have the potential for a large degree of inaccuracy. Either way, I'd ignore it.

cjmillsnun

Agreed, even MSE's scores are going to be generated by an algorithm. It may or may not be more accurate than a CRA "score"

gionnetto

From what I understand it's something like
annual income/20 = affordable revolving debt
so if you're annual income is 56000, the combined value of your available credit should be 2800.