Help with credit score

DGrayson

Hello all,

I'm looking for some help, please. I am looking to raise my credit score as it currently is classed as 'fair' 767 with Experian and I'd like it ideally to be 'excellent'

Some history about my past credit is in 2010 I took out an IVA after running into problems. I was 3 years into paying the 5 years IVA off (never missing a payment) and my fortunes turned
around for the better and I could afford to pay off the IVA 2 years early so I did in Feb 2013.

Today I signed up for the paid Experian account to view my credit report after seeing on the now free account that my score never seems to improvv month by month. What I've seen has really upset me, there is two factor which are keeping my credit score low according to Experian.

1. I took a credit card with Think Money roughly about 6-10 months ago to help boost my credit score, I buy small amounts each month and pay them off immediately. However the credit limit is only £200, this apparently is bad and works against me. On Experian's website, it says I need to have a £1000 limit as a minimum.

2. My IVA which is now 7.5 years old is still on my credit reports as a 91-month-old IVA record, this again is having (I assume a huge) negative effect on my credit score.

Any suggestion on if I can somehow get the IVA off my file and if the credit card limit is a factor would be very useful.

Thanks in advance

Dan

DCFC79

DGrayson wrote: »

Hello all,

I'm looking for some help, please. I am looking to raise my credit score as it currently is classed as 'fair' 767 with Experian and I'd like it ideally to be 'excellent'

Some history about my past credit is in 2010 I took out an IVA after running into problems. I was 3 years into paying the 5 years IVA off (never missing a payment) and my fortunes turned
around for the better and I could afford to pay off the IVA 2 years early so I did in Feb 2013.

Today I signed up for the paid Experian account to view my credit report after seeing on the now free account that my score never seems to improvv month by month. What I've seen has really upset me, there is two factor which are keeping my credit score low according to Experian.

1. I took a credit card with Think Money roughly about 6-10 months ago to help boost my credit score, I buy small amounts each month and pay them off immediately. However the credit limit is only £200, this apparently is bad and works against me. On Experian's website, it says I need to have a £1000 limit as a minimum.

2. My IVA which is now 7.5 years old is still on my credit reports as a 91-month-old IVA record, this again is having (I assume a huge) negative effect on my credit score.

Any suggestion on if I can somehow get the IVA off my file and if the credit card limit is a factor would be very useful.

Thanks in advance

Dan

I think you need to read some of the other threads on here.

Why are you upset about something that only you can see ?

Whats wrong with 767 ?

Lenders see your history, the score is just a number.

I would cancel the Experian account asap, can get the same report for free from Experian or mse credit club.

You do know there are 2 other agencies and who may rate you higher.

[Deleted User]

Your credit score is irrelevant. Ignore it. All that matters is your credit history.

Continue to use your credit card, but wait for the statement and then pay in full. Don't clear before the statement.

Ignore Experian's views about the credit limit.

Time will do the rest.

DGrayson

Thanks for the reply, I'm only upset as I thought my credit issue where behind me and to see they are potentially still causing issues 7 years later was abitter pill to swallow.

I have already cancelled the account I only signed up for the free one month account, I won't be paying the £15 per month, I just wanted to see if I could get any more info from the upgrade, but you get the first month free so I've not lost any money for it.

DGrayson

thanks for the tip on the credit cards I'll make sure I wait for the statement from now on.

DCFC79

DGrayson wrote: »

Thanks for the reply, I'm only upset as I thought my credit issue where behind me and to see they are potentially still causing issues 7 years later was abitter pill to swallow.

I have already cancelled the account I only signed up for the free one month account, I won't be paying the £15 per month, I just wanted to see if I could get any more info from the upgrade, but you get the first month free so I've not lost any money for it.

As I say no need to be upset, what is exactly on your file ? All green ticks or any negatives ?

DGrayson

All green just 2 red ticks

1. the £200 credit limit
2. 91 month old IVA record

Dobbibill

Your IVA will remain visible on your CR for 6 years meaning if the last payment was in Feb 2013 then it won't disappear completely until approx Feb 2019.

As others have said, ignore the score - only you see it.

Keep monitoring your report to ensure everything is accurate - accounts/dates/payments/address changes if you move etc etc.

Don't forget to check the other CRAs. Clearscore & Noddle provide free versions.

It's just a waiting game now.

DGrayson

thanks everyone for the help