Can't get a credit rating ???

eddyinfreehold

I'm struggling here as my son needs to have a guarantor for a new flat he wants to rent for his 3rd year at university. We had a similar problem for our eldest a year or two back and I had to sort it out with the letting agent personally so they would accept her tenancy. The kids are both students at different universities and letting from private landlords through agents.

The agent requires various ID, bank and employer and salary details and our credit score. I didn't know what a credit score was until we had to act as guarantors two years ago for the eldest and nothing worked then. I fill in all the details, name, email, age, dob, etc etc and they come back blank and give us a 'can't give you a rating.' The current agents won't accept this because they have never seen it before and they have no box they can tick on their computer to OK us as guarantors. It would appear that because we have never taken out bank or other loans, have no credit card debt and no mortgage we appear invisible if you need a credit score. Can anyone suggest a solution if the estate agent can't get their head round this?

DCFC79

eddyinfreehold wrote: »

I'm struggling here as my son needs to have a guarantor for a new flat he wants to rent for his 3rd year at university. We had a similar problem for our eldest a year or two back and I had to sort it out with the letting agent personally so they would accept her tenancy. The kids are both students at different universities and letting from private landlords through agents.

The agent requires various ID, bank and employer and salary details and our credit score. I didn't know what a credit score was until we had to act as guarantors two years ago for the eldest and nothing worked then. I fill in all the details, name, email, age, dob, etc etc and they come back blank and give us a 'can't give you a rating.' The current agents won't accept this because they have never seen it before and they have no box they can tick on their computer to OK us as guarantors. It would appear that because we have never taken out bank or other loans, have no credit card debt and no mortgage we appear invisible if you need a credit score. Can anyone suggest a solution if the estate agent can't get their head round this?

Why would the agent require your credit score.
The agent requires your credit report, there's a difference. Maybe watch Martins show from last week.

So you don't have a bank account ?
Not a mobile phone contract ?

Are you on the electoral roll ?

Who have you tried to get your credit report from ?

eddyinfreehold

What is the difference between a credit score and a credit report ... clueless. We have a bank account and mobile phone contracts and always vote. Who provides a credit report?

[Deleted User]

The credit report is what holds all your financial history and is used by lenders.

The credit score is a largely made up number that the CRA provides to keep you interested in checking your credit report. It's not used or seen by anyone but you..

DCFC79

eddyinfreehold wrote: »

What is the difference between a credit score and a credit report ... clueless. We have a bank account and mobile phone contracts and always vote. Who provides a credit report?

The 3 credit reporting agencies hold data about you, me, everyone in the UK.

MSE credit club can do it for free, they use the data from Experian.

Shakin_Steve

eddyinfreehold wrote: »

What is the difference between a credit score and a credit report ... clueless. We have a bank account and mobile phone contracts and always vote. Who provides a credit report?

If you have had the bank account for a long time, I think more than 15 years, then your bank may not be reporting to the credit reference agencies because they needed your permission to do so at that time. That would leave you two mobile phone contracts which, again, may not be reported. So you may have very little or no credit history for the agencies to build a report on.
Being on the electoral register won’t be enough for them to go on.
If this is the case you are in a very small minority. The only thing I can suggest, if the letting agent won’t accept the situation, is to try another relative. Gran? Grandad? Auntie........

Shakin_Steve

Oh......and don’t go taking out credit you don’t need just to ‘conform’ to modern thinking. All of this credit report malarkey is fine for people who need to take out loans or apply for mortgages, you obviously do not. If you’ve managed without credit and you like to do things that way, then good for you. I wish I was in your position.

eddyinfreehold

Experian were one of the ones who couldn't oblige. I have had the same current account for the last 42 years and had a mortgage from 1981-2002 so I assume I must be off the radar. Awkward...but thanks for the advice...

badmemory

No credit cards at all? My cashback one funds Christmas dinner incl booze. My mortgage was paid of the year after yours. With no record of any credit other than A PAID IN FULL (as he who shall be obeyed says - well Martin not a spouse obviously) every month credit card. 2 years ago I took out (interest free) loans for 1.5 times my annual income with absolutely no problem, I hadn't had any credit at all since 2003 other than the cc & normal utilities. There is something either showing or not showing on your reports which is causing you problems & you should check this out. I'm betting on electoral register!

eddyinfreehold

No, no credit cards for either myself or my wife, shared current account, shared savings account, all utilities paid by direct debit, rates up to date by direct debit, voted at every election since 1976 and have been on the electoral role all that time including 20 years at the most recent address. I will be really cheesed off if the Agents won't accept me as a guarantor, nor my wife.

DCFC79

eddyinfreehold wrote: »

Experian were one of the ones who couldn't oblige. I have had the same current account for the last 42 years and had a mortgage from 1981-2002 so I assume I must be off the radar. Awkward...but thanks for the advice...

You tried Noddle (call credit) and clearscore(equifax) ?

Both are free, maybe try calling Experian as well.