Why has my credit rating not improved significantly?!

Pandora00

Understood - thanks

Emily_Joy

Any old phone contracts?

Any possibility you are registered on electoral roll on a slightly different address?

Samsung_Note2

!!! wrote: »

Exactly - just look at the report and data, NOT the score

!!! have you been bankrupt...was your score 999...?

Ive been bankrupt and my score wasnt 999 and my wife went bankrupt and her score wasnt 999.

In fact both scores across all CRA were pretty much none existent...they have however very slowly crept up as we showed we could borrow and repay money and obviously time has helped.

So the score has increased modestly slowly but surely month on month..year on year for both of us over all CRA"s.

Whilst the score might not be the best indication of your credit worthiness,it certainly is an indication and a low score suggests your report is worth a good read up and take on board whats being reported and why.

Should it be followed blindly..no of course not but as said it shows a snap shot of your over all report.

So you keep stating bankrupts get a 999 score (which you have read and keep repeating) can you tell me what your score was when you went bankrupt.:T

forgotmyname

I bought something on my credit card and paid the bill in full when the statement arrived and my "score" went down..

[Deleted User]

Samsung_Note2 wrote: »

!!! have you been bankrupt...was your score 999...?

Ive been bankrupt and my score wasnt 999 and my wife went bankrupt and her score wasnt 999.

In fact both scores across all CRA were pretty much none existent...they have however very slowly crept up as we showed we could borrow and repay money and obviously time has helped.

So the score has increased modestly slowly but surely month on month..year on year for both of us over all CRA"s.

Whilst the score might not be the best indication of your credit worthiness,it certainly is an indication and a low score suggests your report is worth a good read up and take on board whats being reported and why.

Should it be followed blindly..no of course not but as said it shows a snap shot of your over all report.

So you keep stating bankrupts get a 999 score (which you have read and keep repeating) can you tell me what your score was when you went bankrupt.:T

The scores are of no indication at all.

I know people with a poor score, yet get mortgages, credit cards of £10k+limits, car finance for £30k+ cars and so on.

Regards my score, fortunately I've not had the misfortune of being made bankrupt, and have no intention to, so cannot comment. :beer:

Nasqueron

Samsung_Note2 wrote: »

!!! have you been bankrupt...was your score 999...?

Ive been bankrupt and my score wasnt 999 and my wife went bankrupt and her score wasnt 999.

In fact both scores across all CRA were pretty much none existent...they have however very slowly crept up as we showed we could borrow and repay money and obviously time has helped.

So the score has increased modestly slowly but surely month on month..year on year for both of us over all CRA"s.

Whilst the score might not be the best indication of your credit worthiness,it certainly is an indication and a low score suggests your report is worth a good read up and take on board whats being reported and why.

Should it be followed blindly..no of course not but as said it shows a snap shot of your over all report.

So you keep stating bankrupts get a 999 score (which you have read and keep repeating) can you tell me what your score was when you went bankrupt.:T

People on this board with bankruptcies on their record have reported getting 999 from Experian. The scores mean nothing, at all. Lenders do not see them, they only see the record. You can have a low score but plenty of credit and everything paid in full, you can have a high score with loads of debt - the only purpose of the scores is to encourage you to pay for their services to "raise" the score which amount to:

Get on electoral register
Get a CC and pay it off in full every month
Get a mobile contract/SIM deal and pay off every month
Give it time for the changes to take effect

Nasqueron

Pandora00 wrote: »

Thanks everyone.

GM1880 - I am on the electoral role even though clear score tells me I’m not. No CCJs and no outstanding defaults. All my historical debt has been paid off and doesn’t show on my report.

Letitbe90 - I think you’re spot on! There’s no way they would have given me the credit they have based on my score... but maybe it is just getting out of hand now...

Tarambor - I didn’t think it was too much debt but maybe you’re right...

Nasqueron - yes I have stopped the applications now as I’ve realised they are seriously hurting my score. I should know better anyway. I don’t know why I applied so much.

Salary; £65k
Total credit limit; £30.5k
£3.7k on mbna 0% until jun-19 (will be paid off by jun-19) if not before
£1.5k in Halifax 0% until jun-20 (will be paid off next month)
Amex is paid off in full every month
No balances on other cards.
PCP: £5k left to pay. 3x £167 monthly payments left plus balloon payment of £4.5k to be paid in August. I wanted a slightly bigger car because I have a Ford Fiesta and have a child. It’s not entirely unsuitable but would like a bit more space. Main reason for changing it is because the pcp deal is coming up and I can’t really afford to part with 5k. My plan is actually to buy the car and sell it myself as I think I can make money from it. I can’t just buy it to keep it.
I’m also moving home and am worried that I will not be able to get car finance at all due to change of address...

If you're on 65k and you can't afford the 5k you need to look at finances, saving etc and why you didn't put the money aside for the balloon (not lecturing here, you may have money going to waste you don't realise e.g. old warranty policies, unnecessary insurances etc).

If you need to get a bigger car, go to the dealers who sold the first PCP and see what they will do - the point of PCP tends to be to pay off the balloon by trading in the car and getting a new one on new PCP thus negating the need to pay off the balloon. Unless your car is seriously trashed or has high mileage then the GMV should be looked at

Samsung_Note2

!!! wrote: »

The scores are of no indication at all.

I know people with a poor score, yet get mortgages, credit cards of £10k+limits, car finance for £30k+ cars and so on.

Regards my score, fortunately I've not had the misfortune of being made bankrupt, and have no intention to, so cannot comment. :beer:

Thats really good you havent been bankrupt as it really does !!!!!! you up credit wise for quite a while...my point is you say people with bankruptcies get a 999 score,however been there done and it and sadly you dont.:p

Odd i must be the only person (well wife also) in the entire country that has a credit score slowly slowly get better inline with my over all credit report.

Bizarre that inst it...:eek:

Samsung_Note2

Nasqueron wrote: »

People on this board with bankruptcies on their record have reported getting 999 from Experian. The scores mean nothing, at all. Lenders do not see them, they only see the record. You can have a low score but plenty of credit and everything paid in full, you can have a high score with loads of debt - the only purpose of the scores is to encourage you to pay for their services to "raise" the score which amount to:

Get on electoral register
Get a CC and pay it off in full every month
Get a mobile contract/SIM deal and pay off every month
Give it time for the changes to take effect

Did you even read what ive said...its an indication of how your report reads.

Tell you what send over £50 to my paypal account and i"ll send you a copy of my credit report along with these made up numbers and you tell me im still wrong.:D;)

Candyapple

For the person who doubted that you can be bankrupt and get a 999 score:
http://forums.moneysavingexpert.com/showthread.php?t=4099257

999 scores, keep rejected:
http://forums.moneysavingexpert.com/showthread.php?t=3158508

Experian admit credit score pointless:
http://forums.moneysavingexpert.com/showthread.php?t=4858881

Post #10 is really good on this thread:
http://forums.moneysavingexpert.com/showthread.php?t=3158508

Pandora - you mention that you're on the electoral roll but it's not showing on your file - you need to get this resolved ASAP as this will definitely be affecting your credit history.

Have you checked all 3 of your reports and not just the one?

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.uk