no credit rating

ronbrown

Hi all, I currently have no credit rating and want to open a busines bank account up so I can register as self employed. Any advice would be much appreciated.

DCFC79

ronbrown wrote: »

Hi all, I currently have no credit rating and want to open a busines bank account up so I can register as self employed. Any advice would be much appreciated.

Its not a credit rating you don't have but credit history. Have you checked your reports with all 3 agencies ?

[Deleted User]

No one has a credit rating.

So don’t worry

SlovakianGuy

Ronbrown, I assume you are not new to the UK, right?
You surely have a credit report (credit file) which in your case may contain no credit history if you've never had a credit card or any other form of credit. However, I haven't had a credit card myself until this year, yet my credit report shows regular "payments" to my current account since 2014 when I opened it. I think it only means I've never been overdrawn and constantly in credit. Not really a credit history. That's why I finally took out a cashback credit card this year (already earned £25 cashback in 5 months of regular shopping that I would have to do anyway).

ronbrown

Thanks for your replies. I initially put the thread Simon when I checked my score on experian, I've singed used clearscore and found out the Equifax have got a score for me.
Does it matter what bank I go to apply for? Do they use both credit companies or certain ones?

ronbrown

Sorry about the last post, auto correct spelling ��

[Deleted User]

Ignore the scores. They're made up numbers purely for comedy purposes.

Look at our actual credit reports - see who is reporting what, and what the status of each is.

If there is a significant difference, you may want to favour one in terms of applications.

SlovakianGuy

ronbrown wrote: »

Thanks for your replies. I initially put the thread Simon when I checked my score on experian, I've singed used clearscore and found out the Equifax have got a score for me.
Does it matter what bank I go to apply for? Do they use both credit companies or certain ones?

There are actually 3 major agencies, not just 2.

Experian, Equifax (via ClearScore website) and CallCredit (via Noddle website). You need to check all three. The three digit credit score is made up but you surely need to check your credit report for possible errors, and also see what kind of information each agency holds. For example, my Aviva car insurance only shows on CallCredit report. Monzo and Starling banks both show on my CallCredit report, while Equifax only knows about my Starling account and Experian shows neither. Someone from Experian has told me Monzo and Starling don't report to them at the moment. Not all companies report to all three agencies, that's why they have different informations about you.
And yes, it does matter which bank do you go to because also some banks use informations from just one credit bureau, some use two and some use three. Two different banks can hold different informations about you, which means one can approve you while other can decline.


Usually you can find out which company uses which credit agency simply by asking them directly. It's not a secret information. I've asked at least 20 companies so far on their Facebook websites