Credit score!?!?

Lolly18

My credit score is driving me nuts!

It goes up down left rite all over the place and nothing AT ALL has changed on my account.

If anyone had read my other post in loans you will know that I’m waiting for a settled default to drop off in January 2019, that is literally the only bad thing in my report, although iv just noticed two months ago when I was trying to re finanace my car to make it cheaper through a broker I had NINE! Hard checks done on my file which is obviously not good! I never authorised the checks I literally said to the man on the phone and he confirmed no checks would be done.

2 questions

Is there anything I can do regarding the checks as I didn’t authorise them? And how negatively to lenders view numerous checks?

How much notice should you take of the actual score? Completely ignore it? Is it just a completely useless number?

My score changes weekly on Equifax sometimes goes up sometimes goes down.

Iv worked so hard to get my credit file into decent shap and waited a long long time for this stupid £46 default to be removed and the score changing all the time is driving me nuts!!

Thanks

Lolly

Nasqueron

If you look at the sticky at the top of this board or indeed, any number of posts on here you will see that the "score" is meaningless, it's a made up number only seen by you and the CRA, nobody else sees it, it does not affect any credit applications etc


Lenders look at your record (paying off debts, managing money etc) not the score. Just ensure you have a credit card and pay off in full every month ideally by direct debit, get a mobile phone contract and pay that off every month etc and you'll be in good shape.



Only check the credit file for anything untoward such as finance products you didn't take out / fraud.


Soft searches (the sort you are seeing for insurance firms) do not show to lenders and have little impact at all on your record.

[Deleted User]

Just choose the score you like the best and stick with that one.

Lolly18

Nasqueron wrote: »

If you look at the sticky at the top of this board or indeed, any number of posts on here you will see that the "score" is meaningless, it's a made up number only seen by you and the CRA, nobody else sees it, it does not affect any credit applications etc


Lenders look at your record (paying off debts, managing money etc) not the score. Just ensure you have a credit card and pay off in full every month ideally by direct debit, get a mobile phone contract and pay that off every month etc and you'll be in good shape.



Only check the credit file for anything untoward such as finance products you didn't take out / fraud.


Soft searches (the sort you are seeing for insurance firms) do not show to lenders and have little impact at all on your record.

Yea I have read that the score is meaningless, also the searches are hard searches they come up as red “hard search” on Experian

sourcrates

I would suggest in order to stop driving yourself nuts, you stop looking at your credit score, it can become an obsession.


Why is it causing you so much trouble, are you wanting a mortgage ?


what is it you want to get into debt that much for ?

Mr.Generous

All this talk of credit score had me so worried I checked mine, and as I have no money to spend I expected it to be poor, I don't use credit much. Turns out having credit cards and not using them improves your score.

Lolly18

sourcrates wrote: »

I would suggest in order to stop driving yourself nuts, you stop looking at your credit score, it can become an obsession.


Why is it causing you so much trouble, are you wanting a mortgage ?


what is it you want to get into debt that much for ?

Who said I wanted to get into debt?

And yes I do plan on getting a mortgage, which is debt

[Deleted User]

Ignore the scores and just focus on making sure the data in your files are correct.

If you’re using a credit card then use it and pay back in full each month.

Make sure you’re on the electoral roll.

Lolly18

Can I just ask about the eligibility checkers/soft searchers?

What does a hard search see that a soft search does not see? Does a soft search use the score and a hard search use the history?

Iv been reading a lot of post on here where people have been getting high percentage rates on eligibility websites but not passing the actual checks by the lender?

Thanks

Lolly

[Deleted User]

Lolly18 wrote: »

Can I just ask about the eligibility checkers/soft searchers?

What does a hard search see that a soft search does not see? Does a soft search use the score and a hard search use the history?

Iv been reading a lot of post on here where people have been getting high percentage rates on eligibility websites but not passing the actual checks by the lender?

Thanks

Lolly

Nothing uses the score at all - again, no one sees it or cares about it.

A soft search just checks your address details and basic credit info on you.

A hard search will show full account information - balances, limits etc.

An eligibility checker isn't 100% accurate as it only works via a soft search approach.

Lolly18

Another question for anyone that knows

Iv just received my bonus from work which is a LOT more than I thought so I’m going to pay my car finanace off with it.

There’s currently £6321 left to pay until the end of the agreement.

Iv just had a settlement figure to settle today of £4013 obviously that minus the interest up until the end of the agreement.

If I pay that today will it show as like partially settled on my credit file or will it just be fully settled as if I’d let it run to the end?

Thanks again!

Lolly