Credit score on here VS clear score

harrietflorence

Afternoon,

So I joined the credit club on here, and found out my score was in the 900's!! (fab!)
However the free clear score, was giving me a score of 293!!?
What is going on!?
I really need to apply for a 0% balance transfer and martin lewis eligibility calc said im 100% approval for a virgin money 0% and 90% for a few others, however how come the two have such different outcomes!?
Many Thanks, Harriet

Willing2Learn

Hi Harriet and welcome to the forum

The good news is that you can ignore both scores. Lenders neither use nor see your Experian or ClearScore credit score. Lenders score you against their own independent criteria and policies using the data within your credit files, added to the data you submit in a credit application.

It seems that eligibility checkers are marketing tools. The eligibility results vary markedly between the different agencies, which is why you are getting two completely different outcomes.

[Deleted User]

HarrietFlorence wrote: »

So I joined the credit club on here, and found out my score was in the 900's!! (fab!)
However the free clear score, was giving me a score of 293!!?
What is going on!?

It's because whereas one of the scores is nonsense, the other one is simply gibberish, hence the differences.

If you check Noddle in the other hand, you will find the score they give you is garbage.

harrietflorence

so basically, i just have to apply for the card, and basically probably get declined because these credit scores are a waste of time, what a shame martin lewis has put his name to garbage then. Very different to what i was taught in insurance then, because I was told that the lenders use the number from the credit check to work against their own file.

[Deleted User]

Check the data on your files. That gives you an easy way of assessing your chances, as a lender would.

[Deleted User]

HarrietFlorence wrote: »

so basically, i just have to apply for the card, and basically probably get declined because these credit scores are a waste of time, what a shame martin lewis has put his name to garbage then. Very different to what i was taught in insurance then, because I was told that the lenders use the number from the credit check to work against their own file.

Lenders do not see, use or care about the CRA scores.

They will take the data on your file and run it through their own system that scores you internally to their criteria.

Use an eligibility checker to see what cards you might be eligible for before blinding applying for cards.

The_Boss

Willing2Learn wrote: »

Hi Harriet and welcome to the forum

The good news is that you can ignore both scores. Lenders neither use nor see your Experian or ClearScore credit score. Lenders score you against their own independent criteria and policies using the data within your credit files, added to the data you submit in a credit application.

It seems that eligibility checkers are marketing tools. The eligibility results vary markedly between the different agencies, which is why you are getting two completely different outcomes.

I don't have anything to add to the advice on here, and sorry to take this off topic, but your signature is truly inspirational and you sound like an amazing person.

Wolvensam

i have poor with Noddle (who give me poor borrowing power), fair with Experian and excellent with ClearScore and TotallyMoney (who rate my borrowing power as 7 out of 10). Doesn't mean anything as others have said.

MEM62

HarrietFlorence wrote: »

I was told that the lenders use the number from the credit check to work against their own file.

The you were told incorrectly.

Financial institutions use the data on your report/file and score against their own lending criterion. The day that CRA's start lending money might be the day their scores derive some meaning.