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And people say the credit score does not matter....
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Legacy_user
Posts: 0 Newbie
And you lot say scores do not matter....
This is the conversation i just had with my Bank online.
Mark 14:18:28
You are seeing this message online as you have a basic account which does not offer any borrowing facilities such as a loan or overdraft. When you applied for your account your credit score would have been to low to be able to obtain a standard account that could support a borrowing facility. Do you know what your score is now?
You 14:18:58
nope as i was told scores are generic and have no bearing on a creditors decision
You 14:19:05
it supposed to be the history and not the score...
Mark 14:19:56
Your score is based on your credit history.
This is the conversation i just had with my Bank online.
Mark 14:18:28
You are seeing this message online as you have a basic account which does not offer any borrowing facilities such as a loan or overdraft. When you applied for your account your credit score would have been to low to be able to obtain a standard account that could support a borrowing facility. Do you know what your score is now?
You 14:18:58
nope as i was told scores are generic and have no bearing on a creditors decision
You 14:19:05
it supposed to be the history and not the score...
Mark 14:19:56
Your score is based on your credit history.
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Further to this he ran a credit check and he told me what my equifax score was....So when people say lenders etc do not see your score...YES they do.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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No they don't.
They are talking about their own internal score not the CRA generated one.0 -
So how was he able to tell me what my Equifax credit score was then?? and what category it fell in? I.e. Fair, Good Excellent etc.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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You CRA credit score is a reflection of your CRA credit history. This does not change the fact that lenders neither see nor use the CRA credit score. Your score is for your eyes only.
I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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i find you will be incorrect there aswell..... In fact when i went into a loan place the other day they pulled up my credit report and at the very bottom of my accounts that were open and settled that also showed my credit score from the CRA they used....This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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***sigh***I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
no point in sighing is there?? Child.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Two different places?#
Can you provide their names so we can confirm what youre saying with them?0 -
Lenders do not see the CRA scores. At all. Full Stop.
The CRA's even tell you this buried in their FAQ's.
They use their own scoring systems based on your credit history.
As the CRA's are not lenders, how can they possibly score you when applying for a product or service?
You're not giving the CRA any information on the value of a loan or mortgage you want to apply for so how can they score you against it?
Answer - they can't and they don't.0 -
Also if you're looking at an overdraft or loan with your bank or "a loan place", then I suggest you post a SOA in the DFW board so you can be given some advise on cutting back and saving up.
Just answering with my MSE hat on...
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