And people say the credit score does not matter....

Gaz83

Milotti wrote: »

Credit scores matter ive seen no proof to the contrary on here. Its a point of real contention lol

There is literally proof on this very thread that lenders don't see CRA scores.

MisterP123

camelot1971 wrote: »

Shame you quite clearly can't manage money and therefore can only get a basic bank account.

MEEEOW! :rotfl:

[Deleted User]

Milotti wrote: »

Credit scores matter ive seen no proof to the contrary on here. Its a point of real contention lol

Other than the numerous posts on here and the CRA’s even admitting themselves that lenders don’t see them?

xebruary

The CRAs do sell a score (several actually) to lenders, whether it is the same one that is generated for you I am not sure. Small lenders can use the CRA score if they don't have the resources to build a scorecard of their own.

As for the customer service person telling you about your score, it is rather likely that they are just as (un)clued up as you are. It is the risk function that builds the scorecard and defines the policy, you often find that customer service staff have a mental model of how the application system works that is completely wrong. Where I work there are CRA scores put on the front screen of our application system but they have no bearing on the decision.

Mobeer

Broadyx wrote: »

https://equifaxuk.custhelp.com/app/answers/detail/a_id/682/kw/lender/session/L3RpbWUvMTU0OTg5NzkyNy9zaWQvZlVuUGFuWVBnT2x4MHZybWlUdzZhb0EwcGpQY0dWb3ozdmRBb3ZpRnJvRnNqMjQ0eTNFQ3EyNWglN0VHNDJlQ3ROS1g2dDRDYTI0UnNwM0FlYnI5ZnRPam1CY2hUM1V2VXR3U0dBNzBCM0RRNVhPX3kxaFNSWTlTeXclMjElMjE%3D

That link says
"Lenders typically use their own specialised scores"
Note the use of "typically" rather than "always".

Equifax do provide credit scoring to firms:
https://www.equifax.co.uk/business/short-term-lending-score/en_gb
"Our short-term lending score is a risk score developed specifically for short-term lending to help you make better decisions and reduce your exposure to risk."

or Risk Navigator:
https://www.equifax.co.uk/business/risk-navigator-scores-suite/en_gb
"Risk Navigator Score Suite is a suite of market-specific scores that assess a consumer’s credit risk, helping you make effective and consistent credit decisions."

or using Equifax Ignite:
https://www.equifax.co.uk/about-equifax/press-releases/en_gb/-/blogs/equifax-ignite-data-and-analytics-suite-launches-in-uk
"Ignite Models and Scores uses the unique expertise offered by Equifax analysts, data scientists and consultants alongside the Ignite analytical capabilities to deliver a consultative, tailored approach to solving business challenges at speed"

[Deleted User]

The CRA sell “scores” for businesses.

Not for consumers as you see your credit score in your credit report.

[Deleted User]

Oh dear - someone's gotten up on the wrong side of the bed this morning or just a troll who's off from school

jimbo26

He'll be ok once he's had his coco pops, and a pop tart

jimbo26

The_fonz wrote: »

no wonder people struggle to get guidance or help these days when we have people like you.

You didn't come on here for guidance, your original post was to inform all normal people they were wrong.

[Deleted User]

And you're what - a ray of sunshine?

You're ignoring the advice and answers that knowledgeable people are giving you.

Just because you don't like the answer you've been given there's no reason to give all the attitude