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Affordability score
mlawton40
Posts: 40 Forumite
Hi, I've just checked my credit score on credit club and whilst this is 999 my affordability score is very weak... I don't understand why though.
Household income is near 90k with a mortgage of £850 A month. Neither of us have any other debt.
How is this worked out? We do transfer a lot to premium bonds and savings accounts, does it see these payments as outgoings even though they're savings? Very confused and worried it will affect ability to get a new mortgage deal when current one expires...
Household income is near 90k with a mortgage of £850 A month. Neither of us have any other debt.
How is this worked out? We do transfer a lot to premium bonds and savings accounts, does it see these payments as outgoings even though they're savings? Very confused and worried it will affect ability to get a new mortgage deal when current one expires...
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Comments
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Don't worry about it. It's a generic assumption and are mostly meaningless.
None of your scores will be used by lenders. So don't check the scores, but look at the data on each of your files.0 -
I know it's basically meaningless but.... out of idle curiosity is there anyone on here who's affordability doesn't show as 'Very weak' on Credit Club?
Mine started showing as such late last year for no apparent reason. It seems a very common complaint on the forum and makes we wonder if there's a problem with their site?0 -
I know it's basically meaningless but.... out of idle curiosity is there anyone on here who's affordability doesn't show as 'Very weak' on Credit Club?
Mine started showing as such late last year for no apparent reason. It seems a very common complaint on the forum and makes we wonder if there's a problem with their site?
Mine on credit club is 999 but I have seen it say I was weak on sub prime cards but strong on prime ones lolSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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As far as I know EVERYONE has 999 on credit club. It's mad.I know it's basically meaningless but.... out of idle curiosity is there anyone on here who's affordability doesn't show as 'Very weak' on Credit Club?
Mine started showing as such late last year for no apparent reason. It seems a very common complaint on the forum and makes we wonder if there's a problem with their site?
I just checked mine out of interest. Yup I'm very weak on both affordability ratings. My credit file is tip top, my debt (credit utilisation is like 1%) and my income is decent. Madness.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Just look how stupid this is. Here is mine.
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
As far as I know EVERYONE has 999 on credit club. It's mad.
I just checked mine out of interest. Yup I'm very weak on both affordability ratings. My credit file is tip top, my debt (credit utilisation is like 1%) and my income is decent. Madness.
Yep it seems like something went wrong with the affordability rating on the credit club site late last year and it now shows everyone as 'Very weak', regardless of circumstances.0 -
My "score" is 915 and my affordability is "Good" for both credit cards and loans. I assume it's because my rent is very low and I have no dependents or financial commitments, but who knows really!0
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Ironically before getting mortgage last year score was about the same but both cc and loan affordability were on v.good.
I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
Interesting, so it is obviously still possible to have higher than 'Very weak' affordability, although bizarrely it seems to be only if the score is less than 999!0
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Just to debunk the 'everyone has 999' myth.... And affordability isn't poor for me - although my chances of a top card are realistically 0 percent.0
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