"How good are your neighbours' credit ratings?"

[Deleted User]

Please excuse the source for this, but if you fancy a giggle...

https://www.dailymail.co.uk/money/cardsloans/article-7128699/People-living-South-East-highest-average-credit-rating.html

:rotfl::money::rotfl:

spadoosh

Mines 800 with 784 locally... screw you plebites.... Nice to know im one of the Jones'. Or would the jones' have a low credit score?


Anywhere lower than Blackpool and Grimsby with 637?

Candyapple

Oh I see, another article sponsored by Experian. They must really be desperate to get people paying £14.99 per month.

Lenders look at your credit score when they decide whether to give you a mortgage, credit card or a loan. Your chances of bagging a good deal, or no deal at all, depend on how good or bad your credit score is.

:wall:

What a load of bullocks.

dr_adidas01

Who cares it's just a number that's made up and isn't used by a lender to make a decision.

Nasqueron

dr_adidas01 wrote: »

Who cares it's just a number that's made up and isn't used by a lender to make a decision.

I think that's the point of the laughing smily in the original post, people still pushing this myth of credit scores having meaning

System

Nasqueron wrote: »

I think that's the point of the laughing smily in the original post, people still pushing this myth of credit scores having meaning

Well..... you say that....

Alas if you study the map, Affluent areas clearly have higher "scores" than poorer areas. So there is a clear correlation of score to wealth of an area.

Now I agree as an individual your score is both worthless and wholly irrelevant anyway as only you see it.

But it would appear from a very macro level. as a whole the score averages do tend to reflect areas accurately. I mean that score map is identical to an affluence map of the UK.

Willing2Learn

beany_bot wrote: »

… Affluent areas clearly have higher "scores" than poorer areas. So there is a clear correlation of score to wealth of an area...

… But it would appear from a very macro level. as a whole the score averages do tend to reflect areas accurately. I mean that score map is identical to an affluence map of the UK.

People who live in affluent areas will obviously be scored higher by lenders as their income is likely to be higher, they will mostly be homeowners...etc...etc...I live in the ghetto...most people who live near me do not have any credit as they are mostly in debt...it is not rocket science

System

Willing2Learn wrote: »

People who live in affluent areas will obviously be scored higher by lenders as their income is likely to be higher,

Income doesn't appear on your credit file and so can't be a factor in your "score".

Willing2Learn

beany_bot wrote: »

Income doesn't appear on your credit file and so can't be a factor in your "score".

Your income is part of the data submitted to a lender in any credit application, and is therefore of significance when a lender scores a customer in accordance with their independent criteria and policies.

System

Willing2Learn wrote: »

Your income is part of the data submitted to a lender in any credit application, and is therefore of significance when a lender scores a customer in accordance with their independent criteria and policies.

The map is of Experian "scores". Not lenders in-house scoring.

[Deleted User]

The scores also shown in the map are comedic value at best and are not to be taken seriously.
Hence the “fancy a giggle” part.

Were you to apply for a mortgage with a lender and you currently reside in a “high score” area or from a “low score” area, the outcome will still be the same.

For a laugh I signed up to the Credit Club using 2 different emails and quoted 2 different salaries on the application.

Low and behold the “scores” were significantly different despite the data on my credit files being exactly the same.