Credit Rating Help

rutherford777

Hi there,

I was wondering if someone could help myself and my girlfriend.

Since April/May this year we have checked our credit scores online twice. The following were our scores:

April/May: Me 430, Partner 436

We have checked our scores today and they read the following:

November: Me 654, Partner 336

Mine has increased which I was hoping was the case as I've recently got more on top of my finances. My girlfriends however dropped by 100.

The odd thing is, apart from the odd late payment (two since May) and one search my girlfriends score seems to have dropped substantially. She doesn't have as much credit as myself but she is a student and lives with her parents. Her parents unfortunately are very bad when it comes to money - would living at the same address contribute to a drop in score?

We find it strange why my score would increase a fair amount when I have two defaults and a couple more late payments/searches than my girlfriend. I too live with my parents but they manage their money very well (referring back to the credit/address statement).

Myself and my girlfriend are both on the electoral roll and both similar ages (22 myself, gf 21).

If I have missed any info which could be important let me know and I'll see what I can provide. We're simply just trying to get our heads around why her score has dropped considering my finances look in worst state!

Many thanks in advance,

PJR

moneysaver12

where did you find out your credit score from as i would like to find out mine

rutherford777

moneysaver12 wrote: »

where did you find out your credit score from as i would like to find out mine

www.creditexpert.co.uk

30 day free trial for the report but your score costs £5.95, although I think you can use quidco to get some cashback on it!

moneysaver12

thank you for this

rutherford777

No problem

CLAPTON

All potential creditors have their own system of scoring for their products depending upon their target audience.

'Credit scores' from credit agencies are merely ways of them making money and they can't be used for any useful purpose.

You would be much better to look at your actual credit records and see what they say about your history and to concentrate on your finances so you dont have any more missed payments.

rutherford777

CLAPTON wrote: »

All potential creditors have their own system of scoring for their products depending upon their target audience.

'Credit scores' from credit agencies are merely ways of them making money and they can't be used for any useful purpose.

You would be much better to look at your actual credit records and see what they say about your history and to concentrate on your finances so you dont have any more missed payments.

Sods

But why would Experian (in this case) determine my girlfriends score as very poor when my history looks a lot worse yet I have a better score?

CLAPTON

obviously one would need to see all the data for each of you before commenting but as I say it isn't used by any creditors.
And even then it may not be obvious.

Much more important is why does your GF have 'odd missed payments'?
If she/you want a good credit record attention to such things is very important.

rutherford777

CLAPTON wrote: »

obviously one would need to see all the data for each of you before commenting but as I say it isn't used by any creditors.
And even then it may not be obvious.

Much more important is why does your GF have 'odd missed payments'?
If she/you want a good credit record attention to such things is very important.

Poor time management with our finances really, no excuses there but we're back on top of that and all going well will be sticking religiously to them.

I understand it would be different for everyone depending on their credit record but how roughly how long would it take to build up a very good/excellent credit record from our current status providing we never miss any more payments?