Glitch in Credit Club scores?

jamiewakeham

Morning all. I'm 99% this is nothing to worry about but would like to be sure!

Just checking the Credit Club before putting in an application for further borrowing on our mortgage. The data file looks faultless: all of our repayments are on time, credit utilisation is at 13%, and we know that we have a LOT of disposable income.

The credit score itself is 999. However it's saying that my affordability score is 'very weak', and going in to analyse the affordability score it tells me that my debt ratio and utilisation are both excellent but my disposable income is 'very weak'.

I understand that both the headline credit score and affordability score are generated by the Credit Club and not Experian themselves. I'm working on the theory that this is some glitch in the way that CC is calculating my affordability. Is there anything I might be missing?

PRAISETHESUN

I'd ignore any reference to any of the scores provided by the CRAs or MSE Credit club - they are not an indicator of creditworthiness in any sense and are not seen by lenders. Focus instead on the contents on your credit file - which from the sounds of it is solid. Only your mortgage provider can assess your affordability, so again I'd ignore anything here.

nick74

The affordability ratings in Credit Club are laughably useless and meaningless. The best thing you can do is ignore them.

jamiewakeham

That's what I thought - thanks, both.

I am further reassured by the fact that my wife and I have near identical reports, except that one of us earns 25% more than the other - and it's the higher earner that's apparently very weak! There's obviously an algorithm getting something terribly wrong in there...

[Deleted User]

There’s no algorithm at all really.

The CRA’s are not lenders so cannot possibly judge your lending criteria for a particular banks product.

Likewise the “score” is to be ignored as well