Huge score difference between agencies

boo_star

sleepyjones wrote: »

To be honest, I wouldn't have thought you could be a bankrupt with a score of 999? ... and as for people saying "my score is excellent", I dunno, just trying to not look bad on the forum by saying my score is garbage.

Dunno to be honest, I don't really know much about this kind of thing, I just dip in here every now and then now that I've got a Credit Card and am trying to build a good standing with credit providers (never had a Credit Card until this year and I'm in my 40s so this is all a bit new to me).

Wasn't questioning anyone's responses because, like I said, I know nothing about this kind of thing ... was more of a brain-fart kinda moment where it just came out and I'm trying to understand it better myself

Thanks again for your response BoGoF.

There have been a few bankrupts with 999 scores.

IIRC when challenged on this an Experian rep said something along the lines of "the bankruptcy settled all their debts" which while true, is in no way going to be viewed as a positive by basically any lender.

I suspect it was a load of nonsense to cover up an issue with their scoring algorithm or something but anyway...

sourcrates

The one most relivant fact in discussing CRA credit scores, is that CRA`s do not lend money, so the score they produce is irrelivant to any lending decision made by actual real lenders.

No one else see`s this number, the CRA`s use it as a marketing gimic to sell you credit cards/loans etc by acting as a broker (its all in the small print on their websites) and to get publicity by talking about your "creditscore", and trying to improve this number by marketing the credit improvement products they sell.

Its nothing more than an advertising gimic, like the milky bar kid sold white chocolate, ronald macdonald sold burgers, CRA`s sell numbers.