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Credit rating confusion.
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thompson_2009
Posts: 20 Forumite
why is it you can login to different credit rating websites and they all give a different score and different options on loans and cards ect.
Why can't they all give the same score rating.
Why can't they all give the same score rating.
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It does not matter what your 'credit score' is, as lenders neither use nor see it.
They all show different scores as they are trying to sell you their differing services as credit brokers.I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job
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So what's the point of having one then?0
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There isn't a point. When you access the Credit Reference Agencies (CRAs), the only stuff of any importance is the actual data recorded on your three credit files. That data determines whether you meet the requirements of a specific lender, whilst the score is not used.I work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
None to very little. If it moves dramatically then it can indicate a problem with the data behind it.thompson_2009 wrote: »So what's the point of having one then?
But other than that, it's a marketing tool.::A0 -
If it's pointless, they make a lot on money from it as they are always advertising on TV. So their is no standard then?0
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No, there's not.thompson_2009 wrote: »If it's pointless, they make a lot on money from it as they are always advertising on TV. So their is no standard then?
You don't have a credit score. You have what these companies perceive your credit score to be. And that isn't seen by any lender. Lenders look at the data and will have their own internal scoring systems."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
They aren't "real" so you can safely ignore them.
They're mere marketing gimmicks to sell you "improvement" products.0 -
Okay thanks for the replies. I suppose it just gives you an idea then how you are doing credit wise.0
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thompson_2009 wrote: »Okay thanks for the replies. I suppose it just gives you an idea then how you are doing credit wise.
Barely even that.
Each lender has their own unique and commercially sensitive criteria.0 -
thompson_2009 wrote: »Okay thanks for the replies. I suppose it just gives you an idea then how you are doing credit wise.
Not really you will see posts on here with people bragging about their 999 Experian Score and can't get a contract phone.0
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