Credit card usage impact

Rocksolid

Experian takes and cooks the data from the most used credit agency by mortgage lenders...

So, that score is there for a reason, not only the mortgage, but also the credit cards and other small stuff that I didn't check yet, despite these 2 reasons I can't state if I'll be accepted and on what mortgage amount.

If I continue in this way my credit score will be null soon, and I don't think it doesn't make the difference in credit or mortgage application.

[Deleted User]

Experian is the most used agency, but their scores are the most derided.

Remember that your Experian score is dropping because you're making positive changes.  Their scores don't like changes. So you need to choose between impressing Experian, or impressing lenders.  But only one category can give you a mortgage....

Rocksolid

I get your point, but the only metric for a mortgage is to ask the lenders through a mortgage advisor that has access in one shoot to plenty of them.

The point is, I can make this request once every 3-4 months, man, it's painful to wait so much and pay useless rent, when you are ready to buy...

On the other side, I've got positive deals, but they want the 30% from me, in the London zone, damn, it's easily 100k down for the house I need...

callum9999

Rocksolid said:

Experian takes and cooks the data from the most used credit agency by mortgage lenders...

So, that score is there for a reason, not only the mortgage, but also the credit cards and other small stuff that I didn't check yet, despite these 2 reasons I can't state if I'll be accepted and on what mortgage amount.

If I continue in this way my credit score will be null soon, and I don't think it doesn't make the difference in credit or mortgage application.

If you believe you know more than us about credit scores and so will flat out refuse to listen to the advice, what exactly do you want to get out of this thread?

Read absolutely any guide online about improving your credit rating and it will say the same. If you still insist that everyone is wrong and your general feelings are more reliable.... Good luck!

Rocksolid

I don't doubt what you know, just searching for something that makes more sense to my hears   , a lender can't tell me to improve my credit score and that score is the one we are talking about -_- (that for you doesn't count, as many guides online))

Where's the logic?

callum9999

Rocksolid said:

I don't doubt what you know, just searching for something that makes more sense to my hears   , a lender can't tell me to improve my credit score and that score is the one we are talking about -_- (that for you doesn't count, as many guides online))

Where's the logic?

Well it seems like you do, because you just stated that you don't think we're right!

What lender asked you to improve your Experian credit score (which is different to the credit scores given to you by every other agency, there isn't "a" credit score)? They normally say you need to improve your credit record - which you would be doing by following the advice on here.

onlyfoolsandparking

Having recently just signed up to MSE credit club have to say I'm not that impressed with it. Whilst the data looks correct my affordability for loans is 'weak' and my affordability for credit cards is 'fair' luckily I have sussed out that part of my report is just MSE's interpretation of my file and I don't need to take ANY notice of it. The most important thing is I don't have any missed payments, my utilisation is under 30%, high limits, long time on electoral role etc etc. I would think a lot of peoples imaginary 'scores' are gonna take a real kicking over the next few months but that in reality will be the least of our problems.