Credit rating

Syed376

I been refused on credit for some reasons, I have checked my experian file and it was showing my credit score 830, but on equifax it showing me 244. Why and how both files have different score even they have more of less same record of mine? I never understand how these companies work? 

ceremony

The score is just a number, the lenders see the file and have their own criteria for making decisions.

Are there any late payments, defaults, CCJs or CIFAS markers on your file? What's your credit utilization? Are you on the electoral role?

cymruchris

Ignore the scores - focus on the data.

Do you have any existing credit lines?

Is your current account on there - how long have you had it?

Do you have a mobile phone contract?

As mentioned above - are you on the electoral roll?

Any negative markers showing?

Do you see 'searches' for the credit that you've been turned down for?

DCFC79

Syed376 said:

I been refused on credit for some reasons, I have checked my experian file and it was showing my credit score 830, but on equifax it showing me 244. Why and how both files have different score even they have more of less same record of mine? I never understand how these companies work? 

That's because the score means not much in terms of finance, Experian etc aren't lenders, the figure is based on your credit history so look whats bringing your score down on Equifax.

There's also Transunion to check too.