We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Credit Rating Intrigue
Interesting. So I get turned down on a loan from the Post Office via Money Saving Expert (Martin Lewis) due to a credit report they get back from Experian. MSE advises not to apply for a loan to another lender since this would adversely impact on my credit rating.
So, I approach Experian and subscribe to their free basic credit rating service and receive a rating of 996 out of 999. It also so happens that they act as a intermediary for loan companies, so I apply to Hitachi Finance via Experian and hey presto, I’m granted a loan on exactly the same terms as the Post Office and the money was in the bank within 24 hours.
Smells a bit iffy but what the hell, I got the result I wanted.
Comments
-
It's not iffy - or particularly interesting to be fair. It's just that your score has no bearing on whether you get a loan.
Different lenders have different criteria and you met one, but not the other.0 -
The score is a fictitious number, and lenders don't even see it.No free lunch, and no free laptop
1
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards