Credit Rating Intrigue

Pantbach

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.

[Deleted User]

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.

macman

The score is a fictitious number, and lenders don't even see it.