credit rating ex but no credit

rodneyjackson32

Hi
Need some help/advice, I have checked with all the credit reference agencies and have a excellent rating on all but cannot get credit anywhere.
I notice that there was a slight difference in address from one to another (this is not real address but an example -this would be correct - 564 jordan house, 254 gents street london xxx xxx
This is what the address is down on my file as - 254 flat 564 jordan house, gents street london xxx xxx
on experian they have both addresses but the wrong one is confirmed as electorial register address
is this the problem, I have contacted equifax and experian and they say this mistake in address is unlikely to affect me getting credit.
thx for any assistance/advice
rod

[Deleted User]

Try to get the addresses corrected.

However, what really matters is your credit history. Check the detail on all three, taking care to ignore the scores and ratings, as they're not used in credit decisioning. 

rodneyjackson32

thx I have a amazing credit history never missed any payment and never very high amount, only couple of credit cards really but when i do eligibility check i get zero from all for loans

[Deleted User]

Your credit history doesn't sound that amazing. More like a limited history.

Once you've checked all three files, we'll have more information to work from.

rodneyjackson32

My current address on all credit files is from 2008, upto date on all payments no outstanding loans or credit card debt, all agencies have me all green on everything even looking into it no issues apart from the address bit, unless im missing something i dont understand

rodneyjackson32

So I wrote a message to check my file and they said the address will not cause me issues, and my file comes up to prospetive borrowers when searched but they say this:
When you apply for credit, you will always be at the discretion of the individual lender and will be subject to their own criteria that you will need to meet. In this instance, you hold a number of credit card accounts with considerable headroom available. This can influence a lenders decision if you already have credit available to you through existing accounts. Is this even a thing to have too much credit available

[Deleted User]

It's a thing, but not a very common thing. And if the advice has come from a source like 'checkmyfile', it can generally be ignored.

What accounts do you currently have, with what limits?

Have you done anything about getting the addresses corrected yet?

rodneyjackson32

I have furniture loan for outstanding £1600, I have 4 credit cards total credit on them is £31k all on zero as paid off each month in full, argos card with 3k thats the lot

sambaird

I think the advice from Checkmyfile here is actually spot on - you have a considerable amount of unused credit available to you already.

Lenders will consider the worst case scenario when considering applications - so they will be looking at the ‘what ifs’... the main one being what happens if you max out that 31k available? Could you afford payments on that as well as any new credit?

Now... in the real world that behaviour  may be unlikely for you - but an algorithm won’t make that distinction.

if you really do want/need credit from other sources than you currently have available to you, you may want to cancel down one or two of the current credit cards you have.

rodneyjackson32

ok thx for your help I do have a couple of old cards I dont use so will cancel them and go from there, thx again

rodneyjackson32

Just recieved this aswell

Thanks for your message.

Settling an account which is currently paid on time and up to date may actually result in your score decreasing in the short term as you will have fewer active accounts with which to demonstrate positive payment behaviour. Having said this, if you are looking to apply for credit then paying off your existing debts would demonstrate that you are able to manage credit effectively.

It might be best to simply reduce the limits om the cards you do have. A reduction in your credit limit or an increased balance on your credit card account will affect the ‘headroom’ that you have on your account, but it won’t have an adverse impact on your checkmyfile score.

I hope this helps to explain but if you have any further queries please do not hesitate to get in contact.

Kind regards,

Kev
checkmyfile