Credit Scores - Laughable

pearsforlife

So my credit score is currently rated as very poor/500 on Experian.

I was given a 50% chance eligibility with AMEX and 30% chance with MBNA, one for cashback and one for BT to get rid of my subprime interest accruing cards.. guess the outcome. 

DCFC79

pearsforlife said:

So my credit score is currently rated as very poor/500 on Experian.

I was given a 50% chance eligibility with AMEX and 30% chance with MBNA, one for cashback and one for BT to get rid of my subprime interest accruing cards.. guess the outcome. 

And this is why the scores dont mean much regarding loans as the lender doesnt see them, they see your history.

Matt8888

Harsh to say they are laughable perhaps, but they are just a very rough guide as to how an average lender might see somebody, but there is no such thing as the average lender. There is plenty of info on this site that explains this area quite well. It has been discussed many times. Incidentally, the chance of you getting a successful outcome for both of these applications based on the % chances above is about 1 in 7. It's not exactly lottery-winning odds!

Grumpy_chap

Is the OP asking a question?

[Deleted User]

In other news....bear !!!!!! in the woods. 

MattMattMattUK

pearsforlife said:

So my credit score is currently rated as very poor/500 on Experian.

I was given a 50% chance eligibility with AMEX and 30% chance with MBNA, one for cashback and one for BT to get rid of my subprime interest accruing cards.. guess the outcome. 

The outcome is that you have very little understanding of the financial services industry?