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.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How reliable are them
Joeisaware539
Posts: 97 Forumite
in Loans
How reliable are them loan predictions on Experian giving you a rating of 95/100% etc. To say you’ll be approved for loan are they accurate?
0
Comments
-
Depends on what is on your credit files.
the only way to be 100% is to apply for the loan.0 -
Experian don't lend you money so their opinion on you getting a loan is moot.If they said 99.9% that still means 0.01% chance you could be rejected when the lender checks your file.If they said 100% I still wouldn't trust it though0
-
They're 85.7% accurate 75.4% of the time.5
-
I'd get an eligibility check directly from the lender concerned rather than from Experian. In my experience they are usually pretty good, although 95% acceptance still means than 5 people out of every 100 who apply are not accepted. Even 100% or "pre-approved" doesn't necessarily guarantee acceptance, as things can still fall down when they undertake their additional checks. The only way to know for sure is to apply0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards