Credit Club - Experian

phillipG

has any one before had an issue when you have had great affordability for months, then out of the blue your affordability has dropped to the red. no major or significant changes to my credit record (checked all of them),  other than me clearing 1 of my 2 credit cards nothing has changed

dr_adidas01

phillipG said:

has any one before had an issue when you have had great affordability for months, then out of the blue your affordability has dropped to the red. no major or significant changes to my credit record (checked all of them),  other than me clearing 1 of my 2 credit cards nothing has changed

I would take the MSE affordability with pinch of salt as the affordability bit on the MSE credit club means diddly squat, its just a marketing tool by MSE and isn't used by any lender nor do they see it.

I seem to recall  a few threads where people have complained MSE credit club has given them low affordability yet they have been accepted for the products they have applied for and vice versa, so that tells you how pointless it really is.

phillipG

dr_adidas01 said:

phillipG said:

has any one before had an issue when you have had great affordability for months, then out of the blue your affordability has dropped to the red. no major or significant changes to my credit record (checked all of them),  other than me clearing 1 of my 2 credit cards nothing has changed

I would take the MSE affordability with pinch of salt as the affordability bit on the MSE credit club means diddly squat, its just a marketing tool by MSE and isn't used by any lender nor do they see it.

I seem to recall  a few threads where people have complained MSE credit club has given them low affordability yet they have been accepted for the products they have applied for and vice versa, so that tells you how pointless it really is.

thanks. i wasnt sure as for months its been in the green then there was a sudden change in my most recent report. the only facroting anomaly was me clearing one of my 2 CC and i failed to see how that would afftect it lol

sparelogin

In the weird and wonderful world inhabited by Experian, paying off debts is nearly always considered a very bad thing.

phillipG

sparelogin said:

In the weird and wonderful world inhabited by Experian, paying off debts is nearly always considered a very bad thing.

typical. lol

only doing it so i can free up the cash to put into savings so i can get a deposit together

[Deleted User]

My affordability on MSE is 0/5 even for sub-prime lending, got a prime credit card just last December, MSE credit club has never worked

Ignore your made up score though, just ensure your history is correct, no lender ever sees the mythical score

phillipG

Deleted_User said:

My affordability on MSE is 0/5 even for sub-prime lending, got a prime credit card just last December, MSE credit club has never worked

Ignore your made up score though, just ensure your history is correct, no lender ever sees the mythical score

yea i can see that from the numerour posts on here. was just a weird thing to suddenly see.

rlmjam

Something fundamentally wrong with the algorithms used I suspect. I have had the same issue. Household income over £80k, no loans or mortgage so lots of disposable income and yet suddenly the system thinks I have no spare cash (but still gives me a score of 999).

[Deleted User]

rlmjam said:

Something fundamentally wrong with the algorithms used I suspect. I have had the same issue. Household income over £80k, no loans or mortgage so lots of disposable income and yet suddenly the system thinks I have no spare cash (but still gives me a score of 999).

The credit agencies don't know your income and household income is moot as credit records are individual (albeit you can have a financial connection between two people). My partner earns upwards of 3x my salary but that doesn't mean lenders are falling at my feet to give me credit