Weird affordability in MSE credit report

kyorin

I have an excellent credit rating with all agencies, however in the MSE Credit Club (with credit score 999 out of 999), my report states that my loan and credit card affordability is "very weak", and then further down the page, says that I have a good chance of getting 98% of card and loan offers. This seems contradictory to me.

I just recently applied for an American Express card and was given an initial credit limit of £12,000. So my question really is, why does it present the information this way? Something seems off. My actual credit utilisation is fairly low.

I'm obviously nowhere near being a millionaire and am probably fairly average in terms of income.

[Deleted User]

Your credit and affordability scores are just gimmicks and not to be taken seriously.

Check your actual credit files and use lenders' own eligibility checkers for a better view.

Grumpy_chap

kyorin said:

I have an excellent credit rating with all agencies, however in the MSE Credit Club (with credit score 999 out of 999), my report states that my loan and credit card affordability is "very weak", and then further down the page, says that I have a good chance of getting 98% of card and loan offers. This seems contradictory to me.

I just recently applied for an American Express card and was given an initial credit limit of £12,000. So my question really is, why does it present the information this way? Something seems off. My actual credit utilisation is fairly low.

I'm obviously nowhere near being a millionaire and am probably fairly average in terms of income.

As far as I am aware, MSE uses data you self-provided for the affordability number.  That may have been from whenever you first signed up.  There is sometimes a question pop up asking if the information is all correct but, again, it is down to whether you put in to the correct numbers or leave them as they were.

The credit card will obtain up to date and verifiable information.

Shanwick

The MSE affordability calculation drops the affordability if you have a very low <1% of credit lines in use. Makes no real sense and most lenders models will be a bit  (a lot?)  smarter.

Trina90

Mine is the same and always has been. I overpay my mortgage by 15k a year so obviously always have lots of money left over every month, but it says my affordability is very weak.

[Deleted User]

MSE credit club has never worked properly, always says that nonsense, don't worry about it

Use credit checkers with the lenders directly

FindMyWayBack

It doesn't work properly, my affordability is high and have low ratio and it says I am 'weak' it's rubbish, ignore it