Credit arrears and credit score

PurplePfeiffer

I've always been good with keeping on top of credit payments and my Experian is 999. I have a credit card and buy maybe one item a year on credit just for my credit score. 

I purchased a laptop on credit a year ago. For some reason, I thought I had set up a direct debit for payments to commence once the interest free period was up. I didn't and I ended up getting into arrears of £120. I also missed any previous letters sent because I have been helping care for a family member so wasn't at home. I paid off the fees and phone promptly. 

The letter states arrears are sent to the credit agency. I know it wont show up now because it's too early. I was told that I can ask that the credit company remove the 'thing' from my credit report as this is a one off and my history is good. I spoke to the credit people and they asked that I sent my credit report to their customer service team to look at. Has anyone got any experience with this? 

CliveOfIndia

First off, ignore your score - it's meaningless, and is not even seen by any lender.

Any late or missed payments will be reported to the CRA, and this will negatively affect your credit history.  The CRA themselves cannot amend data, they only report on the information given to them by lenders.  If the lender is prepared to send across an adjustment, then this will be reflected on your record.

But the missed payment markers are an accurate record of the facts, so you're going to have to speak extremely nicely to the lender - and even then, they may not be willing to remove the markers.

However, one missed payment in an otherwise good history will have negligible impact, especially if superseded by plenty of positive marks.

PurplePfeiffer said:

I have a credit card and buy maybe one item a year on credit just for my credit score.

Making one purchase per year will make almost zero difference to your history (again, ignore the gimmick score).  If you want to build up a good history you need to use the card regularly.  Only use it for planned, affordable purchases (food, petrol, whatever) and ALWAYS repay in full every month without fail (ideal set up a Direct Debit for the full statement balance).  Doing this will begin to build up a good track record of responsible borrowing and repayment, which is what any lender likes to see.

PurplePfeiffer

CliveOfIndia said:

First off, ignore your score - it's meaningless, and is not even seen by any lender.

Any late or missed payments will be reported to the CRA, and this will negatively affect your credit history.  The CRA themselves cannot amend data, they only report on the information given to them by lenders.  If the lender is prepared to send across an adjustment, then this will be reflected on your record.

But the missed payment markers are an accurate record of the facts, so you're going to have to speak extremely nicely to the lender - and even then, they may not be willing to remove the markers.

However, one missed payment in an otherwise good history will have negligible impact, especially if superseded by plenty of positive marks.

PurplePfeiffer said:

I have a credit card and buy maybe one item a year on credit just for my credit score.

Making one purchase per year will make almost zero difference to your history (again, ignore the gimmick score).  If you want to build up a good history you need to use the card regularly.  Only use it for planned, affordable purchases (food, petrol, whatever) and ALWAYS repay in full every month without fail (ideal set up a Direct Debit for the full statement balance).  Doing this will begin to build up a good track record of responsible borrowing and repayment, which is what any lender likes to see.

You're a star, thanks for putting things into perspective.