Old Tesco Credit Card just added to Credit report

Isthisforreal99

Rodtigerz said:

Thanks all for your input - update** I have heard from Tesco and they will have the cancelled credit card removed form my report in 5 weeks. Thanks

You do realise that having a card that you managed well, albeit old, would have been a plus to any potential new lender. Ironically your make believe score may go down again if it's now removed.

Nasqueron

oldagetraveller1 said:

"It's being used as shorthand for "credit report standing" or "credit-worthiness""

Then simply write that.

The problem is that the average person is not financially savvy, a simple "credit worthiness = score" helps someone understand the system. MSE have done some posts where they debunk the score myth

MyRealNameToo

oldagetraveller1 said:

Even MSE have a paragraph about that in their getting a free credit report article. My bold.

"You can easily check your credit report – and it's totally free. Here's a quick lowdown if you know what you're doing and just want to get on with it, or check out our Credit scores guide for tips on how to improve your score.   

Yes, and they receive commission for everyone that then clicks through and applies for credit via their links, it's how the site makes its tens of millions of profit each year. Its also how the various sites like ClearScore work 

If you follow the link it later states:

Credit score (specifically from a credit reference agency): As mentioned above, this is simply a view from one agency, which remember is not the decision maker on whether you'll get credit or not. Lenders use their own scoring systems.

On the basis they flog you their own score they arent going to be so blunt as to tell you its a made up number that you shouldn't care about but it does say its only that firms view and its not the view thats used for making lending decisions.