Failed Credit Check - No Reason and no where to find out

Albiecatlover

My husband and I both want a new mobile phone and deal - however, individually we both failed the credit check and then the company 'closed down conversation' Experian shows us both as score 999 (the highest) and 'Excellent' rating. Have gone back to the phone company but they have stone walled us. I am concerned about the fail so have spoken to CAB/ Trading Standards but they say that other than the Experian check there is no way of finding out why. As it is my data, this seems ludicrous and I am worried that it is going to happen again. Any advice welcome please?

la531983

Trading Standards?!?!?!?!

TheMilkmansDad

check you credit files - your "score" and "rating" is fictitious and means next to zero.

could be a number of reasons where declined, most common is lack of credit history.

MyRealNameToo

Albiecatlover said:

My husband and I both want a new mobile phone and deal - however, individually we both failed the credit check and then the company 'closed down conversation' Experian shows us both as score 999 (the highest) and 'Excellent' rating. Have gone back to the phone company but they have stone walled us. I am concerned about the fail so have spoken to CAB/ Trading Standards but they say that other than the Experian check there is no way of finding out why. As it is my data, this seems ludicrous and I am worried that it is going to happen again. Any advice welcome please?

Ultimately if they accept you for credit or not is a commercial decision and they arent obliged to tell you why they dont. Almost no one will as its commercially sensitive and there is always the two risks of either you will manipulate the facts to get accepted and/or you are trying to backwardly solve their decision making process for a competitor.  As long as the decision wasnt based on your race, religion, sexual orientation or other protected characteristics they are free to decline whoever they want. 

All you can do is check your report from each of the three main CRAs and ensure there is no incorrect data on them. Scores are snake oil, no lender sees them as each firm has its own way of making the decisions so ignore that and instead check the actual history is complete and accurate. 

Ayr_Rage

You will never get the phone company or any other credit provider to disclose how they use the information from the likes of Experian.

Request your full credit report from the major agencies and check for any inaccuracies.

If they look clean then you will have failed on the phone company's scoring criteria.

There is always a reason, but you'll never get to know it.

flaneurs_lobster

Are you sure that the phone company uses Experian? Could be using any combination of the three UK agencies.

singhini

Albiecatlover said:

My husband and I both want a new mobile phone and deal - however, individually we both failed the credit check and then the company 'closed down conversation' Experian shows us both as score 999 (the highest) and 'Excellent' rating. Have gone back to the phone company but they have stone walled us. I am concerned about the fail so have spoken to CAB/ Trading Standards but they say that other than the Experian check there is no way of finding out why. As it is my data, this seems ludicrous and I am worried that it is going to happen again. Any advice welcome please?

The mobile phone company don't see the 999 excellent score (that is just what Experian thinks about you). The phone company focus on what the data shows. 

Things like ID verification mismatch, fraud-prevention databases (e.g., CIFAS, National Hunter) If your name or address appears on these systems (even due to error), companies may reject applications outright without explanation). Also Multiple applications in a short time can also have a negative effect. I'm sure there will be other reasons aswell. Ultimately, they don't have to give you a contract if they don't want to. 
You should get a copy of your credit file and review it.

EDIT: that's a good point from flaneurs_lobster  (which CRA did the phone company check?)

Brie

Too little credit as already suggested or too much.  if you have a good "rating" and lots of credit available then that might be why you failed to get the phone company on your side.    So if you both have a couple of credit cards, paid off in full every month, overdrafts that are not used, catalogue accounts that are paid off and have a zero balance, a mortgage, car/house insurance paid monthly = those all increase the level of risk for someone to give you more credit.  They have no reason to believe that you won't go out tomorrow and max out all your available credit and tip you over from having a good salary with little debt to having not enough salary to service the debt.

Also when you check your credit reports see if you are marked as registered to vote and there aren't any unknown CCJs lurking anywhere.  

Albiecatlover

Thanks for the responses. I didnt appreciate that the scoring is worth so little. How do you actually request a copy of the report please, say with Experian?

singhini

You go to Experian website
Click onto "Statutory Credit Report"  (the free version)
Provide all your details (name. address, DOB etc....)
They will either post it to you or send you a code so you can view it online
NOTE: You might have to set up an account if you haven't already got one (im not sure)

Ayr_Rage

Albiecatlover said:

Thanks for the responses. I didnt appreciate that the scoring is worth so little. How do you actually request a copy of the report please, say with Experian?

You'll have to register for a free trial with a CRA and then remember to cancel.

Or you could use https://www.checkmyfile.com/