Moneysavingexpert.com/ Your Credit Rating discussion area

seagull_3

Tippy wrote:

Hi
My 18 year old son is off to Uni this year and applied for a Halifax Student Current Account. He was refused because his total credit score was below the approved level for them to offer him an account. He has a LLoyds under 19 account which has never been overdrawn, no store cards etc and no debts. Halifax advised him to register with Experian to get his credit report. He did this and it shows very little except for the Halifax application and his car insurance. He is on the electoral roll. Halifax said they had no discretion on this and suggested he should get his mobile on contract rather that PAYG. I am disgusted that young people with a responsible attitude to money are penalised in this way. Can anyone suggest a way he can improve his credit score asap without running up debts?
Thanks

Hi Tippy
My son has more or less exactly the same credit history as yours....i.e. flawless & responsible. He has had a current account since the age of 14 (into which the salary from his part-time job is paid) & no debt or overdraft. However, at the age of 18, he has also been refused a student account with the Halifax .... because he has no debt or overdraft!
I totally agree with you that responsible attitudes should be encouraged & am appalled (as you are) that exactly the opposite seems to be the case. Unfortunately I cannot think of any way around this predicament & would also welcome any constructive suggestions. How are other 18 year olds managing to open student accounts with the Halifax?

satish_141

Recently I got refused one credit card and I was surprised!!! as I was expecting my credit rating to be good as I never miss a payment etc...but then when I got the credit reports from Experian and Equifax, both of them showed that me and roja's names are not there in the electoral roll..when I called up the council they told me that both our names have been entered wrongly...

I mean they have my surname as Satish and Roja's surname and Roja where as they are our first names..I told them to change and they changed...but it may take a while for the credit ref agencies to pick up this change..anyway I am in no hurry to get a new credit card...

but one more doubt is

I have 3 current accounts

1 Barclays, 1 HSBC and 1 Halifax which I use regularly..

the Barclays one and the HSBC one I don't use them and they are inactive...would having inactive current account reduce credit scoring any ideas ? if so I will close my Barclays and also the HSBC accounts today...

pls suggest...



Regards,

Satish

Gemmzie

Not sure if anyone has reported back yet (or if this is the right place?!) but the new website https://www.annualcreditreport.co.uk is excellent.

Information given for free is:
Electoral roll confirmation,
CCJs/Insolvencies,
Payment track record,
Credit applications/searches,
Fraud alerts,
Notices of correction registered,
Linked addresses recorded,
Lenders matched to your profile

However, Credit score and rating is £3.77

All information is displayed in green, amber or red - "Green means there’s good information held, red means there’s bad information. Orange means the information is neither good nor bad but may need your attention."

Hope that helps anyone wondering whether to bother with the site

westable

I am a 24 year old student that needs help. I have struggled with finances ever since i can remember. I have just paid to see my credit report through checkmyfile.com. The pages are easy to read and useful. One of the addresses my an old credi card held was wrong so i have duly corrected this. Most of my accounts (the old bad ones) are being held by various debt collectors (such as Wescott and Interim Justicia). Am i going around this the right way. I have agreed payments with the various companies and have been paying them off ok. The struggle is with the length of time it will take to repay. I have also found that i am not on the electoral role for my current address. How long does it take things to go from the report as there appears to be paid off (settled) accounts from a few years ago still on there.

Any help will be appreciated.

More details can be given

Thank you

CommandoJim

Guys, can anyone answer this question.

My wife has recently acquired a CCJ from an outstanding debt before we married.

I'm in a good job and religiously pay on time each month. However, was recently turned down for a loan on our account which the financial advisor at the bank said I should have got. This was applied for in only my name but believe the financial link, through the joint account, has had a negative effect.

If we drop the the joint account will that remedy the problem or is it likely to remain as a "link" on the credit reference file?

tc3061

I had a mobile phone contract with 3 and I wrote to give notification of cancellation (as stated by their terms & conditions). However when I spoke to them the day before the end of my contract for a mobile no transfer code (which I never got given) they asked if I wanted to put 30 days notice on my account, I said no as I had already written. However, they ignored/didn't receive my letter and continued to charge me monthly rental. I wrote to them on several occassions and got no response. I then wrote and explained fully what I believed to be due and sent £7.50 'in full and final settlement of this account'. Of course I didn't get a response, but they cashed my cheque. They then referred the outstanding (they say £201.50, I say £0) to Moorcroft Debt Recovery who have continued to write to me constantly despite my sending them copies of all correspondence that I have previously sent to 3. This has been going on since last August (2005) and today I receive a letter asking for £10 a month arrangement to avoid court action.
BUT I BELIEVE I OWE NOTHING!!

This is also affecting my credit rating - what can I do?

Any help greatly appreciated!

namioxxx

I'm a university student and I took out a joint account with one of my housemates to become the "house account". This was so that everyone could pay into the account and then the rent and bills could come out of the one account. Unfortunately, I kind of knew that having a joint account would link my finances with my housemate's - but she seemed sensible so I didn't see it as a problem.

However, I now know that she's in quite a lot of debt and I'm now worried that it's going to mess up my good credit rating.

Is there a way of removing the link between my housemate and I?

I realise it was a silly idea, but I now just want to sort it out!

Thanks

daveybaby_2

Having just been knocked back by capital one (the 14months @ 0% Platinum card ) i got my report on line from experian.....and found my score was 'only' 661/1000 and listed as poor. no wonder they knocked me back.

prior to this my last action -on the file- was being accepted by amex platinum for the 4.9% LOB deal, just before it closed.

I settled my eggloan during the past month with two big payments (not recorded yet)

BUT, i also got my file online from call credit about a month ago. using the SAME INFO, they scored me as 1316 listed as v good/excellent.

amex use call credit ...i got their card
cap1 use experian.....i didnt get their card.

any suggestions. i feel confused as both files are pretty much the same and their isnt anything on them to " put right"

hanawayh

Ive 'disassociated' myself as much as possible from my husband who is , shall we say reckless with credit. We have no joint accounts, he's not on the property deeds etc. a recent check on my credit file shows nop association yet I've been refused an overdraft from the Nationwide on a new Flex Account because of my relationship with him

hanawayh

I think once you are married you are automatically associated, even though Data Protection Act etc says you shouldn't be, this is my experience anyway