Moneysavingexpert.com/ Your Credit Rating discussion area

Camilla_2

Hi everyone - first post!

Im very confused about the whole credit rating thing. I checked my credit score, through annual credit report, and they said I have a good rating 857 out of 1000. I have no CCJ's and have been really good about paying my monthly bills on time.
The only thing I did notice on my report was that I had a default that was totally incorect (How can you default on a £0 balance?). After days of talking to Egg they agreed to remove it on Friday, I applied for a loan today through Direct line but didn't get it?!
I was hoping for a loan of £10K over five years to consolidate my debts. I already have a loan with a bal of £6K and various other bedts totalling nearly £10K
Can anyone offer any advice what is going on here? I have an appointment with my Bank (alliance and leicester - who I already have the loan with) but I am very concerned I will be turned down again.

Please help!:o

Tom_Saunders

rating, some people usually the lowest rates will sometimes turn you down if they think yourcredit is going up every year......like most of us in the real world.

Speak to your bank, no reason they should turn you down unless they deem it unaffordable.

good luck.

datone

my rating on zipo is 264....is that awful, or worse ??
who would lend unsecured on that rating £5k...

debtdrinker

Well, from the articles I know there's no such thing as a credit score, but it's easier to refer to it that way.

I had a very high credit score about 3 years ago, yet about 2 years ago i had some financial difficulties with a non paying client a pretty big project and I have slipped into some financial difficulty. I had been doing the credit card shuffle for some time, but over the last 18 months I have stuggled to meet payments, I remortgaged and paid off some but due to the problems before and being denied new cards etc I still have about £8000 on 3 cards.

I'm paying a fortune in interest and charges and would like to put everything onto one card at a lower rate or manage to pay one single lower payment each month.

As I'm self-employed I often have cash flow problems and as I work on projects spanning a couple of months sometimes I go over a month without any payment at all.

I have been declined several cards and loan applications over the past year and am constantly using my overdraft facility and never getting on top.

Any ideas how I can improve on this nightmare!? I have read a lot of the articles but I'm not financially minded (as you can probably see) and while the articles are well written and informative I'd also like some personal feedback from you guys too if possible, thanks in advance!

lettie

help needed please. My daughter has just had her free credit report done with experian. Its not very good she has never been in debt, she had store cards but has paid them up in full and has never been late paying any of them. She has recently had a loan but the payments are taken out by direct debit so they are never behind. I cant understand why her credit report says very poor. Can someone suggest why this could possible be? She applied for a few loans but got turned down would this have anything to do with it? My daughter is looking for a house sometime this year and is worried that this might go against her. She has a current account that she never goes over drawn in. she also has a savings account and put's money away every month. I dont understand why they have said she has a very poor rating when she has never missed a single payment on anything in her life. Can someone suggest something she could possible do to improve her credit rating?

sweening

I've always had a good credit rating, but since leaving my husband and buying a property (which used to be a rental property) I cannot get any credit! Help! Does anyone have any answers - many thanks!

Luke

cashcow wrote:

Credit searches are recorded on your credit file for 6 months, not years. After this they are removed.

It's 12 months I'm affraid.

Luke

sweening wrote:

I've always had a good credit rating, but since leaving my husband and buying a property (which used to be a rental property) I cannot get any credit! Help! Does anyone have any answers - many thanks!

It's because your at a new address

KerryGold

Just checked my Experian file (equifax website is having issues) - I'm confused to see that my Smile current account and CC do not appear on this file (this is good for me as that's the CC I made several late payments on) but if they use Experian (see Martin's list) how come it's not on there?

Colour me confused....
K x

jubileeharbour

If i was to apply for my credit scoring wouldnt that give my details away for the debt recovery agencies if there where any to come pounding on my door!!

jubilee