Moneysavingexpert.com/ Your Credit Rating discussion area

zhi

olav wrote: »

I have had the same experience! When accepting their conditions you agree on paying every time you see your report but it doesn't mention how much this costs. Not sure if this can be viewed as a scam, but at least this is very dishonest as far as the FREE TRIAL is concerned. So, everyone be warned.
Olav

Originally Posted by babbajam
Hi just thought I'd warn everyone about Experian's free 30day trial Credit report. I signed up for this and viewed my details without any problems until I saw my BANK STATEMENT ...??

There were several payments of £4.99 with Creditexpert's name as the reference.

I contacted them and they said I had viewed my "Credit SCORE" which costs me £4.99 each time I view it.

Apparantly, there is a box that you tick to say you agree to pay this fee but I have since found out that certain Windows Operating Systems (XP) will tick this box for you so you can proceed withut warning!!

I think it's a bit of a SCAM to be honest and you should be clearly notified shame on you Experian
Olav

I have experienced the same problem... I cancelled my free trial membership 2 days after I first registered with creditExpert and received their confirmation on the second day saying there won't be any charges to my account.

I did notice there was an option to add Credit Score for £4.99 and I never checked the box beside "Please add my National Credit Score to my Experian credit report for £4.99*."

I have to say there was really a Credit Score included in the Credit Report but I clearly remembered I did not ask for it. There was a navigation bar on top of the Credit Report and I tried to click on the Credit Score menu. There was no warning or confirmation message at all.

So be very careful when you deal with tricky CreditExpert.

I am waiting for their reply to my complain. If not satisfied I might take the complain further if I have time.

DiscoDoctor

Hey guys

Well i dont know what to make of my credit report. As i am slightly dislexic

But i can say i am on benefits and i would like a loan for £5000. but i think due to the previous tenant i cannot get credit. can anyone help

Yours DD

Debt_Free_Chick

DiscoDoctor wrote: »

but i think due to the previous tenant i cannot get credit. can anyone help

It used to be that your credit report reflected "bad" credit for other/previous occupiers, but that is no longer the case.

Your credit file should only show credit (debt) you've had in your own name - and that of anyone else who is "financially associated" with you. To be financially associated, you would need to have debt, jointly, withy another person.

What exactly is on your credit report?

Why do you need a loan? What level of repayments does your budget support?

steffi1987

littlemissB wrote: »

I have posted this on the loans forum also but i thought someone with a bit of know on credit scoring etc might be able to enlighten me..

Hi
This is my first post on here please bear with me, let me introduce myself, im miss b im 25 working mum of one.

Well my situation is this...

I have one ccj on my credit file (satsfied and was only £195) i jave one default again under 200 pound both of these were from 2002 and i know they will come off in 2008.

I have online access to all three credit ref agencies and monitor closely due to being a victim of identity theft.

Since getting my ccj and default i have managed to obtain a few high interst credit cards and catalouges, which i have used VERY responsibbly and paid off at least usually more of the minimum balance exh month.

I have been searching high and low for a loan that i need to refinance my (AUTHORISED) bank OD as i would like to start being in the black at the end of every month instead of the red.

With my bank and there own personal internal system or whatever it is at my financial reveiew they did in april i got told i have a rating of 1 out of 5 1 being the best..(im very good with my bank account no rejected dd'd or bounced cheques etc) and he advised me to apply for a loan with them (he knew about the default and ccj) subsequently this was rejected.

Anyhow i plodded on with life reminding myself in 2008 i should be able to get the loan and clear the OD.

But got advised that since i turned 25 i would of got a few extra points on my credit file etc.

Decided to have one last ditch at getting a loan with my bank (natwest) applied online (have done this in the past and got an atomatic reject) anyway it gave me the agreement in principle thing and sent the releveant forms (i checked with the CRA'S and they had preformed a search) so i have signed and sent back all requested info plus additional info to confirm ID etc..

That would of been received by them on monday i checked again with the CRA'S today and it says a 2nd and subsequent search had bene made.

Now im a bit confused as of yet no loan has been paid in to my account.. nor have i had a letter rejecting the application.

I expect to get rejected but i wonder (i dont know what you guys think) becuase of my extreme good behaviour with my bank and me having the highest rating they have internally do you thnk they is a chance they would actually give me this loan (bear in mind the 4 yr old satisfied ccj and default)

i only wonder this as normally they have rejected me outright buit this time they didnt...

aghhhh all very confusing, expecting rejection letter tomorrow but hey you never know?!?
any ideas or experiences would be great!!

Thanks in advance and thanks for the great info ive read on here in the past few hours b4 plucking the courage to post!!!

little missB

i would say that it looks quite promising for you that you may very well get the loan when i worked at a loan company in the past thoes who were to be refused were refused straight away and the applications that needed to be thought about usually took a week or so. If you have already signed an agrement for the loan then its looking like you have been accepted. My financial situation is similar to yours i have two defaults on my account from 2 years ago that are both satisfied i really want to try and re-build my credit with a credit card which ones were you accepted for and how long after your defaults and ccjs did you wait to apply for them

rx8al

I recently purchased an experian and an equifax credit report as i am contemplating buying a car.

It is showing as 'fair' on both of them, i am pretty much right in the middle of the sliding scales.

I have a few credit accounts, no missed payments, quite small balances on all, so all should be good.

The only negative part of the report is electoral roll.

I have lived at my address for 15 years or so, but as i am only 19, im only on there for 2.

This way do lenders see me as a risk, as they think i have onlybeen at my address 2 years?

I want a decent sized loan to buy a car (i am earning very nicely) but am worried that i will get turned down automatically, because of this.

The other question i have, is over the last year, i wasnt really aware of the fact that you shouldnt keep appyling for credit.

Now i havent applied for any in the last 3 months, as i am now aware of this, but should i be concerned that i have searched a number of times within the last 6 months, probably about 5, and prob about 10 times in the last year (awful i know).

Thanks for any help!!!

vinodha

Hai,

The Ratings Are In ,
The ratings lie on a spectrum ranging between highest credit quality on one end and default or "junk" on the other. Long–term credit ratings are denoted with a letter: a triple A (AAA) is the highest credit quality, and C or D (depending on the agency issuing the rating) is the lowest or junk quality. Within this spectrum there are different degrees of each rating, which are, depending on the agency, sometimes denoted by a plus or negative sign or a number.
Thus, for Fitch IBCA, a "AAA" rating signifies the highest investment grade and means that there is very low credit risk. "AA" represents very high credit quality; "A" means high credit quality, and "BBB" is good credit quality. These ratings are considered to be investment grade, which means that the security or the entity being rated carries a level of quality that many institutions require when considering overseas investments.
Ratings that fall under "BBB" are considered to be speculative or junk. Thus for Moody's a Ba2 would be a speculative grade rating while for S&P's, a "D" denotes default of junk bond status.

popshed

I am livid. L-I-V-I-D.
I've got an outstanding loan from Sainsbury's bank from 4 years ago, just a year left to pay it off completely, never missed a payment. Every 6 months they call to offer me more money and I consistently turn them down.
So this month my car's decided to pack in and I need a loan to buy a new car. I checked with Sainsbury's exactly how much I could borrow over 3 years or 4 years to keep my repayments roughly the same. I could get an extra 3,000 over 3 years of 4,000 over 4 years but the cost for the latter was an extra £400 and the APR for each was 7.9% so I decided to shop around using the information on this site.
Did a search through moneysupermarket for the full amount plus the amount I would need to pay off my existing loan. I applied to the cheapest (Moneyback bank) and they came in at 9.3% so I turned them down intending to go back to Sainsbury. The guy said they would send me the loan agreement and I didn't have to sign it. I said that I didn't want the loan, it was too expensive I could get it cheaper elsewhere, and I asked him not to send out the documents and to cancel the credit agreement. They refused. Then when I went back to Sainsbury's suddenly I can't get credit. I presume this is because as far as the credit reference agency is concerned I've just taken out a loan from one place and now I'm applying for another. I am so angry. Now I'm totally screwed, can't get credit, can't get a car. :mad:

I wish I could swear.

dutchie

My current account balance has always been +ve, but just used annualcreditreport and it shows my balance was at -£4900 at the end of June! Now I'm not really sure if this means it's in credit or not, but either way it's wrong.

Does anyone know how to get this fixed? I wrote to the bank already. I guess it could explain why I got turned down for a mobile phone contract

Allosunshine

I hate this credit scoring malarky. I've applied for a loan with Norhtern Rock and was turned down. They use Equifax for as they're Credit Agency so I got my report and credit score and it came back as excellent. So I appealed and still got turned down saying 'on this occasion Northern Rock are exercising there right to decline due to set policy' which they wont divulge, fair enough but they wont even give me a hint or point in the right direction as to why I was turned down. To me its just a cop out.

Puddin'

I am wanting to get a loan for a car. Turned down twice for unsecured loans. Decided to get credit report through experian. My credit report is excellent - all previous loans paid up, bank accounts fine.
However, my partner has quite large debts, (cards, loans). After much stupidity he has been paying these back over past few years and working towards him being debt free.

We have a joint mortgage and account which we got before I knew of his debts. Is there anything I can do to get a loan if my report is damaged by him?

Please help!