Moneysavingexpert.com/ Your Credit Rating discussion area

Hazzinho

No you can check as much as you like. they only see credit applications.

Also credit scores mean nothing so don't worry about that. just make sure the info is accurate.

sue_chick

hey, think this is the best place to ask....

i got married and moved house last year and wondered how much this would affect my credit score? when i moved house i bought a sofa from dfs (interest free) but had some issues with getting the finance - i think it was because i had just changed my name as things seemed to sort out when i told them my maiden name, but they said the finance wasnt picked up by one company and so i had to go back in and sign another form as it was picked up by another (while im not really sure what that means, i assumed one company had rejected me, but the other accepted me...)

anyway, a couple of months later my husband and myself went to buy a car. it probably wasnt the best time to buy as although I had just got a pay rise, there would be no evidence of this yet, i explained that we had just moved house and changed my name to the salesgirl, but she said it would be fine. as i expected we were rejected, but she couldn't tell me why.

i do have a lot of credit cards, but working to pay them off by the summer (hubby just got full time job after being off for a year with M.E. so we're throwing all we can to clear our debt). my question is how much my name change would affect my credit rating? also the change of address? we've moved into a place that has a pre paid electric metre and i think it was coz a previous tenant ran up a bill - so i've got a feeling this probably affects me too. any advice?? i've tried to get an experien credit report before, but cant remember seing a 'score'.

also, as part of our trying to get out of debt plan, we have put all our direct debits into my account and use our joint account for spending money. will this affect me as my wages go into my account and pretty much all disappear due to direct debits - my husband gets paid into our joint account which gives us our spending money.....again does this affect me?

sorry for the long post, but i hope someone out there can give me some answers

Hazzinho

Changing name and address will not affect your credit too much. Moving address is ok once you've made payments for about 6 months after living there. Are you on the electoral roll at your new address, electoral roll is a must for your credit report.

The main reasons for rejections are if you have defaults or ccj's or you have borrowed too much money, if your debt (excluding mortgage) is over 50% of your annual wage it's not good, also if all your cards are nearly maxed and you have a high balance to credit limit ratio that's also bad. If you have any Payday loans that is an additional flag you are struggling. Multiple applications for credit in a short space of time is also negative. From what you say it's sounds like you may have too much debt on cards.

Ignore credit scores and look at the points I've made.

P.S. previous occupants at your address can't affect you in any way unless you are financially associated with them (joint accounts).

Get your £2 reports from Experian and Equifax and the free one from Noddle and make sure it all looks ok.

sue_chick

thanks

good to know about the address, and yes i am on the electrol register.

within the next 6 months i will have paid off my bank loan and most of the credit cards, so by the time we look at cars again, most of our debt will be gone which is good. will try to look at my credit report again and see what it says. thanks

sue_chick

also, does it make a difference if some of my credit cards are still in my maiden name? its such a hassel to change it all over and iv cut the cards up so not even using them.

Hazzinho

If you don't use the cards in your old name then cancel then as they'll still be on your credit file, best to close excess open accounts as it makes you more attractive to lenders.

Mandras_Man

Advice please from anyone in the know.......?

I have three credit cards (all close to limits) on quite penal rates but have just paid off a loan. Therefore can afford to consolidate debt at a fairly high monthly repayment figure for either a single new credit card or more likely new loan.

As per MSE's info Nationwide looked the cheapest option for a new loan at just over 6% for £14,900, plus as reported by MSE I did not expect any application to show on my Credit Report. Did the online quote and was offered the money at over 13%!!! Needless to say I did not take them up on their kind offer.

Just got my Experian £2 Credit Report through the door and under the "Previous Searches" section there in black and white is my Nationwide Building Society - Personal Loan Quotation.

Can anyone shed any light on why this has happened as I thought this lender did soft searches when providing quotes?

This Search now appears to be stuck on my credit report for 12 months.

creditnewbie2012

Hi,

I'm new to the forums and credit cards so please bear with me.

I'm a current account holder with nationwide.

I recently applied for a credit card with them, online.

I was offered an APR of 9.9% which i thought was pretty good, but decided to have a think about it before finalising the application.

When I went back to the application 24 hours later, the APR had gone up to 15.9% which I thought odd, so I cancelled it again.

When I went back in a 3rd time, it had gone up to 19.9%, which further shocked me, as the information I had put in had not changed from the original application.

I called Nationwide and they said it could be because each time I went into the application, a new credit check was conducted, thus upping the APR.

What can I do about this? I've not got any credit cards, haven't completed any of these application, and I'm worried my credit score has now been affected.

The form didn't say at any point that if I continued my credit rating would be affected.

Any advice is very very welcome.

Thank you.

Hazzinho

Multiple credit applications in a short space of time is negative, for all lenders know you've got a bunch of new credit products. Credit takes a month or so to appear on your file so they must assume you've been accepted for each application until a good few months pass. I'd go into your bank and explain the situation as they'll know you don't have the additional credit, the online application will be automated. Every time you apply for any credit it's logged so only apply for the credit you want. i usually use comparison sites and then apply for the product i want. Also get on the electoral roll if you're not on it as that is important on credit files.

tomba_2

***WARNING***someone registered with creditexpert by Experian in my name, found out my details and within 30 minutes they emptied my bank accounts!!! Their Victim Of Fraud Team is now investigating....in the meantime my 3 bank accounts are all FROZEN and i'm broke!!! AVOID CREDITEXPERT as it appears that anyone can register IN YOUR NAME and know all there is to know about you!!!