Experian Reports

jo70

Have 'PAID' for credit ratings today formyself and OH both really are good,therefore how can we consider going BK? All i know is that we can't afford the payments.

Sorry folks

fermi

A 'good' credit rating/score means absolutely nothing. Especially those provided by the Credit Reference Agencies.

jo70 wrote: »

All i know is that we can't afford the payments.

That's not something that a "credit score" is designed to assess. :rolleyes::rolleyes::rolleyes:

Merry_Gentry

Yep, mine said my score was 999 out of 1000, doesn't mean a hill of beans!!

So_Sad_Angel

fermi wrote: »

A 'good' credit rating/score means absolutely nothing. Especially those provided by the Credit Reference Agencies.Quote)

Agree entirely Fermi....CRA data is based on keeping up payments,late payments, number of applications for credit in recent past & any fraudulent activity (CIFAS data) registered against your name.. ( or in terms of CIFAS - at that adress).

Quite often the more credit you have then the `better` your credit rating will be!! (assumng you can make the min. pmts) its absurd really...I`ve known people ask for a mortgage/ current accounts & been declined because they have never had credit before!!

Hence the credit companies offer more & more credit (higher limits etc) ...forgive me for being cynical but they DO know how it works ...so I feel must take responsibility for `over-lending`!

Cheers Angelx.

fermi

Yep. The whole system is a bit nuts.

Martin explains it better than I can: It's about profits not risk

So_Sad_Angel

I have to smile because only this weekend I have had a credit card company reduce my limit because I did`nt make the payment on time!! I have held this account for 12 years, always a very,very good payer ( they have earned thousands from me!!) & 1 late payment means that they act this way!

No loyalty in business...obviously

Angexx