Why has my credit rating not improved significantly?!

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Samsung_Note2 wrote: »
    Did you even read what ive said...its an indication of how your report reads.

    Tell you what send over £50 to my paypal account and i"ll send you a copy of my credit report along with these made up numbers and you tell me im still wrong.:D;)

    It's not an indication at all - far from it.

    Again, people with a score of 999 can get rejected for a £20 per month SIM only contract, but people with a score much, much less get accepted for a £300,000 mortgage.

    Go figure.
  • System
    System Posts: 178,094 Community Admin
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    Pandora00 wrote: »
    Tarambor - I didn’t think it was too much debt but maybe you’re right...

    Nasqueron - yes I have stopped the applications now as I’ve realised they are seriously hurting my score. I should know better anyway. I don’t know why I applied so much.

    Salary; £65k
    Total credit limit; £30.5k
    £3.7k on mbna 0% until jun-19 (will be paid off by jun-19) if not before
    £1.5k in Halifax 0% until jun-20 (will be paid off next month)
    Amex is paid off in full every month
    No balances on other cards.
    PCP: £5k left to pay.

    Thanks for the breakdown. No idea what your mortgage is if you have one but I would be surprised given your income and the fairly sane balances in comparison that this is the issue.
  • Candyapple
    Candyapple Posts: 3,384 Forumite
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    Tarambor wrote: »
    Thanks for the breakdown. No idea what your mortgage is if you have one but I would be surprised given your income and the fairly sane balances in comparison that this is the issue.

    It's probably down to the £30k total credit limits plus the circa £10k remaining on the car finance = £45k plus OP wanting to take out new finance (lets say they spend £20k on new finance) on top of this could have caused potential lenders to become spooked because then they would fail on affordability.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • Nasqueron
    Nasqueron Posts: 8,836 Forumite
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    Samsung_Note2 wrote: »
    Did you even read what ive said...its an indication of how your report reads.

    Tell you what send over £50 to my paypal account and i"ll send you a copy of my credit report along with these made up numbers and you tell me im still wrong.:D;)

    It sounds like you just want to argue for the sake of it rather than accept you are wrong. Look at the fact everyone else is telling you the same thing, even the credit agencies admit it and yet you must be right.

    I have a BT card (was empty at the start of 2017, then did a new transfer last year, going down), PCP (decreasing, ends in August this year), 2 credit cards paid off in full every month, been on electoral roll in same place 15 years, pay monthly mobile. No missed or late payments ever. No other loan or any other debt. My "score" (529) has been the same on Equifax/Clear score since October 2016 (as far back as it goes on the website). Really good indication of anything
  • Emily_Joy
    Emily_Joy Posts: 1,244 Forumite
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    My "credit rating" is way lower than the one of friend of mine who has got a sequence of late payments for a loan for a year and can't get neither decent credit card nor a phone contract. Yet I have been offered a 0% 36 months purchase card with a limit of a third of my take-home year's salary.
  • Nasqueron
    Nasqueron Posts: 8,836 Forumite
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    I checked Experian for the first time yesterday with the MSE club for a laugh so now I have accounts on all 3

    Noddle - 626 / 710 with a credit "rating" of 4/5
    Average score in my area 613
    Average UK score 615

    Clear score - 529 / 700
    Average score in my area 415
    Average UK score 380

    Credit club - 999

    So Call Credit think I'm just a bit above the local and UK average and that local and UK average are fairly high. Experian say I'm not quite as good but the local area is slightly above half way and UK score is fairly poor but Experian think I'm perfect
  • Samsung_Note2
    Samsung_Note2 Posts: 774 Forumite
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    Nasqueron wrote: »
    It sounds like you just want to argue for the sake of it rather than accept you are wrong. Look at the fact everyone else is telling you the same thing, even the credit agencies admit it and yet you must be right.

    I have a BT card (was empty at the start of 2017, then did a new transfer last year, going down), PCP (decreasing, ends in August this year), 2 credit cards paid off in full every month, been on electoral roll in same place 15 years, pay monthly mobile. No missed or late payments ever. No other loan or any other debt. My "score" (529) has been the same on Equifax/Clear score since October 2016 (as far back as it goes on the website). Really good indication of anything

    Hang on you and others feel in there opinion they are right,so i must also agree with you and them.

    Well shock horror sweetheart that's not going to happen...its my opinion,my belief and i"ll choose to stick with it thank you very much.

    I read my credit report every month across all three agencies and i can see my report (the fact and figures reported) improving..my supposedly wildly irrelevant score is also very very slowly creeping up...incredible conscience or a snap shot to suggest what way the factual report is heading...think i"ll stick to my point of view cheers.

    As your most obviously a sheep following others i"ll say Baaaaa Move along.
  • Nasqueron
    Nasqueron Posts: 8,836 Forumite
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    edited 6 May 2018 at 12:24PM
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    Samsung_Note2 wrote: »
    Hang on you and others feel in there opinion they are right,so i must also agree with you and them.

    Well shock horror sweetheart that's not going to happen...its my opinion,my belief and i"ll choose to stick with it thank you very much.

    I read my credit report every month across all three agencies and i can see my report (the fact and figures reported) improving..my supposedly wildly irrelevant score is also very very slowly creeping up...incredible conscience or a snap shot to suggest what way the factual report is heading...think i"ll stick to my point of view cheers.

    As your most obviously a sheep following others i"ll say Baaaaa Move along.

    See previous response, you just want to argue. You have been proven wrong several times over. Even the credit agencies admit their number is not seen by lenders.

    You are welcome to your opinion, it doesn't change the fact that the opinion is factually wrong.

    However, let's just play a little game.

    Why does Experian rate me 999/999 but the other 2 don't? Why does Equifax not change their rating of me for 2 years even though my credit rating has obviously got worse (new BT balance) and then better (balance, PCP going down)? How is that a useful rating?

    You are not in possession of specialist knowledge. Your views on credit ratings is incorrect.
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