Experian vs ClearScore

nic_c · 23 October 2017 at 10:13AM

matttye wrote: »

September 2015: 477/700
October 2017: 478/700

It has been +/-20 that figure the whole time.

Throughout that time I've had 10 positives and no negatives listed on my account. I paid off some car finance and spent and then paid off about £4k on a 0% interest credit card during that time.

Seems random to me. I usually ignore the score and just look at the information on my report. Just posting this as it's illustrative that the score doesn't really change much even if you take on or pay off large amounts of debt.

Over 2017 I got 2 new 0% purchase cards and opened & switched bank accounts so that I could use the cards and direct wages into savings to earn money whist the 0% is on, and I'll pay it off at the end. So my short term debt has increased with the card usage and my number of recent applications has increased. You would believe that would have a negative impact on my "score". Nope, Clearscore has wobbled but stayed the same (e.g. go down 10-20pt and then back up), and my experian has increased - I was "Fair" with one bank a/c little short term debt, but now "Good" that I have more debt and more applications in the last 12 months.

So similarly I look at whats on the report and use the score for a bit of amusement :rotfl:

System · 23 October 2017 at 11:01AM

Saga wrote: »

That said, what likely reasons are there for me having a 999/999 Experian score but only 487/700 ClearScore (Equifax) score?

They're made up.

How am I supposed to improve my score if there are no negatives?

I thought you appreciated that you shouldn't worry about credit scores? You've already mentioned the important part of your credit profile, what is in it. No negs there and you're good to go.

jfc · 9 April 2018 at 3:56PM

You say scores mean nothing, so my score of 197 with clearscore wont be considered by lenders? am I right?

[Deleted User] · 9 April 2018 at 4:02PM

Correct. No one sees or cares about your score.

RG2015 · 9 April 2018 at 4:04PM

jfc wrote: »

You say scores mean nothing, so my score of 197 with clearscore wont be considered by lenders? am I right?

Yes, you are right.

Lenders will look at your credit history and make their decision based on this.

Samsung_Note2 · 10 April 2018 at 10:24AM

jfc wrote: »

You say scores mean nothing, so my score of 197 with clearscore wont be considered by lenders? am I right?

The big question is...without wanting to be rude,is your credit history pretty poor.?

DizzyBrunette · 12 April 2018 at 12:36PM

So I am extending my kitchen which has proved fairly expensive, and whilst I have a new Kitchen to pay for there has also been build costs which I have either self funded or put on my credit card. (This totals around 8k over both)

I pay my card monthly by DD as well as adhoc payments to ensure I always pay above and beyond any minimum payments.

I have Car on PCP and the usual household bills on DD therefore no chance of default or late payments.

My question is.. when it comes to "Consolidating" these I have been refused despite having a 70% chance as advised on clear-score or offered ridiculous rates (my mortgage provider offered me 2.9% then quoted 18.9% shortly after)

This has got me slightly obsessed with checking my credit score, looking for ways to improve my report and here is what it comes back with.

Clearscore - 492/700 - 70% "Scoring high - stable"
Experian - 785/999 - 78.5% - "Fair"
Checkymyfile - 711/1000 - 71% "2/5 stars"
Noddle - 543/710 - 76%"1/5 stars and poor"

I have one associated person from 2007 which I have queried numerous times with different credit checkers and 2 late payments on Severn Trent Water which is a mistake and they have removed from my account.

So I am really lost and given up all hope of a reasonable loan which would improve my monthly cash flow and reduce the number of accounts open!?

[Deleted User] · 12 April 2018 at 3:00PM

Firstly as mentioned many times in this thread and others, ignore the scores.

Why do the kitchen work if you couldn't afford it?

DizzyBrunette · 12 April 2018 at 3:54PM

Scores are being ignored, more to the point they are baffling and give no indication as to what the actual problem is.

I don't think I have said I have ever struggled to pay any of it? I have chosen to fund it through short term finance rather than a long term mortgage (most people would re-mortgage or take out home improvement loan or withdraw savings) therefore saving money on interest.

I would rather have my savings earning me money (all be it interest is low) and take advantage of the 0% or low rate as I can afford to do so.

Consolidation would mean less DD's coming out throughout the month

easier to sort your finances that is all!

DCFC79 · 12 April 2018 at 8:18PM

DizzyBrunette wrote: »

Scores are being ignored, more to the point they are baffling and give no indication as to what the actual problem is.

I don't think I have said I have ever struggled to pay any of it? I have chosen to fund it through short term finance rather than a long term mortgage (most people would re-mortgage or take out home improvement loan or withdraw savings) therefore saving money on interest.

I would rather have my savings earning me money (all be it interest is low) and take advantage of the 0% or low rate as I can afford to do so.

Consolidation would mean less DD's coming out throughout the month easier to sort your finances that is all!

Consolidating rarely works as something else crops up.
Lenders will see it as extra debt, how much are you thinking of applying for ?

Have you tried applying to a lender ?

Experian vs ClearScore

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