Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • elusive
    • By elusive 27th Jan 13, 2:02 PM
    • 35Posts
    • 1Thanks
    elusive
    noddle credit score
    • #1
    • 27th Jan 13, 2:02 PM
    noddle credit score 27th Jan 13 at 2:02 PM
    hi is this a correct credit score.. using noodle received email saying they can improve your credit score if you sign up paying a fee every month..
Page 2
    • sfax
    • By sfax 26th Feb 13, 2:23 PM
    • 1,146 Posts
    • 411 Thanks
    sfax
    My credit score is 5/5 with Noddle. I've had real difficulty in getting a new credit card or a loan so not sure how meaningful it is.
    Originally posted by Horseygirl123
    Mine is 3/5 and yet I have a 38k limit across multiple cards with about 30% utilisation and have just been accepted for a new Nationwide 0% BT card with a 6k limit.

    What can we conclude from this? The Noddle score is worthless.
    • Gordon Hose
    • By Gordon Hose 26th Feb 13, 2:27 PM
    • 6,057 Posts
    • 4,113 Thanks
    Gordon Hose
    ALL credit scores are worthless.
    • sfax
    • By sfax 26th Feb 13, 2:32 PM
    • 1,146 Posts
    • 411 Thanks
    sfax
    ALL credit scores are worthless.
    Originally posted by Gordon Hose
    I agree with this statement too.

    I used to think my Experian score was worth something but I've read too many stories of people with 999 scores who can't get credit and looking back now it just happened to correlate with my application success rate at the time.
    • Gordon Hose
    • By Gordon Hose 26th Feb 13, 2:40 PM
    • 6,057 Posts
    • 4,113 Thanks
    Gordon Hose
    It's a randomly generated number based on account activity for accounts reporting to the CRA's. It has no bearing on lenders decisions to hand over their money. The only people who get to see it, is us. And us alone.
  • BugsyBrowne
    Credit scores would be fine if the CRAs sold us the same ones that they sell to lenders if not us as inviduals may getting sold scores rated 990 excellent yet the CRA will send the lender 700 poor which isint quite the way it should work.

    The scores CRAs sell us is a money making scam which doesn't indicate if you're good for credit or not.
    • sfax
    • By sfax 26th Feb 13, 2:53 PM
    • 1,146 Posts
    • 411 Thanks
    sfax
    Credit scores would be fine if the CRAs sold us the same ones that they sell to lenders if not us as inviduals may getting sold scores rated 990 excellent yet the CRA will send the lender 700 poor which isint quite the way it should work.

    The scores CRAs sell us is a money making scam which doesn't indicate if you're good for credit or not.
    Originally posted by BugsyBrowne
    Do CRAs give a score to lenders? I assumed that they just gave a subset of information in an individual's credit report and each lender calculated its own score using this information alongside what was requested in the application. Therefore, your "score" is wholly dependent on the lender and the CRA is just second guessing what the lender's decision is likely to be
  • BugsyBrowne
    Do CRAs give a score to lenders? I assumed that they just gave a subset of information in an individual's credit report and each lender calculated its own score using this information alongside what was requested in the application. Therefore, your "score" is wholly dependent on the lender and the CRA is just second guessing what the lender's decision is likely to be
    Originally posted by sfax
    That's exactly what I used to think until rb10 & yorkshire boy put a couple of links on about what lenders get sold scores from the CRAs.
    • sfax
    • By sfax 26th Feb 13, 3:07 PM
    • 1,146 Posts
    • 411 Thanks
    sfax
    That's exactly what I used to think until rb10 & yorkshire boy put a couple of links on about what lenders get sold scores from the CRAs.
    Originally posted by BugsyBrowne
    Interesting. All good reasons never to waste money on buying an irrelevant score. I like the way Experian charge you again for their sacred score even though you could already be paying 180/year for a subscription. They state the following on their website:

    "It is important that you check your credit score regularly to help minimise the damage that mistakes and potential fraudulent activity can have on your creditworthiness."

    This is very misleading IMO as all you really need to do is check your 2 statutory report about once a year, or before a new credit application.
    • Gordon Hose
    • By Gordon Hose 27th Feb 13, 10:59 AM
    • 6,057 Posts
    • 4,113 Thanks
    Gordon Hose
    Just downloaded my new Noddle credit report. Last month I was 1/5 because of a default. This month I am 4/5 because they've removed the default 2 weeks early!

    And, for some reason, they've removed my closed Natwest Loan I finished paying off in September (all green marks), so not sure what's going on there. I'm now also not sure I trust the accuracy of their information.

    EDIT: Found it
    Last edited by Gordon Hose; 27-02-2013 at 11:23 AM.
  • JohalaReewi
    Do CRAs give a score to lenders? I assumed that they just gave a subset of information in an individual's credit report and each lender calculated its own score using this information alongside what was requested in the application.
    Originally posted by sfax
    They can. As Buggsy said, there have been examples recently where lenders get a score from the CRA. Either as a monthly feed, or a one off.

    It could be that some lenders have contracted out their scoring to a CRA. Maybe that score is done using the lenders rules or maybe the CRAs? Perhaps the lender uses that score with other data? Who knows? Whoever does, is not going to tell anyone too much because it's a commercial secret (like real credit scores).

    All we can still say is that the scores the CRAs do make public are just an assessment of the data they hold, and are not real credit scores. Only lenders can create real credit scores, and they are secret.
  • MarieP
    Hi
    Is this acurate for credit rating
    • SnowTiger
    • By SnowTiger 21st May 13, 3:16 PM
    • 3,912 Posts
    • 2,894 Thanks
    SnowTiger
    Is this acurate for credit rating
    Originally posted by MarieP
    Probably not. A vague indicator, perhaps.

    There are plenty of folk here who have a near perfect credit score, but can't get the credit they want.

    Different lenders are look for different things. And I don't think these credit scores take account of things such as income and employment status.
    • Gordon Hose
    • By Gordon Hose 21st May 13, 4:06 PM
    • 6,057 Posts
    • 4,113 Thanks
    Gordon Hose
    Credit scores aren't worth the paper they are printed on. Each lender uses their own scoring system and don't see the score the CRA's give you anyway.

    All they are really good for is a quick visual indication if anything drastically bad has happened to any of the accounts on your file. Certainly not worth paying any money for, which is the great thing about Noddle.
    Last edited by Gordon Hose; 21-05-2013 at 4:26 PM. Reason: spelling
    • misscutiepie1984
    • By misscutiepie1984 21st May 13, 4:30 PM
    • 1,263 Posts
    • 604 Thanks
    misscutiepie1984
    I just signed up for the noddle credit score thing as I was intrigued as it says im 1/5. It says amount of outstanding debt thats fair enough. Another problem is time at address - But I have been here 5 years surely thats a good thing.
    Official DFW Nerd number 227
    Proud to be dealing with my debts!!!!
  • Berryblonde
    Hi there,

    I joined noddle last month and had a score of 2/5 It showed I was linked to my ex who is running from a lot of debt,no fixed abode etc etc and it also showed the address he uses on my history (he uses it for his bank account car insurance etc) but he's never lived there

    So I thought brilliant after 3 years I can finally get him off.. Asked noddle and they took him and his fake address off and this month my scores gone down to 1/5?!

    I went bankrupt 6 years ago and have used this site for those 6 years to do absolutely everything I can to rebuild my credit score and this feels like there was no point.
    • Fruit and Nut Case
    • By Fruit and Nut Case 22nd May 13, 9:29 AM
    • 3,982 Posts
    • 2,973 Thanks
    Fruit and Nut Case
    ...this feels like there was no point.
    Originally posted by Berryblonde
    Welcome to MSE

    Do not panic. Potential lenders do not see this so-called score. They are provided with the raw data and make up their own minds. Noddle doesn't even know your income which is a pretty important factor in your creditworthiness.
    Are you for real? - Glass Half Empty??
  • Zzzz
    I'm not sure how accurate Noddle is to be honest.

    I've got a clean credit file on about 5 accounts for the past 12 months and only 2 missed payments on 1 account within the last 18 months but still my rating is 1/5

    Is this to be expected?
    Originally posted by locotoro
    today I have checked my experian credit report which has two default accounts entry however with noddle there are additional default accounts entry which have already been either settled or lapsed 6 years and I scored 1/5! wondering if this is correct?
    • The Boss
    • By The Boss 14th Jan 14, 1:34 PM
    • 5,717 Posts
    • 3,774 Thanks
    The Boss
    Mine is 3/5 and yet I have a 38k limit across multiple cards with about 30% utilisation and have just been accepted for a new Nationwide 0% BT card with a 6k limit.

    What can we conclude from this? The Noddle score is worthless.
    Originally posted by sfax
    It's not meaningful in the slightest.
    • Tixy
    • By Tixy 14th Jan 14, 1:41 PM
    • 31,062 Posts
    • 39,469 Thanks
    Tixy
    today I have checked my experian credit report which has two default accounts entry however with noddle there are additional default accounts entry which have already been either settled or lapsed 6 years and I scored 1/5! wondering if this is correct?
    Originally posted by Zzzz
    Hi Zzzz and welcome to the forum.

    It is usually best to start a new thread with your own query to avoid it being missed (as this thread is many months old).

    In terms of your credit files, it is possible and quite usual that the 3 different credit reference agencies hold different information in relation to you. One isn't more correct than another, it is just that they only hold the information that banks/lenders report to them, and many lenders only report to 1 or 2 o f the agencies.

    If you dispute any of the transactions or entries on your credit report then it usually best to write to the creditor directly, although another option is to dispute it with the credit reference agency who should also then raise a query with the creditor.

    When you apply for new credit then the potential lender may search any (of all) of the credit reference agencies so its worth ensuring that none hold inaccurate information.
    A smile enriches those who receive without making poorer those who give

    or "It costs nowt to be nice"
    • CookieRaider
    • By CookieRaider 4th Apr 14, 3:30 PM
    • 2,190 Posts
    • 35,427 Thanks
    CookieRaider
    I have read in other forums that noodle has taken Anything from 12 to 20 from peoples accounts for the Free service. I just used it today has anyone else had money taken from accounts from noodle?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,596Posts Today

7,820Users online

Martin's Twitter