Grrrrr!!!!!!

alligator58 · 11 June 2018 at 1:35AM

I have been recovering from appalling years of misery in the hands of a loan shark , and have recently taken up a mail order credit account with Freeman’s , which I was repaying with my card before changing to direct debit . All my payments have been on time in fact , they were paid early when I paid by card . I was given a small credit limit at first just £100 then after 4 months this was increased to £200 . Now in my eighth month I sent off a £38 order when I had £78 left on my limit , only for my order to be cancelled . I rang up to find up why and was told no further orders would be accepted until my credit file score improved !! As I said , my score is poor but surely by getting credit and repaying it on time , it is improving my score slowly ?? I’m so angry as I’ve been doing everything correctly and then this . They told me they can do this whenever they like and I can do nothing . Is this true ? xx

Ben8282 · 11 June 2018 at 3:23AM

I am very sorry to hear of your years of appalling misery at the hands of a loan shark.
With regard to the catalogue account, yes they can do this as they are not obliged to extend credit to you. However, I would imagine that there would be no problem if you were to pay for the goods by debit card at the time of placing the order and therefore not using credit.
As to why this has happened, obviously I don't know but if you have a direct debit set up and have been making all payments on time for the last 8 months, then something must have seriously spooked them in order for them to have taken this drastic action, especially in view of the very low credit limit extended to you. I find it hard to believe that you would have been told that no further orders will be accepted until your ''credit file score' improves. To me this sounds more line a case of suspected fraud or other account misconduct.

Placitasgirl · 11 June 2018 at 3:27AM

It's important to stop stressing about your "credit score"; it's a made up number that nobody but you can see. There is no consistency to how it is calculated and it really is irrelevant.

What really matters is your credit "history"; making payments on time, not CCJ's etc.

It appears that Freemans are making up a "score" for you and they are entitled to do so, but it is literally that; a made up number.

It sounds to me as if you're doing everything right, so keep this up and if Freeman's don't want your business vote with your feet and find somebody who does.

DCFC79 · 11 June 2018 at 8:26AM

alligator58 wrote: »

I have been recovering from appalling years of misery in the hands of a loan shark , and have recently taken up a mail order credit account with Freeman’s , which I was repaying with my card before changing to direct debit . All my payments have been on time in fact , they were paid early when I paid by card . I was given a small credit limit at first just £100 then after 4 months this was increased to £200 . Now in my eighth month I sent off a £38 order when I had £78 left on my limit , only for my order to be cancelled . I rang up to find up why and was told no further orders would be accepted until my credit file score improved !! As I said , my score is poor but surely by getting credit and repaying it on time , it is improving my score slowly ?? I’m so angry as I’ve been doing everything correctly and then this . They told me they can do this whenever they like and I can do nothing . Is this true ? xx

You sure they said credit file score improved ?
Not sure how they can see something they cant see.

Id ring up again and ask what is up with your account.

I wonder if they refered to the in house scoring system.

Have you checked your credit report ?

sourcrates · 11 June 2018 at 12:06PM

A CRA provides the data companies need but its always the company that decides whether to accept or refuse your application. They make this decision by looking at data from various sources, such as:

Your application form, which may give information about your job and wages for example
The companys own data, if you've been their customer before
Public records, such as the electoral roll
Information on your credit report, held by a credit reference agency

Companies use this information to work out your credit score.

Each company may use a different method, so your score can vary between them. However, you can get an idea of how companies may see you by checking your credit score on your credit report.

So to be clear, your credit score does not actually mean anything, its just an example of how lenders MAY score you.

Grrrrr!!!!!!

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