Noddle Credit Score
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ive got all three, I don't fixate on scores and only apply for credit I am likely to be accepted for. currently rebuilding my battered credit history and I agree with nothing you have said. Those scores are meaningless as it has been stated time and time again thy are a snapshot into an individuals credit worthiness at that time. Considering most information is updated monthly and takes a while for new credit agreements to be loaded onto one of three, all three, or 2 of 3 it is impossible to ascertain credit worthiness from an individual without knowing all 3 scores and ratings and then I would imagine the algorithm used is a simple one, to give you your score. But each lender has different rules and scores to qualify for products. So to say those scores are gospel truth or have any meaning is on the face of it ridiculous. The actual credit details are I believe what they look at, same as for fraudulent applications, you do not get this from a score. How is it you can be declined by one lender but accepted by another if what you are saying is true? It is the lenders own specific scoring that decides how you fare, and a lot of this stuff is basic stuff available on here. IE. Long term stability in home and employment, Electoral Roll, Land lines instead of mobiles, Existing credit accounts in good order. I have a score of 1/5 with noddle atm, due to be updated today and I expect a big jump, and Experian and Equifax are all in the region of fair , but I have 3 new credit agreements and being registered on the electoral roll to add on. Add to that I have one default which is managed by the original creditor I expect to see my ratings change. If what I believe to be true in the space of one month of one default being marked as settled, and one dropping off as well as the new accounts and registering on the electoral roll and following the rules as stated on here, I expect my scores will show this. It is a ridiculous notion that someone becomes more credit worthy in that short space of time but the targeted products being sent to me are a sign that something on the record has changed and in the eyes of these lenders I have suddenly become an appealing prospect again. I believe scores should be taken with a pinch of salt and you should definitely now think your whole credit worthiness is determined by this factor. If anything, its a gimmick.
All entitled to their own opinion.0 -
Of course you are entitled to your opinion. But that doesn't.make your opinion correct as so many people are trying to explain to you. Lots of people. Why do you think that is?
Your opinion could be that blue is really pink, that the Easter Bunny exists, that Birmingham is the capital city of England etc etc. An opinion (or agenda in your case) does not equal the reality.. Although to be fair, all of the above are more credible than "credit scores".0 -
There is no proof as to whether or not lenders take any notice of a CRA score or not, whereas it is a known fact what the capital of England is for example, so until there is proof, we can only look at opinions and unlike others, I'm not saying mine is correct.0
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There is no proof as to whether or not lenders take any notice of a CRA score or not, whereas it is a known fact what the capital of England is for example, so until there is proof, we can only look at opinions and unlike others, I'm not saying mine is correct.
There has been plenty of evidence. Just because you haven't seen it doesn't mean it does not exist. You will have to take every other person in this thread's word for it.
Let's quote from the main site :
"There's no such thing as universal credit ratings, or blacklist!
Every lender has a 'perfect customer' wishlist, so a rejection from one isn't a rejection from all. Each judges you differently, the list varies for each product and scoring systems are never published.
The tools they use to decide aren't universal, either. As well as your credit file, they also look at application info and any past dealings they've had with you"0 -
Is there? Where?
Fair enough though, if i've missed the evidence showing that lenders do not look at scores I apologise, all i've read is peoples opinions. Where can I see the evidence?0 -
There has been plenty of evidence. Just because you haven't seen it doesn't mean it does not exist. You will have to take every other person in this thread's word for it.
Let's quote from the main site :
"There's no such thing as universal credit ratings, or blacklist!
Every lender has a 'perfect customer' wishlist, so a rejection from one isn't a rejection from all. Each judges you differently, the list varies for each product and scoring systems are never published.
The tools they use to decide aren't universal, either. As well as your credit file, they also look at application info and any past dealings they've had with you"
Is this from the MSE main site? which also says and I quote:
"You'll be given a different credit rating by each of the three credit reference agencies (a snapshot on the day you get it). But lenders use that score as just one part of their decision to lend".0 -
Is there? Where?
Fair enough though, if i've missed the evidence showing that lenders do not look at scores I apologise, all i've read is peoples opinions. Where can I see the evidence?
You're the one arguing about it, so why don't you provide the evidence to prove everyone else wrong?0 -
Gordon_Hose wrote: »You're the one arguing about it, so why don't you provide the evidence to prove everyone else wrong?
As I have explained many times, what I have is an opinion based on a number of factors. My last post above is yet another one of those factors that lead me to believe that lenders do look at your CRA score. Even MSE seem to say it.
Other factors include what is printed on CRA's websites to their customers i.e. lenders as well as a quote from a person at Experian who said they do provide lenders with scores and with information received from someone who used to work at a lender but all these factors seem to be ignored in favour of assumptions.0 -
Oh and p.s. I'm not the one arguing. From the very beginning I have stated my opinion, others have argued it and all I have done is defend my opinion.0
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So, basically, everyone has to agree with your 'opinion'. If they don't they have to provide evidence to back up what they are saying, while you don't?
You're off your head fella. Come on, if you demand eveidence from everyone else to back up their arguments, then you've got to be prepared to do the same yourself. Otherwise you're just making yourself look a Grade A plum, which, in my 'opinion', you are doing a sterling job of.0
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