Excellent credit rating but getting refused

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Comments

  • gb12345
    gb12345 Posts: 3,055 Forumite
    The_Boss wrote: »
    So what data would have outweighed this?

    http://forums.moneysavingexpert.com/showthread.php?t=4099257

    CreditScore = RAND(1,999)
  • You-kip
    You-kip Posts: 499 Forumite
    Experian is a massive company but Unfortuantly its exploiting the less intelligent people of the UK in believing that their scores they sell actually mean something when in reality they're a Con and should be investigated IMHO.
  • Thrugelmir
    Thrugelmir Posts: 89,546
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    You-kip wrote: »
    Experian is a massive company but Unfortuantly its exploiting the less intelligent people of the UK in believing that their scores they sell actually mean something when in reality they're a Con and should be investigated IMHO.

    To be fair to Experian they need to cover the cost of the administration in answering all the customer queries. Seems as if they've dug a rather large hole for themselves. By attempting to have a public face.
  • You-kip
    You-kip Posts: 499 Forumite
    Thrugelmir wrote: »
    To be fair to Experian they need to cover the cost of the administration in answering all the customer queries. Seems as if they've dug a rather large hole for themselves. By attempting to have a public face.

    Or to the Chief Executive who Pocketed $4000000 last year.
  • JohalaReewi
    JohalaReewi Posts: 2,614 Forumite
    On the score issue, this Q&A provides a little more detail on what the score can and can't tell you.

    James

    From that Q&A...
    What you need to understand, however, is that this score is only a guide and is only seen by you. While this can be very useful, any lender you approach for credit will calculate its own score. This score will factor in other sources of information as well, as well as reflecting their own specific lending policies. This additional information includes the details you give them on your application form – for example, about your job and wages – details they may already hold about you if you’ve dealt with them in the past, and details about anyone you are financially linked to. Lenders often fine tune their scoring to recruit their ideal type of customer, so it is quite possible to be refused credit even though your credit history is impeccable.
  • Thrugelmir
    Thrugelmir Posts: 89,546
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    You-kip wrote: »
    Or to the Chief Executive who Pocketed $4000000 last year.

    Going rate for running a large organisation.

    If you don't like the level of remuneration , buy a share and attend the AGM.
  • You-kip
    You-kip Posts: 499 Forumite
    Thrugelmir wrote: »
    Going rate for running a large organisation.

    If you don't like the level of remuneration , buy a share and attend the AGM.

    I didn't say anywhere that I didn't like the Chief Exectutives pay.
  • NPHammer
    NPHammer Posts: 61 Forumite
    Thrugelmir wrote: »
    Besides the level of debt which you already have in relation to your gross annual income. Lenders will now draw a line at 4 existing credit commitments or available facilities.

    What is your source for this? I have never seen this from anywhere credible.

    I personally have just opened a new 0% purchase Credit Card with the headline rate and a large credit limit with more than 4 credit accounts open and ongoing which are logged with the CRA the new lender for the credit card checked.

    Or do you mean 4 lines of credit from one individual lender?
  • You-kip
    You-kip Posts: 499 Forumite
    NPHammer wrote: »
    What is your source for this? I have never seen this from anywhere credible.

    I personally have just opened a new 0% purchase Credit Card with the headline rate and a large credit limit with more than 4 credit accounts open and ongoing which are logged with the CRA the new lender for the credit card checked.

    Or do you mean 4 lines of credit from one individual lender?

    Take no notice of Thrugelmir He/She are clearly making this up as its not true.

    Everyone's circumstances are different.
  • The_Boss
    The_Boss Posts: 5,849
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    For what it's worth, I presently have 8 credit cards.
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