Credit card and rating?

MHOWARD_2 · 2 March 2017 at 11:21PM

Dobbibill wrote: »

Have you applied for access to Noddle since getting your Experian report?

Depending on how many accounts you have reporting will depend on how much data they have to work with - not all creditors will report to all 3, it may just be that your particular accounts don't report to Call Credit.

Hi, I have received a reply from experian. Basically JD Williams are saying I should contact them with proof of address going back to when they think I was somewhere else. I really don't think I should have to do this considering I have never had any dealings with them. Not to mention that I have been on the electoral roll for seven years at my current address, but they think I was somewhere else four years ago. Any ideas, or should I just send them the information?
Thanks

Dobbibill · 3 March 2017 at 7:35AM

If you have ever had a JD Williams account then you need to contact them - get the details updated - this is causing all manner of problems for you.

If you haven't tell Experian.

JD Williams will not voluntarily alter the information if you don't contact them - it's not impacting them so do all you can to get it sorted.

Ben8282 · 3 March 2017 at 7:57AM

It is generally recommended not to use more than 30% of your available credit.
However, you have only got a £200 credit limit.
You need to balance the idea of not using too much of the available credit against actually being able to use the card for anything!
The advice to set up a direct debit to pay in full is a very good one. However, if you want to use the card a lot then you may prefer to make a manual payment shortly after the statement is issued to free up the credit limit for use in the next month.

With regard to the reasons given by Barclaycard for the refusal I believe this may have been a general statement of the possible reasons why an application could have been declined and a suggestion to check your credit files, rather than a statement of the actual reasons why your application was declined.

This address problem with Experian confuses me. I am unclear if the electoral roll entry for the period is wrong of it it is the specific account with J D Williams which is showing an incorrect address. Do you recognise this account? Is it yours? If not, inform Experian that the account is not yours and request it's removal. Don't attempt to change somebody else's address on somebody else's account! If the account is yours, then why do they have this address? Where are your statements being sent to? If online account. what address is shown for you? An Experian report will NOT show the address history of a specific account. If you are saying an individual account is listed at a specific address for a period in the past which is now changed to your current address, then you are somehow mistaken and misreading something. If this address is showing as a previous address, in what way? Does it directly contradict the electoral roll info?

MHOWARD_2 · 3 March 2017 at 9:51AM

Ben8282 wrote: »

It is generally recommended not to use more than 30% of your available credit.
However, you have only got a £200 credit limit.
You need to balance the idea of not using too much of the available credit against actually being able to use the card for anything!
The advice to set up a direct debit to pay in full is a very good one. However, if you want to use the card a lot then you may prefer to make a manual payment shortly after the statement is issued to free up the credit limit for use in the next month.

With regard to the reasons given by Barclaycard for the refusal I believe this may have been a general statement of the possible reasons why an application could have been declined and a suggestion to check your credit files, rather than a statement of the actual reasons why your application was declined.

This address problem with Experian confuses me. I am unclear if the electoral roll entry for the period is wrong of it it is the specific account with J D Williams which is showing an incorrect address. Do you recognise this account? Is it yours? If not, inform Experian that the account is not yours and request it's removal. Don't attempt to change somebody else's address on somebody else's account! If the account is yours, then why do they have this address? Where are your statements being sent to? If online account. what address is shown for you? An Experian report will NOT show the address history of a specific account. If you are saying an individual account is listed at a specific address for a period in the past which is now changed to your current address, then you are somehow mistaken and misreading something. If this address is showing as a previous address, in what way? Does it directly contradict the electoral roll info?

Dobbibill wrote: »

If you have ever had a JD Williams account then you need to contact them - get the details updated - this is causing all manner of problems for you.

If you haven't tell Experian.

JD Williams will not voluntarily alter the information if you don't contact them - it's not impacting them so do all you can to get it sorted.

I have never had an account with JD Williams. I was contacted about 4/5 years ago by a debt collection company saying they were working on behalf of JDWilliams to retrieve a debt for an address in Croydon. I live approximately ten miles from this address. I explained to the debt collector that I had no idea about it, have never lived in Croydon and have been constant at my current address and that I certainly don't have two residences. He said it must have been a mistrace and would return it to JDWilliams. Another company started harassing me a few months later until I ran them and got a bit angry.
Even though there is this linked address, there is no mention of any account or debt for me. So I'm not sure how it can do me much damage. I also don't see why I should really have to contact a company who I have never had any dealings with.
But if I must then I suppose that's what I will have to do.

Rothstein · 3 March 2017 at 4:01PM

Clearing it in full will not get your limit raised as fast !!, pay before the report date but leave a small balance, they want to make a little profit from you !

Dobbibill · 3 March 2017 at 7:06PM

Rothstein wrote: »

Clearing it in full will not get your limit raised as fast !!, pay before the report date but leave a small balance, they want to make a little profit from you !

Why would you pay any company you don't need to?

They may want to make a profit but that doesn't mean you have to help them on their way. I've never heard Martin :money: recommend that you don't pay it off in full and pay interest instead :think:

Dobbibill · 3 March 2017 at 7:14PM

MHOWARD wrote: »

I have never had an account with JD Williams.

Even though there is this linked address, there is no mention of any account or debt for me. So I'm not sure how it can do me much damage. I also don't see why I should really have to contact a company who I have never had any dealings with.
But if I must then I suppose that's what I will have to do.

Did you tell the CRAs you don't or have never had an account with JD Williams?

What do you mean a linked address? Has any other company listed you as being at the address JD Williams claims you were? Or do you mean just with JD Williams?

If the only address link is JD Williams and you've never had an account with them, the CRAs should be able to dispute it for you.

The other option is if it's 4 - 5 yrs old then the information should drop off at the 6yr mark.

Let us know what you decide to do though so it will help others with the same dilemma

Chappaz · 3 March 2017 at 8:05PM

Dobbibill wrote: »

Why would you pay any company you don't need to?

They may want to make a profit but that doesn't mean you have to help them on their way. I've never heard Martin :money: recommend that you don't pay it off in full and pay interest instead :think:

I have actually seen an article about this on MSE somewhere I'm sure.

Technically though this can be a good idea. After all, credit file checks are not just about assessing risk. They're also about assessing whether the applicant would be a good fit as a customer.

One of the ways credit card companies make money is by charging interest, so if they check an applicants file and they've only ever paid cards off in full without spending a penny on interest, they may be more likely to reject the applicant even if the risk side comes back okay.

After all, why would they want a customer like that? They'd be exposing themselves to risk, and potentially giving out rewards (such as cashback) for no or very little profit. It's just not worth it for them.

However, it really depends on what sort of credit someone wants to apply for in future. For fixed debt like loans or mortgages, where profit on interest is guaranteed if the borrower meets their payment obligations, they're going to care a lot less about that and a lot more about whether all payments are made on time.

But in some cases, it may be beneficial to show lenders checking that you're "profitable" sometimes. It does nothing in regards to risk, but makes your customer profile a little more appealing to certain lenders.

I would even go as far as to say that some credit card companies (especially when applicants apply for cards with a lot of rewards) may have their algorithms set up to automatically reject those who have a history of spending very little and always paying off in full, regardless of what the rest of the file says.

If I owned a credit card company, I know I would. Wouldn't you?

Rothstein · 3 March 2017 at 8:07PM

Finally someone with a brain......!!!!

Rothstein · 3 March 2017 at 8:17PM

Regarding limit increases, the fastest route to LARGER increases is , as an example....

Your limit is 1200, run it up to £1100 ish, pay off £800 in one lump before statement date

Repeat

From experience, your limit will easily go up to £2500 as an example

Only utilising 20/30% of your card, I.e running it up to £300 and paying in full, will result in an increase of probably £400 maximum, because you are not using up to your limit , not making them money, so why would you need more ?

Tried it all different ways, over 20 years, the first way works fastest and gets the bigger increases !

Credit card and rating?

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