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  • FIRST POST
    • jonjon123
    • By jonjon123 15th Apr 18, 11:27 AM
    • 36Posts
    • 1Thanks
    jonjon123
    Why is my credit score so bad, yet doing nothing wrong?
    • #1
    • 15th Apr 18, 11:27 AM
    Why is my credit score so bad, yet doing nothing wrong? 15th Apr 18 at 11:27 AM
    Hi all, cannot understand what's going on, so hoping someone can point me in the right direction and answer why my score is the way it is?

    I have looked at all 3 of my reports in detail, Equifax, Experian and Callcredit and everything on my report shows as good. Everything shows as ''up to date'' and there is nothing in arrears/late or in default.

    Looking also on clearscore it tells me I am doing 8 things well and 0 things are showing to improve, so I must be doing something right, so why is my score only a 325 out of 700?

    I can't understand it?

    The average score in my area is 446 and the UK average is showing as 380, but I'm not even getting that, so what on earth am I doing wrong?

    If anyone could please assist, I will look forward to your replies.

    Many thanks.
Page 1
    • cjmillsnun
    • By cjmillsnun 15th Apr 18, 12:00 PM
    • 597 Posts
    • 731 Thanks
    cjmillsnun
    • #2
    • 15th Apr 18, 12:00 PM
    • #2
    • 15th Apr 18, 12:00 PM
    Because the score is a load of rubbish. Lenders don!!!8217;t use it. They look at your report.

    They can!!!8217;t see the score.
    2.88 kWp System, SE Facing, 30 Degree Pitch, 12 x 240W Conergy Panels, Samil Solar River Inverter, Havant, Hampshire. Installed July 2012, acquired by me on purchase of house in August 2017
    • DCFC79
    • By DCFC79 15th Apr 18, 12:27 PM
    • 31,452 Posts
    • 19,859 Thanks
    DCFC79
    • #3
    • 15th Apr 18, 12:27 PM
    • #3
    • 15th Apr 18, 12:27 PM
    Hi all, cannot understand what's going on, so hoping someone can point me in the right direction and answer why my score is the way it is?

    I have looked at all 3 of my reports in detail, Equifax, Experian and Callcredit and everything on my report shows as good. Everything shows as ''up to date'' and there is nothing in arrears/late or in default.

    Looking also on clearscore it tells me I am doing 8 things well and 0 things are showing to improve, so I must be doing something right, so why is my score only a 325 out of 700?

    I can't understand it?

    The average score in my area is 446 and the UK average is showing as 380, but I'm not even getting that, so what on earth am I doing wrong?

    If anyone could please assist, I will look forward to your replies.

    Many thanks.
    Originally posted by jonjon123
    Dont get too hung up on your score, what is your score from the other 2 agencies ?
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • datlex
    • By datlex 15th Apr 18, 12:39 PM
    • 1,598 Posts
    • 1,490 Thanks
    datlex
    • #4
    • 15th Apr 18, 12:39 PM
    • #4
    • 15th Apr 18, 12:39 PM
    Credit scoring is a mystery. For example if you open a second bank account for budgeting/ rewards your credit score goes down even though you have no addition debt.
    • RG2015
    • By RG2015 15th Apr 18, 12:56 PM
    • 1,126 Posts
    • 675 Thanks
    RG2015
    • #5
    • 15th Apr 18, 12:56 PM
    • #5
    • 15th Apr 18, 12:56 PM
    Hi jonjon123,

    Have you paid any money for your credit reports? All three credit reporting agencies offer a premium service with a monthly subscription fee. However, they are all available free of charge as follows:

    Experian via MSE Credit Club
    Equifax via Clearscore
    Callcredit via Noddle.

    The reason I ask is because you say you have also got your score from Clearscore implying that you have already got it from Equifax.

    Part of the mystery behind credit scores is that the three CRAs are enticing you in to the mystery to get money from subscribers every month,

    As regards your eligibility for obtaining credit you need to manage you credit history by demonstrating that you manage credit well over a period of time.
    • jonjon123
    • By jonjon123 15th Apr 18, 5:18 PM
    • 36 Posts
    • 1 Thanks
    jonjon123
    • #6
    • 15th Apr 18, 5:18 PM
    • #6
    • 15th Apr 18, 5:18 PM
    Dont get too hung up on your score, what is your score from the other 2 agencies ?
    Originally posted by DCFC79
    My score with experian is 793 of out 999 and that shows in the ''fair'' mark

    But then after fair, comes good and excellent so don't know where you have to be to get this as 850 out of 999 sounds good to me?
    Last edited by jonjon123; 15-04-2018 at 5:21 PM.
    • jonjon123
    • By jonjon123 15th Apr 18, 5:20 PM
    • 36 Posts
    • 1 Thanks
    jonjon123
    • #7
    • 15th Apr 18, 5:20 PM
    • #7
    • 15th Apr 18, 5:20 PM
    Hi jonjon123,

    Have you paid any money for your credit reports? All three credit reporting agencies offer a premium service with a monthly subscription fee. However, they are all available free of charge as follows:

    Experian via MSE Credit Club
    Equifax via Clearscore
    Callcredit via Noddle.

    The reason I ask is because you say you have also got your score from Clearscore implying that you have already got it from Equifax.

    Part of the mystery behind credit scores is that the three CRAs are enticing you in to the mystery to get money from subscribers every month,

    As regards your eligibility for obtaining credit you need to manage you credit history by demonstrating that you manage credit well over a period of time.
    Originally posted by RG2015
    No, i havent paid any money, i have used the 3 links as you listed above in the past already.
    • DCFC79
    • By DCFC79 15th Apr 18, 5:22 PM
    • 31,452 Posts
    • 19,859 Thanks
    DCFC79
    • #8
    • 15th Apr 18, 5:22 PM
    • #8
    • 15th Apr 18, 5:22 PM
    My score with experian is roughly 850 of out 999 and that shows in the ''fair'' mark

    But then after fair, comes good and excellent so don't know where you have to be to get this as 850 out of 999 sounds good to me?
    Originally posted by jonjon123
    Your score is neither here or there since no 1 but you can see it.

    As long as the data is correct on your file then its all ok.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • jonjon123
    • By jonjon123 15th Apr 18, 5:26 PM
    • 36 Posts
    • 1 Thanks
    jonjon123
    • #9
    • 15th Apr 18, 5:26 PM
    • #9
    • 15th Apr 18, 5:26 PM
    Your score is neither here or there since no 1 but you can see it.

    As long as the data is correct on your file then its all ok.
    Originally posted by DCFC79
    So the fact that everything with all 3 CFA's are all showing as ''up to date'' then are you advising to ignore the score bit, because looking at the score itself it looks dreadful, when compared to the report itself?
    • RG2015
    • By RG2015 15th Apr 18, 5:26 PM
    • 1,126 Posts
    • 675 Thanks
    RG2015
    No, i havent paid any money, i have used the 3 links as you listed above in the past already.
    Originally posted by jonjon123
    Good to know.

    Apart from the credit score issue, the CRAs all have very good advice for things that lenders may look at. You mentioned Clearscore positive and negative points but Noddle and MSE Credit Club also have these. I also find the MSE Credit Club eligibility checker very useful as well.
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