Experian and ClearScore credit scores

[Steedie]

Hi guys,

Ever since applying for my mortgage last year and having to get my credit score from Experian, I've found it almost like a game to get it up each month. I've managed to improve it quite a bit thanks to using the service. Then ClearScore came out so I ditched the then monthly fee Experian and noticed that their scoring system rates me a lot lower than Experian.

On Experian, I'm 990 which I thought was pretty good yet ClearScore have me at 430 out of 700 which seems pretty low in comparison (weirdly enough they say I have no negative markers so not sure why so low)

Anyone else using both services or have gone from one to the other finding the same? Should I pay more attention to Experian? I know that credit scores and how companies use them vary depending on what you're applying for and the lender, but I've always been led to believe that Experian are pretty reliable to use to know where you stand

Thanks

 

[Jamesyboyjim]

I use both and often wondered why clear score has me at 419 out of 700 yet Experian rates me at 996 out of 1000. Both claim to be good scores though. When my mate applied for his mortgage last year his lender (Halifax) looked at Experian.

I'm looking to buy this year too (hopefully) so I'd rather any potential lenders use Experian too.

 

[Thekwango]

just signed up myself and getting the same thing - clearscore showing ~446 out of 700 but my Experian is high 900's the last time I looked

 

[terley]

I paid off a £13,000 5 year finance deal on a car i bought.. didn't improve my credit rating at all.. ******* sucked.

 

[dirtychinchilla]

Experian is giving me 999! Clearscore gives me about 558/700.

Weird!

 

[Steedie]

Ah ok, well seems to be normal which is a relief. Wonder why the difference in scores

Also good job chinchilla! 999

 

[Glanza]

I paid off a £13,000 5 year finance deal on a car i bought.. didn't improve my credit rating at all.. ******* sucked.

Longer term borrowing seems to improve your score rather than lowering it, Paying it off sometimes makes the score drop instead of increasing it like you'd imagine.

 

[Noxia]

I really ruined my score by switching banks so many times to get the switch deals. I did this knowing I won't be applying for any kind of credit though in the near future. Annoyingly, my car is a HP agreement and if you didn't click into the details it would just show I owe 30k. Clicking in shows a HP/Balloon agreement and how much I pay monthly but looking at a header level as many of hte automated things do doesn't really work.

 

[kaktus]

Last time I checked, Experian had me at 990. Clearscore started me off at 378 then it slowly climbed up over the course of a year to 478. Bizarre in that I have no negatives, a 20k credit card limit and average utilisation of about 1k a month and no other credit/liabilities and no applications for credit since 2014 (when I get the credit card).

Noddle on the other has me at 660

It's all a load of faff tbh and I only use the services to check identity fraud

 

[Beasty]

My clearscore is far lower too, 450ish. I was 999 with Experian until recently, just got a mortgage so figures, still well above 900 though. With a barclaycard you get access to your Experian score, you don't get the in depth spiel but you can keep an eye on it.

 

[BDEE]

These "scores" are meaningless. It is their own interpretation of your credit file and they use it as a way of providing an indication of their opinion. It is not visible to lenders, who have their own assessment criteria for credit scoring based on the information held on your files.

No one has a "credit score". Essentially, the numbers given to you by the agencies are totally worthless

 

[Rilot]

I don't understand this either. When I applied for my mortgage last year I was at 997 on Experian (damn, where are those 2 points?) but 400 ish on Clearscore.

 

[Rifte]

Experian = 999
Clearscore = 564

I am a fully paid up member of Experian and TBH with my circumstances it helps.

My details got intercepted a number of years ago and at least once a year someone, somewhere tries to open a credit account in my name. I am with CIFAS etc but the benefit of Experian is that they text and email me when someone searches my credit file, it tells me who searched it and what for. I can usually with a phone call or two sort the issue quickly.

I did have an issue with Barclays recently (couldn't get the searches off my file) but they sorted it after 4 months and gave me a cheque for £150 to say sorry for taking so long.

 

[413x]

I really ruined my score by switching banks so many times to get the switch deals. I did this knowing I won't be applying for any kind of credit though in the near future. Annoyingly, my car is a HP agreement and if you didn't click into the details it would just show I owe 30k. Clicking in shows a HP/Balloon agreement and how much I pay monthly but looking at a header level as many of hte automated things do doesn't really work.

Hurt mine a bit too doing this and having a few house moves.
Not too bad, but year ago I was 970 now 870 (excellent to fair)

It's interesting isn't it that moving house and bank hurts so much. Even if you are financially sound

 

[413x]

These "scores" are meaningless. It is their own interpretation of your credit file and they use it as a way of providing an indication of their opinion. It is not visible to lenders, who have their own assessment criteria for credit scoring based on the information held on your files.

No one has a "credit score". Essentially, the numbers given to you by the agencies are totally worthless

Not quite useless, but definitely not absolute!

I expect clear score score you lower for an ulterior motive. Be it advertising or whatever.
But yeah, they are just that agencies particular weightings on aspects of your actual report

When I was at 970 I moved into a house with a payg electricity meter. And I couldn't get it changed because of a credit check. Why.. Moved house, old account not registered as closed. Only way found this out was by ordering a copy of actual report. Here it showed it was not closed

 

[Deleted member 66701]

These "scores" are meaningless. It is their own interpretation of your credit file and they use it as a way of providing an indication of their opinion. It is not visible to lenders, who have their own assessment criteria for credit scoring based on the information held on your files.

No one has a "credit score". Essentially, the numbers given to you by the agencies are totally worthless

Listen to this man.

Credit agencies make a score up so they can sell you services.

 

[413x]

I personally don't agree with our model.
That for profit organisations have so much power of people's lives and advertise using what is probably some of the most valuable personal info held on you

 

[BDEE]

Not quite useless, but definitely not absolute!

I expect clear score score you lower for an ulterior motive. Be it advertising or whatever.
But yeah, they are just that agencies particular weightings on aspects of your actual report

When I was at 970 I moved into a house with a payg electricity meter. And I couldn't get it changed because of a credit check. Why.. Moved house, old account not registered as closed. Only way found this out was by ordering a copy of actual report. Here it showed it was not closed

No, they really are useless .

The number of times I hear "But my score with Experian is 999" from people who complain about declined lending applications. What's even funnier is how some of these people have a "score" of 999 despite having defaulted accounts. They really are meaningless.

 

[Superficial]

Listen to this man.

Credit agencies make a score up so they can sell you services.

Indeed.

they do serve a small purpose though - that is to guide you in the right direction so you can see the kinds of things that help and hurt.

I'd also urge posters not to be so quick to give out their scores online...just my opinion.

I noticed that my score went down slightly because I opened two new accounts - I do have over 10 current accounts now of which only two are used so it may be a good idea to close them.

 

[Diddums]

Those scores aren't worth the paper they're written on.