![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Having a monthly subscription with one of the credit reference agencies does not adversely affect your credit rating. It also doesnt look like you've been applying for credit everywhere, either
Can anyone advise me on Credit Cards?
- Thread starter Nitrojan
- Start date
Having a monthly subscription with one of the credit reference agencies does not adversely affect your credit rating. It also doesnt look like you've been applying for credit everywhere, either
I just used experian for my credit score as my finances have been poor for years.
Your Experian Credit Score was
877
On December 13, 2010
The risk you present to a lender
Credit scores are designed to help lenders to assess the risk that you will not repay what you owe them, reliably and promptly, by comparing your situation and credit history with databases showing how other people have managed their repayments in the past.
This score suggests you are a moderate risk borrower − most lenders would expect only a small proportion of people in this category to experience serious problems with repaying credit.
Thank you for purchasing your Experian Credit Score!
A score between 721 and 880 puts you into the Fair category and means your credit status is around the national average.
Better than I expected lol
Your Experian Credit Score was
877
On December 13, 2010
The risk you present to a lender
Credit scores are designed to help lenders to assess the risk that you will not repay what you owe them, reliably and promptly, by comparing your situation and credit history with databases showing how other people have managed their repayments in the past.
This score suggests you are a moderate risk borrower − most lenders would expect only a small proportion of people in this category to experience serious problems with repaying credit.
Thank you for purchasing your Experian Credit Score!
A score between 721 and 880 puts you into the Fair category and means your credit status is around the national average.
Better than I expected lol
I think this actually isn't true any more, or at least, has got less severe, but people generally still think it's in effect.
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Went from being a doorman to being a 'first in' last resort collector(until my soul couldn't take it!) and trust me the people who get given the most credit are those that are least likely to EVER pay back the initial sum.
Soldato
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Get one but don't spend more than you can afford to pay off at the end of the month, otherwise you are just paying interest for nothing that couldn't wait until next payday.
Plus sides are it can increase your credit rating, and gives increased protection.
Plus sides are it can increase your credit rating, and gives increased protection.
Not sure how you'd ever have encountered the people who COULD pay the initial sum back in order to make this judgement if you were a collector, as you'd only be sent to collect from those who were not paying it back
[TW]Fox;17995829 said:Never pay the £5.99 to buy the 'Experian Credit Score', its pretty much meaningless to anyone but Experian themselves I think
Oops that 6 quid just dicked my finances over again then Lol
at least it gives me a little insight.
[TW]Fox;17994738 said:I'm still laughing at your implication that if you are not daft enough to rack up a load of debt spending money you dont have then you are unsociable
The reverse certainly doesn't work - I was both daft and unsociable!
Not true - a credit rating is an assessment of the risk you pose to a company whom you are asking for credit. If you miss a payment, that's a risk. If you make a payment - whether it's 5% or 100% - that's 'satisfactory' conduct. A credit report contains no mention of how much interest you've paid - only how many late payments you've had for each account and (usually) the current(ish) balance.
However, once you have a credit card, then your suggestion may come into play. Credit card companies have been known to close the accounts of those who always pay on time. Though the companies concerned may deny it, many claim this is because they're not making enough money.
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[TW]Fox;17995856 said:Not sure how you'd ever have encountered the people who COULD pay the initial sum back in order to make this judgement if you were a collector, as you'd only be sent to collect from those who were not paying it back
I say this because I always have earned a reasonable crust,but have a lower credit rating than the poor s*ds who were living in virtual poverty(some with no earned income...just benefits!) who always seemed to have a better rating (on paper at least)
This is what I beleive to be 100% the case. Certainly my credit file, when viewed, doesn't break down what I've paid beyond just the amount, so you can't tell what the interest is. You can tell if its a promotional rate but not what the promotional rate actually is.
It's rather crafty of them to tempt you with the free report and then charge you to see your score. I've got that t-shirt, but cancelled the free trial on the last day.
Don't think I saw any rates or indications of promotions on mine though. That might be because I didn't have any promotions ongoing at the time (I looked just before signing up for a new card).
Don't think I saw any rates or indications of promotions on mine though. That might be because I didn't have any promotions ongoing at the time (I looked just before signing up for a new card).
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I say this because I always have earned a reasonable crust,but have a lower credit rating than the poor s*ds who were living in virtual poverty(some with no earned income...just benefits!) who always seemed to have a better rating (on paper at least)
You mean they've applied for more credit with more dodgy lenders. Having a bad rating doesnt stop people lending to you - it just means the ones that will lend to you charge you a complete fortune for doing so.
It's rather crafty of them to tempt you with the free report and then charge you to see your score. I've got that t-shirt, but cancelled the free trial on the last day.
The score itself is meaningless, it's just an indication and it is indeed crafty. It means nothing and nobody has an actual 'score'. Just a pool of information from which lenders can score you themselves
[TW]Fox;17995882 said:I take it you've signed up for the free trial to view your report?
Dont forget to cancel it or you'll keep paying 6 quid or whatever each month, been there got the tshirt
I did that too, forgot to cancel, paid it for a few months, phoned up to cancel and the guy on the phone was quality lol, he phoned me back then had a full blown 30 minute conversation about my financial situation and how best to improve it..
I was pleased with all the stuff he said and since I liked being able to monitor my situation online I said "tell ya what mate, Ill keep it running another month or so while i work something out"... then not got around to phoning back.
think ill cancel tomorrow now Ive got my info! lol
[TW]Fox;17995900 said:The score itself is meaningless, it's just an indication and it is indeed crafty. It means nothing and nobody has an actual 'score'. Just a pool of information from which lenders can score you themselves
Still gets you hooked in to seeing that '999' (which is what I got). Don't mind - the Quidco I got by signing up offset the cost so I'm still not out of pocket.
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[TW]Fox;17995897 said:
A suprising number started with good income and borrowed from reputable lenders,they just didn' realise that when they hit trouble and lowered payments they would be passed down to dodgier and dodgier lenders!....mostly because they believed that doing the right thing and not giving up/declaring themselves insolvent was the 'moral' thing to do.The only people that you truly 'owe' to nowadays is your family,if you find it a struggle get advice(sorry to deviate but seeing what I saw with naive but basically decent people,affected me) and make sure the money goes to them(your family) first.
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Nah I was only talking about the "more credit searches = bad for your rating" part
Associate
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Nah I was only talking about the "more credit searches = bad for your rating" part
Accepted ,could be it's only the lazier lower down lenders that don't have resources/can't be a***d to look into the report in more detail to see who the searches came from.