Applying for credit card...starting new job on Monday

robfosters · 8 Jan 2017 at 23:50

platinum87 said:
When i did all of this, there were none of these credit score websites there are now, there is a "file" of sorts, but the way they say, it is too literal.

Keep in mind there are algorithms running, and they have databases, your credit file is in itself a concept of searches of various databases, and it is just pointless to think about.

Yes the websites weren't around but the companies and the credit files still existed.

I am not an overly clever man, I'll admit that and I have to say, your final sentence has me beaten again as to what you are actually trying to say.

platinum87 · 8 Jan 2017 at 23:59

^^ You have to think about things like philosophy, and avoid all possible conversations with Germans.

BDEE · 9 Jan 2017 at 00:08

My head just imploded with the amount of utter BS which I have just read since my last post. I can't even begin to even bother thinking about picking it apart.

In short, anyone coming across this thread, please treat anything posted by platinum87 as nonsense, as that is what it is in the main.

I have to say that "google records the searches" resulted in exceptional lols.

I'm going to bed before I end up being drawn in.

Zefan · 9 Jan 2017 at 00:38

BDEE said:
I have to say that "google records the searches" resulted in exceptional lols.

robfosters · 9 Jan 2017 at 00:51

BDEE said:
My head just imploded with the amount of utter BS which I have just read since my last post. I can't even begin to even bother thinking about picking it apart.

In short, anyone coming across this thread, please treat anything posted by platinum87 as nonsense, as that is what it is in the main.

I have to say that "google records the searches" resulted in exceptional lols.

I'm going to bed before I end up being drawn in.

Not me, I was the only one talking sense in here.

Broken Hope · 9 Jan 2017 at 09:04

robfosters said:
Not me, I was the only one talking sense in here.

If by signed up to Credit Expert you mean paying £15 a month then I don't think you can be considered making sense, why pay £360 for something you can get for free?

HoneyBadger · 9 Jan 2017 at 09:06

platinum87 said:
I don't know where you find this magical credit file, but i can tell you, that there are just databases, and updates to them are instant

I can assure, they are not. When I have settled loans/credit cards and checked my credit report online (Via multiple agencies) it's taken 3~4 months to update. Typically data gets sent to agencies every quarter.

This is what I've been told by banks/building societies and this matches my own experience.

Ace Modder · 9 Jan 2017 at 09:24

HoneyBadger said:
I can assure, they are not. When I have settled loans/credit cards and checked my credit report online (Via multiple agencies) it's taken 3~4 months to update. Typically data gets sent to agencies every quarter.

This is what I've been told by banks/building societies and this matches my own experience.

Yes, it is not instant. It depends on the credit lender for updates.

robfosters · 9 Jan 2017 at 10:12

Broken Hope said:
If by signed up to Credit Expert you mean paying £15 a month then I don't think you can be considered making sense, why pay £360 for something you can get for free?

If you're talking about Noddle, that is rubbish compared to credit expert and frequently misses things out. It's worth it to me while rebuilding my credit record. Once I'm back where I want to be, I'll stop subscribing.

Jamesyboyjim · 9 Jan 2017 at 11:58

Changes to my credit report never show up for a few months. For example, I settled a loan early, it sat on my next few monthly credit reports before saying it was settled.

HoneyBadger · 9 Jan 2017 at 12:20

robfosters said:
If you're talking about Noddle, that is rubbish compared to credit expert and frequently misses things out. It's worth it to me while rebuilding my credit record. Once I'm back where I want to be, I'll stop subscribing.

Credit Expert is now free.

Jamesyboyjim said:
Changes to my credit report never show up for a few months. For example, I settled a loan early, it sat on my next few monthly credit reports before saying it was settled.

Yup, which is what I was saying above. It most certainly is NOT instant by any means.

rIcK · 9 Jan 2017 at 13:51

I have applied for mortgages knowing I won't be in that job for much longer or have already handed in my notice. Assuming you are walking right into another job it doesn't really matter.

As mentioned above just stick in your old job details.

BDEE · 9 Jan 2017 at 22:17

robfosters said:
Not me, I was the only one talking sense in here.

You were indeed, Sir. Forgive me if I gave the impression it was anything you had said

BDEE · 9 Jan 2017 at 22:18

rIcK said:
I have applied for mortgages knowing I won't be in that job for much longer or have already handed in my notice. Assuming you are walking right into another job it doesn't really matter.

As mentioned above just stick in your old job details.

This is also really bad advice when it comes to mortgage applications. It is of course very different to a credit card application. ANY change in circumstance like that must be revealed to the mortgage lender on application. To not do so is fraudulent.

rIcK · 10 Jan 2017 at 01:24

BDEE said:
This is also really bad advice when it comes to mortgage applications. It is of course very different to a credit card application. ANY change in circumstance like that must be revealed to the mortgage lender on application. To not do so is fraudulent.

But if it has yet to happen, ie you only have an intent to do so but not actually done it yet. Does it matter?

In my most recent case for example I was in the process of job hunting whilst re-mortgaging my property, I think I completed then a day or two later handed in my notice to start with the next company. None of the information provided was wrong.

BDEE · 10 Jan 2017 at 20:40

rIcK said:
But if it has yet to happen, ie you only have an intent to do so but not actually done it yet. Does it matter?

In my most recent case for example I was in the process of job hunting whilst re-mortgaging my property, I think I completed then a day or two later handed in my notice to start with the next company. None of the information provided was wrong.

That would be different yes, as it may not happen.

If it is something which IS happening, then it must be declared. So if you have already handed in your notice and then apply for a mortgage, that must be declared to the mortgage lender even if you already have a mortgage offer on which you have yet to complete.

It might not be a difference in your eyes if you then did it the day after completion, but for the mortgage lender it is a big deal.