Credit Rating - Computer Says...

Credit reports are nice and cheap - around £2 from each company and worth getting.
Your credit score costs a little more - I did the rounds a couple of months ago and got the report/score from the three major places just to make sure everything was OK (which I'm pleased to say it was).

It is nice actually knowing your own credit score, however just the reports should show up anything nasty.
 
DB_SamX said:
I don't think searches affect the rating itself, or do they?
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Not directly, but if a company sees you made loads of checks but not taken out any credit, they may assume you couldn't get any previously (due to all the checks).
 
DB_SamX said:
Why not? When getting quotes, all of them do checks. I checked my credit rating after that it it too showed loads of searches. I don't think searches affect the rating itself, or do they?
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When you realise there is no such thing as a global "credit rating", you begin to understand how it works. Most companies use different factors from your credit file to produce their own rating - some companies give higher weighting to things like number of previous searches, which means that lots of searches effectively give you less chance of getting credit with certain companies.
 
Equifax and experien are both very different in my experience....
I recently moved house and couldnt even get a phone line turned on with out paying BT a £50 deposit.

This prompted me to check my score with the above 2 companies, one was fine and in the "green" with a fair/good score, and the other was in the yellow showing me as a risk.

I have no bad debt, indeed no current debt at all.
Indeed this is why I am a risk, because I borrow carefully, and pay my debts on time.

The other factor is my precence on the electoral roll, ive moved every 12 months for the last 3 years....which creditors see as a risk also.

Ive come to the conclusion that I need to take on some debt to boost my score, I dont actually need anything material-wise....any suggestions that I would be able to qualify for credit for? perhaps some kind of store account or somthing? do these kinds of things help your credit rating?
 
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