Experian Credit Score

dave1983

dave1983

dave1983

Soldato
Joined
9 Dec 2009
Posts
3,026
Location
Andover
Hey guys

I currently receive all 3 credit agency scores.

I just applied for a loan to see whether i would be accepted, this was actually with my own building society who use experian, it came back declined, however checking my score online it's 662 with experian is that good or bad.

i beleive the scoring is as follows

400-590 = Low
600-700 = Good
700 -900 = Excelent

it was a quoation more than anything just to see whether i would accepted, luckly it doesn't affect my score in anyway unless i make multiple applications.
 
Your score is good as it's between 600 and 700. However, the score is a bit of a general estimate based on your credit report excluding other important factors that lenders will look at, such as income. I have a 999 Experian score, but this doesn't automatically guarantee that I'll get accepted for a £25,000 loan. It's just an indication.
 
yeah i think it's also because iv'e not been getting credit, like everyone i went through a bad moment between 2005- 2007 with credit cards and loans which has put a dent in my score, now im almost clean no store cards, credit cards, but i see from a bank point of view that with no credit cards im not showing that im reliable with credit.
 
You're also showing up a history with bad debt.

Credit score, in reality means very little. Lenders will check a whole host of other factors not just the numbers on your credit score.
 
anticonscience said:
You're also showing up a history with bad debt.

Credit score, in reality means very little. Lenders will check a whole host of other factors not just the numbers on your credit score.
Click to expand...

This really... Important things to look at are previous missed payments and defaults etc. A default/ccj will stay on their for six years.
 
i have no defaults or CCJ , just stupid missed payments over 3 years ago.

i guess different companies use different criteria's

if i was going to try and get a car on finance from a dealer, would the same rule apply or would they be a lot more relaxed, i.e. missed payment = repossesion of car.
 
I'm afraid it's likely to be the missed payments - or if you have had a lot of credit that goes against you too. Nothing you can do really, as applying for more loans will result in more declines. I think you have to wait up to 6 years from the date of the missed payments before they are automatically removed.
 
Luckly this is the first loan iv'e applied for in the last year, and nationwide confirmed that it wouldn't affect my score as i didn't meet their criteria.
 
philstanbridge said:
That's helpful, I didn't realise you could do this.
Click to expand...

yeah i might give that a go, cause most of the payments are to loans which have been settled, and long gone. 6 years is abit harsh though, and everyone in some point of their lives go through impulse buying and spending way above what they can afford
 
OT but related question: Are credit checks and credit information tied to an address?

Just wondering as my recent phone contract failed the check due to them messing up the postal address, and all my current history is tied to parents house. Is there any issues when moving house with these kind of checks?
 
tntcoder said:
OT but related question: Are credit checks and credit information tied to an address?

Just wondering as my recent phone contract failed the check due to them messing up the postal address, and all my current history is tied to parents house. Is there any issues when moving house with these kind of checks?
Click to expand...
Any adverse credit history on an address (yours or otherwise) can affect the credit score you get when you apply for credit.
 
What does your score start on? How do they work it out?

I currently don't have any loans, overdraft's or anything on credit. Never had.

I've had a contract mobile phone though for the last 5 years or so. Paid every bill on time.

I do remember getting rejected for a simple credit card a couple of years ago due to my score which I couldn't understand. The plan was to use the credit card in emergencies. Ended up not needing at the time but I could do with one now for the same reason.
 
Having no credit is really bad for credit ratings.

"How do I get credit rating in the first place then?"

Get a credit card as soon as possible and build one up.
 
as an aside to the OP - its kinda related.

how can you reverse bad credit if you have a reason?

i.e. you spend a long time in hospital and cannot physically go to the bank and lots of stuff goes unpaid but is then paid off.:confused:
 
You must log in or register to reply here.
Back
Top Bottom