My credit rating must be improving... but its still **** :(

Just to add that the credit rating really does vary wildly from place to place. I got turned down by whoever apple uses for a few hundred quid but successfully received a mortgage offer from my bank.
 
kiwi said:
Just to add that the credit rating really does vary wildly from place to place. I got turned down by whoever apple uses for a few hundred quid but successfully received a mortgage offer from my bank.
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True. Not all companies use the same credit rating agency to check your creditability, a few times I have been accepted from a few different companies but refused elsewhere.
 
Not all banks inform the credit agencies you exist.
If your account is over ten years old, it might not even be listed.
Ask your bank, and fill innthe form if it will benefit you.
 
It might not be just your credit rating mate.
I had a loan offer from BArclays just before christmas, then they called me recently offering again, the interest rate had doubled lol.
 
Remember that Noddle and Experian have no record of how much you earn so their credit rating figure is fictitious really since no one could judge your credit worthiness without knowing your income.
 
Noddle, Experian and Equifax are all useful in that you can find out about old defaults, bad scoring from late payments, etc...once you know about them you can go about fixing them.

Just don't get caught up with the actual score itself, it's a meaningless number.

IE:

My girlfriend works 40 hours per week, has held a full time job for 5 years, isn't more than £1k in debt and clears just under 20k a year, her "credit score" is 500'ish

My mum is chronically sick and unemployed, on benefits, has had defaults for the last 5/6 years, has just cleared her debts and has a single payment of £50 left, her "credit score" is over 950.
 
Yeah its only useful for finding out about defaults and late payments.

The numbers are just made up:

I took home 6k this year and I'm a full time student working part time. Never missed a rent payment: Score in the high 700's
 
bum said:
I've just checked myself, it's 4/5.

Never took a loan out (except student loan) nor had a credit card. Was expecting 5/5:o
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Banks make their money off people carrying debt and slowly repaying it with interest. Someone who stays out of debt isn't as attractive a customer as someone who manages it.
 
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