Your credit score

Voo · 22 Feb 2007 at 13:35

Clown said:
Offtopic: What's the point of the Freedom of Information act if you need to pay people to get such information?

Exactly, and data protection.

chippie · 22 Feb 2007 at 13:41

Clown said:
Offtopic: What's the point of the Freedom of Information act if you need to pay people to get such information?

Freedom of Information act has absolutely nothing to do with gaining access to your personal details. That would be the Data Protection Act.

nder the Data Protection Act the company or person you are requesting the informationt hey hold on you are able to charge a fee of up to £10 to cover their costs of reproducing the information.

That is why you can get your credit report from these companied for £2.

Anything else they provide is a service that they are not obliged to provide, and can charge what they like for it. Your credit score for example is an interpretation of the information about you that they hold, so if you want it, you pay for it.

roboffer · 22 Feb 2007 at 13:47

967 on a scale of 0-1000

Click to expand...

Not bad :cool:

Must be all that debt I have!

Dangerous · 22 Feb 2007 at 14:27

Sorry, CreditExpert is temporarily unavailable.
We apologise for any inconvenience. Service will be restored as soon as possible

Burned_Alive · 22 Feb 2007 at 14:33

Rotty said:
just signed up but I have to wait for some stuff to come thorugh post

Yes, its a pin number to verify your address. Otherwise anyone could just request your credit report and you probably wouldnt be too happy about that if people could

roboffer said:
Not bad

Must be all that debt I have!

Did you pay the extra £4.99 to get a score, or was that from equifax?

photoshop · 22 Feb 2007 at 14:34

i've defaulted 3 times in the past. Luckily for me all 3 of those come off in June as they only keep information on your files for 6yrs.

So like come June, my credit report will be brand new. I dont know how that will work as i wount have a credit history.....

I've got gym membership, my mobile from Orange and my cra insurance which i pay by DirectDebit from my account every month. Does these type of payments reflect on your credit score? I've never missed one.

FeFiDoh · 22 Feb 2007 at 14:34

only problem i have with this is i dont have a damn card to use and i seem to have poor credit because i get refused for everything :mad:

Only defaulted on 1 payment and i know of people far worse than me getting things im after!

jamief · 22 Feb 2007 at 14:37

There is actually no such thing as a "Credit Score", its purely a subjective guesstimate based on "average risk factors". You will find that different companies use very different methods for determining your score, so while one company might rate you high risk, another may rate you low risk, purely dependant on how their systems work. Don't read too much into the experian credit score, its a gimmick more than anything.

MasterMike · 22 Feb 2007 at 14:39

jamief said:
There is actually no such thing as a "Credit Score", its purely a subjective guesstimate based on "average risk factors". You will find that different companies use very different methods for determining your score, so while one company might rate you high risk, another may rate you low risk, purely dependant on how their systems work. Don't read too much into the experian credit score, its a gimmick more than anything.

... I'm fairly sure most companies would come to a similar conclusion based on your credit history, however.

jamief · 22 Feb 2007 at 14:41

You'd be surprised. Some take your credit report at almost face value - no defaults / late payments means no problem. Other companies use very sophisticated methods, where your credit report plays only a small part, and things like your age, sex, marital status, kind of employment and type of credit desired are much more important. So, for example, say you have a good credit score, and are an 18 year old male; if statistics show that 18 year old males tend to not pay back their credit card debts, you will struggle to get one (as an example).

Fireskull · 22 Feb 2007 at 14:47

jamief said:
You'd be surprised. Some take your credit report at almost face value - no defaults / late payments means no problem. Other companies use very sophisticated methods, where your credit report plays only a small part, and things like your age, sex, marital status, kind of employment and type of credit desired are much more important. So, for example, say you have a good credit score, and are an 18 year old male; if statistics show that 18 year old males tend to not pay back their credit card debts, you will struggle to get one (as an example).

Hmmm, well i tried when i was 18 to get a CC from my bank and was declined because of credit rating, but since then ive got more steady income and havent had any late phone bill payments, which was the only thing i could think of before which i was only late on mabie 2 i think, but will be 20 next month, u think ill have a better chance then lol?

jamief · 22 Feb 2007 at 15:26

To be honest mate, if you can do without a credit card, then don't get one! Im speaking from experience; its far far too easy to rack up debt on it, I know because I've done it!

Fireskull · 22 Feb 2007 at 15:28

jamief said:
To be honest mate, if you can do without a credit card, then don't get one! Im speaking from experience; its far far too easy to rack up debt on it, I know because I've done it!

yea i know i do fine without one now but at the time some purchases wuda been a lot easier with one, ill hold off from getting one untill i really need one if im in trouble, but its always on my mind now that they wudnt give me one

Rotty · 24 Feb 2007 at 18:50

Got my PIN

Your score is: 999 on a scale of 0-1000 :eek:

Yas786 · 24 Feb 2007 at 19:53

Rotty said:
No idea of my score but managed to get an unsecured personal loan of £24,500 at 5.8% APR last year so would think it is ok

More or less the same with me, i just took out a £15k loan at 6.9% apr with HSBC, my bank without any real problems. I know my credit score is good as i keep getting offered loans by various companies.

Dolph · 24 Feb 2007 at 20:02

jamief said:
To be honest mate, if you can do without a credit card, then don't get one! Im speaking from experience; its far far too easy to rack up debt on it, I know because I've done it!

Well, until you come to try and get a mortgage without any credit history, then it seems like a really bad idea...

Nowt wrong with credit cards, they only spend what you tell them to

Cemetery · 24 Feb 2007 at 20:06

Rotty said:
Got my PIN

Your score is: 999 on a scale of 0-1000

Lower the better though eh

PardonTheWait · 24 Feb 2007 at 20:59

Rotty said:
Got my PIN

Your score is: 999 on a scale of 0-1000

That's because they're scared of you and your mob buddies!

philstanbridge · 24 Feb 2007 at 21:45

Thanks for this idea guys! I just registered with Experian online and received a credit score of 999/1000. I was completely surprised at this point so I celebrated by applying for a low interest rate credit card (for balance transfers) AND got accepted. I can now sort out some of my debt!

Yas786 · 24 Feb 2007 at 21:48

Dolph said:
Well, until you come to try and get a mortgage without any credit history, then it seems like a really bad idea...

Nowt wrong with credit cards, they only spend what you tell them to

Indeed, CC's arent bad unless you go crazy with them and then find that you cant pay it back ie pay it in small amounts...takes forever to pay off and the interest is a killer to say the least.

If your careful with a cc then you shouldnt have any problems whatsoever.