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Credit score

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By *odareyou OP   Man
over a year ago

not far from iceland,,,,,, tescos is nearer though :-) (near leeds)

Ever check yours ?

I see the adverts suggesting you do , I've never thought I needed to

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By *ingle Beds LassWoman
over a year ago

Bedfordshire

It's always good idea to check as you can spot identity fraud as it has everything credit Suisse you have applied for. Phone, bank account, credit card. Also of you are thinking of applying for mortgage, it helps you make sure you are in the best financial position to apply for one

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By *irkby coupleCouple
over a year ago

Kirkby

It's pointless, most of the banks use there own scoring system.

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By (user no longer on site)
over a year ago

Did once and it was a complete waste of time and money. The report is drivel - full of jargon and bank speak.

I've been rejected for the odd thing here and there but the report doesn't tell you why or what you can do about it.

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By (user no longer on site)
over a year ago

I check mine regularly because my husband got turned down for credit somewhere - a problem with Vodafone had sent his score from practically perfect down to poor. Got it sorted and it was corrected back up, but I like to keep an eye on both of ours now to make sure all the credit accounts are as they should be.

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By (user no longer on site)
over a year ago


"I check mine regularly because my husband got turned down for credit somewhere - a problem with Vodafone had sent his score from practically perfect down to poor. Got it sorted and it was corrected back up, but I like to keep an eye on both of ours now to make sure all the credit accounts are as they should be."

Isn't it supposed to be a weighted average, as in one thing shouldn't overly effect the total?

I have the odd bad thing because I refused to pay for gym memberships I wasn't using etc and it's shown up on a few crappy credit card applications. Never effected the big things though (mortgage / car)

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By (user no longer on site)
over a year ago


"Did once and it was a complete waste of time and money. The report is drivel - full of jargon and bank speak.

I've been rejected for the odd thing here and there but the report doesn't tell you why or what you can do about it. "
.

Bank jargon hey!

Welcome back... Where have you been hiding?

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By (user no longer on site)
over a year ago

The ironic thing is, if you've never been in debt your credit score is shit

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By (user no longer on site)
over a year ago


"The ironic thing is, if you've never been in debt your credit score is shit"
.

Doubly ironic is that you'll probably have more actual money than the person in debt up to their eyeballs who's got a cracking credit score!

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By (user no longer on site)
over a year ago


"I check mine regularly because my husband got turned down for credit somewhere - a problem with Vodafone had sent his score from practically perfect down to poor. Got it sorted and it was corrected back up, but I like to keep an eye on both of ours now to make sure all the credit accounts are as they should be.

Isn't it supposed to be a weighted average, as in one thing shouldn't overly effect the total?

I have the odd bad thing because I refused to pay for gym memberships I wasn't using etc and it's shown up on a few crappy credit card applications. Never effected the big things though (mortgage / car) "

Not if it's a default. This was a cock up where they'd told him a balance was settled and then kept trying to take it every month for a year but he'd cancelled the DD, so it showed as a year old outstanding debt.

The score went down from almost as high as you can get, to poor, purely for that one error. Once it was corrected and taken off the file, it went straight back up.

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By (user no longer on site)
over a year ago


"The ironic thing is, if you've never been in debt your credit score is shit.

Doubly ironic is that you'll probably have more actual money than the person in debt up to their eyeballs who's got a cracking credit score!"

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By (user no longer on site)
over a year ago

I've checked mine a few times just to make sure that my score is indeed so bloody bad still!! Still at least I can't get in much more debt!! My own stupid fault from my marriage and being an absolute idiot with money and now it will take me years to rebuild it all but hey ho just means I have to save for stuff that I want but on the other hand, getting a mobile on a contract is a bugger lol

G x

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By (user no longer on site)
over a year ago


"Did once and it was a complete waste of time and money. The report is drivel - full of jargon and bank speak.

I've been rejected for the odd thing here and there but the report doesn't tell you why or what you can do about it. "

The report won't tell you why your rejected, that would be the lenders decision and criteria nothing to do with the credit bureau.

The report isn't drivel, it can be a bit complex to understand but there are guides out there to help

As others have stated it's very usefully to see if there's been any fraud your unaware of, if there's still active credit cards that you don't use knocking about and also to see if any errors have been made.

Yes it costs a couple of quid, but you don't have to keep it up every month and could only check it annually if you wished, like a yearly Mot for your credit status.

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By (user no longer on site)
over a year ago

It's a useful tool to make sure you're where you think you are if you're looking at doing anything big with your finances.

Also important to understand what's positive and negative to your credit score.

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By (user no longer on site)
over a year ago

I have just started monitoring mine and if I'm honest its helped me improve it greatly. There has been a few things that have affected my score that if I hadn't of checked I would never have known

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By (user no longer on site)
over a year ago

There two different things. Your credit report which there are 3 (2 main ones) companies to check and like others have pointed out these can hold errors that can affect your applications.

Given that anyone taking car or house insurance over a monthly plan, phones and soon utilities will involve credit reports being read by the supplier as well as the typical bank, loan, mortgage, credit card etc then errors can be a problem.

Checking your credit reports costs £2 each and if you've a big application like a mortgage coming up, or an unexpected rejection it could be worthwhile checking them.

Credit scores as the posts originally asked are a big pile of poop where the credit agencies try to charge you for something that means nothing as every lender or supplier use their own scoring system.

More and more companies are starting to log details on the credit report too, like utilities companies saying if you pay on time and I believe council rent payments are about to or have just been another thing added to reports.

There's also the links to others. Their history is considered if you have a joint credit link like a bank account or mortgage and if that's incorrect you can be declined based on their credit history.

Credit reports, getting and correcting if necessary is a great thing. Paying for experian or the like credit score is nothing more than an expensive indicator to then get the same report that only costs £2 in the first place if it may indicate a problem

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By *atnat85Woman
over a year ago

northwest

As an aside......if you get married make sure you get your name updated on your report. In my married name I had a poor score (never defaulted or had credit problems, so I knew it should be higher) but it was because I'd been married for 5 years , there was only 5 years of history attached to my name. This was quickly corrected and now that maiden and married match up I have a good rating again

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By *aramelMINXWoman
over a year ago

West Yorkshire

Check on noddle free.all the time

Defo worth doing ( work in finance)

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By (user no longer on site)
over a year ago


"It's pointless, most of the banks use there own scoring system."

This. Though, that said, I do check mine regularly. Clear score is pretty decent for an overview.

F

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By *aneandpaulCouple
over a year ago

cleveleys

Our Credit score is zero

We were pub managers for 40 year,s never had to pay a bill never had a credit card did not need one.

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By *artytwoCouple
over a year ago

Wolverhampton


"Our Credit score is zero

We were pub managers for 40 year,s never had to pay a bill never had a credit card did not need one."

No idea what our credit score is and couldn't give a shit anyway. Mortgage paid off, cash in the bank, plenty in reserve. Don't do credit.

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

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By *razedcatMan
over a year ago

London / Herts

Credit...something we should have left behind in the 20th Century.

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By *aneandpaulCouple
over a year ago

cleveleys


"Our Credit score is zero

We were pub managers for 40 year,s never had to pay a bill never had a credit card did not need one.

No idea what our credit score is and couldn't give a shit anyway. Mortgage paid off, cash in the bank, plenty in reserve. Don't do credit.yes very true

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

"

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By *aneandpaulCouple
over a year ago

cleveleys


"Our Credit score is zero

We were pub managers for 40 year,s never had to pay a bill never had a credit card did not need one.

No idea what our credit score is and couldn't give a shit anyway. Mortgage paid off, cash in the bank, plenty in reserve. Don't do credit.yes very true

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

"
yes very true

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By (user no longer on site)
over a year ago


"Our Credit score is zero

We were pub managers for 40 year,s never had to pay a bill never had a credit card did not need one.

No idea what our credit score is and couldn't give a shit anyway. Mortgage paid off, cash in the bank, plenty in reserve. Don't do credit.

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

"

Totally agree with that closing line

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By (user no longer on site)
over a year ago


"Don't do credit.

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

"

How do you pay by credit card if you don't do credit?

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By (user no longer on site)
over a year ago


"Don't do credit.

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

How do you pay by credit card if you don't do credit? "

I think they meant to say Debit Card.

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By *aneandpaulCouple
over a year ago

cleveleys


"Don't do credit.

If we want anything we pay cash or credit card which gets settled every month anyway by dd.

There seems to be an assumption that if you're not in debt you don't exist.

How do you pay by credit card if you don't do credit? "
it my sound daft but we are classed as a bad debt never had one so no credit ratting so can not get a credit card turned 60 and retired that does not help

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By (user no longer on site)
over a year ago

never checked mine, never felt the need to, never had a credit card or a loan (besides a mortgage) and never planning too, dont have a problem getting things like mobile phone contracts so im assuming its ok

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By (user no longer on site)
over a year ago

You don't settle a debit card with a direct debit..

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By (user no longer on site)
over a year ago


"Did once and it was a complete waste of time and money. The report is drivel - full of jargon and bank speak.

I've been rejected for the odd thing here and there but the report doesn't tell you why or what you can do about it.

The report won't tell you why your rejected, that would be the lenders decision and criteria nothing to do with the credit bureau.

The report isn't drivel, it can be a bit complex to understand but there are guides out there to help

As others have stated it's very usefully to see if there's been any fraud your unaware of, if there's still active credit cards that you don't use knocking about and also to see if any errors have been made.

Yes it costs a couple of quid, but you don't have to keep it up every month and could only check it annually if you wished, like a yearly Mot for your credit status."

Fair enough, I'll put it on the same list as dental flossing, changing energy supplier and abstaining from alcohol for a month.

That's the list of things that are good to do but I can't actually be arsed with.

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By *artytwoCouple
over a year ago

Wolverhampton


"You don't settle a debit card with a direct debit.."

We're like royalty; don't complain and never explain lol.

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By (user no longer on site)
over a year ago

Checked all 3 according to Equifax and callcredit I don't exist but experian I've a 998. My only issue with the reference agencies is them charging to see your scores you can only do the free month once and that free site noddle is useless again I don't exist according to it.

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By (user no longer on site)
over a year ago


"Ever check yours ?

I see the adverts suggesting you do , I've never thought I needed to

"

Your credit score is checked by many companies such as car insurers & home insurers, they inform you in the small print and it "should not" effect your score.

To achieve a "great" 999 score you should have 4 or 5 credit cards, use each of them each month and ensure you pay off in full before the bill comes out, this does wonders for ensuring a top rating

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By (user no longer on site)
over a year ago

It is also important to bear in mind that any debt, no matter however small, can result in a CCJ which in turn could have massive implications. Clearly you should know if you are being taken to Court but there are the odd instances where people don't get the letters etc.

I checked mine quite recently and cancelled before any fees were incurred. It is useful to know.

Additionally when a friend got into a right mess with debt, the only way I could determine what he owed and not was via his credit score since he had buried his head in the sand.

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By (user no longer on site)
over a year ago


"You don't settle a debit card with a direct debit..

We're like royalty; don't complain and never explain lol."

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