What is your credit score?



James said:
Do you know whether I need to do anything to get things off my credit record if banks have closed down accounts fraudulently opened in my name?

There was 3 of them, plus some failed credit card attempts, they've all been dealt with my the banks. Not sure if I need to request them to be removed or if they'll just disappear in time.
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If they were fraudulently opened, you need to speak/send a letter to the data controller, providing the evidence that they were opened fraudulently. They are legally bound to have the account entries removed from your credit file. They will not show in your current or closed account section once done.
Bukowski said:
Well, that’s a relief. Was speaking to my accountant the other day and he feared the worst. Something about defaults hanging about for 6 years on credit checks?
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That’s correct, if you drop a ball and a default is applied, there is no removing it for 6 years from the date it was applied.

However, when defaults are applied to an individual from a fraud perspective, they are removed pretty quickly.

Incidentally, if you have had a default placed on your file from a fraud perspective, and you get knocked back from a prime mortgage and have to take a sub-prime mortgage at crap interest rates, you can take the company who put the default on your file to the cleaners and request in court that they pay you compensation that covers the difference in interest rates.
 
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No7 said:
If they were fraudulently opened, you need to speak/send a letter to the data controller, providing the evidence that they were opened fraudulently. They are legally bound to have the account entries removed from your credit file. They will not show in your current or closed account section once done.


That’s correct, if you drop a ball and a default is applied, there is no removing it for 6 years from the date it was applied.

However, when defaults are applied to an individual from a fraud perspective, they are removed pretty quickly.

Incidentally, if you have had a default placed on your file from a fraud perspective, and you get knocked back from a prime mortgage and have to take a sub-prime mortgage at crap interest rates, you can take the company who put the default on your file to the cleaners and request in court that they pay you compensation that covers the difference in interest rates.
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Brilliant, cheers. I've already proved they were opened fraudulently and they've been closed now so it sounds like it's all in hand.
 
No7 said:
That’s correct, if you drop a ball and a default is applied, there is no removing it for 6 years from the date it was applied.

However, when defaults are applied to an individual from a fraud perspective, they are removed pretty quickly.

Incidentally, if you have had a default placed on your file from a fraud perspective, and you get knocked back from a prime mortgage and have to take a sub-prime mortgage at crap interest rates, you can take the company who put the default on your file to the cleaners and request in court that they pay you compensation that covers the difference in interest rates.
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Default gone as of today, credit score up 103 points immediately. No longer a piece of filth in the eyes of lenders.

right slog that though

had to prove to both the original company and the one who picked up the fraudulent debt that I had nowt to do with it, ever. Financial ombudsman involved after the debt collectors closed their original report And wouldn’t reopen it. Never been on the phone so much in my life. Thank fuck it’s over and I can at least try to forgive the person who exacted all this on us in the first place. Over ten years ago!
 
Bukowski said:
Default gone as of today, credit score up 103 points immediately. No longer a piece of filth in the eyes of lenders.

right slog that though

had to prove to both the original company and the one who picked up the fraudulent debt that I had nowt to do with it, ever. Financial ombudsman involved after the debt collectors closed their original report And wouldn’t reopen it. Never been on the phone so much in my life. Thank fuck it’s over and I can at least try to forgive the person who exacted all this on us in the first place. Over ten years ago!
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Great news mate, we’ll done. Now celebrate by getting a 0% credit card and buy the most expensive 75” TV going haha!
 
The said:
One tells you you’re great (Experian) one tells you you’re good (credit karma) one tells you you’re bang average (clear score). I lost 15 points off one last month, nothing had changed at all, no debts other than mtg, nothing fell off my file, no new accounts opened etc. Then this month I regained those 15 points and again no changes to owt.
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Credit scores mean absolutely nowt. Lenders don't even look at them when making decisions, they're just a con to get people to pay for additional services / tips to increase the pointless score.

All that matters is your level of credit utilisation, payment history etc.
 
I’m completely baffled, I have no idea how this credit score thing is supposed to work.

Tried to sign up to a phone contract yesterday (haven’t bothered for the last eight(ish) years because just used work phone), but my request has been declined because something not right with the credit score check or something.

So when I’ve looked into it, I have a high credit score, but because my credit history is negligible it’s a red flag or something.

Feels like I’m being penalised simply because I’ve always saved up to buy stuff, never had a mortgage (family house which is paid for), never used a credit card, or brought a car….

Makes no sense to me.
 
Dark Traveller said:
I’m completely baffled, I have no idea how this credit score thing is supposed to work.

Tried to sign up to a phone contract yesterday (haven’t bothered for the last eight(ish) years because just used work phone), but my request has been declined because something not right with the credit score check or something.

So when I’ve looked into it, I have a high credit score, but because my credit history is negligible it’s a red flag or something.

Feels like I’m being penalised simply because I’ve always saved up to buy stuff, never had a mortgage (family house which is paid for), never used a credit card, or brought a car….

Makes no sense to me.
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I usually buy a large-ish item every year on a credit card. Get the added protection of section 75 of the Consumer Credit Act too. I can set my direct debit payments to clear the balance in 12 months or so. Mad in this day and age not to have one. Have you signed up to Credit Karma or someone similar?
 
Paddy O'Dors said:
I usually buy a large-ish item every year on a credit card. Get the added protection of section 75 of the Consumer Credit Act too. I can set my direct debit payments to clear the balance in 12 months or so. Mad in this day and age not to have one. Have you signed up to Credit Karma or someone similar?
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I haven't got a credit card like, do keep thinking about getting one just for this reason but then forget.
I do have credit like and phone contract etc so guess that helps on the credit evaluation stuff.
 
Dark Traveller said:
I’m completely baffled, I have no idea how this credit score thing is supposed to work.

Tried to sign up to a phone contract yesterday (haven’t bothered for the last eight(ish) years because just used work phone), but my request has been declined because something not right with the credit score check or something.

So when I’ve looked into it, I have a high credit score, but because my credit history is negligible it’s a red flag or something.

Feels like I’m being penalised simply because I’ve always saved up to buy stuff, never had a mortgage (family house which is paid for), never used a credit card, or brought a car….

Makes no sense to me.
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It's exactly what I said earlier on in the thread. To the banks your risk is unknown which in itself a risk. And it can cause problems

Always best to pay for big items / holidays etc on credit card, for added protection. Which in turn will boost your credit history.
 
42 said:
It's exactly what I said earlier on in the thread. To the banks your risk is unknown which in itself a risk. And it can cause problems

Always best to pay for big items / holidays etc on credit card, for added protection. Which in turn will boost your credit history.
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Don't go over 25% of your credit limit on the card either.
 
Dark Traveller said:
I’m completely baffled, I have no idea how this credit score thing is supposed to work.

Tried to sign up to a phone contract yesterday (haven’t bothered for the last eight(ish) years because just used work phone), but my request has been declined because something not right with the credit score check or something.

So when I’ve looked into it, I have a high credit score, but because my credit history is negligible it’s a red flag or something.

Feels like I’m being penalised simply because I’ve always saved up to buy stuff, never had a mortgage (family house which is paid for), never used a credit card, or brought a car….

Makes no sense to me.
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Another thing to bear in mind is that if you keep applying and getting knocked back it adversely affects your credit rating.
 
Dark Traveller said:
I’m completely baffled, I have no idea how this credit score thing is supposed to work.

Tried to sign up to a phone contract yesterday (haven’t bothered for the last eight(ish) years because just used work phone), but my request has been declined because something not right with the credit score check or something.

So when I’ve looked into it, I have a high credit score, but because my credit history is negligible it’s a red flag or something.

Feels like I’m being penalised simply because I’ve always saved up to buy stuff, never had a mortgage (family house which is paid for), never used a credit card, or brought a car….

Makes no sense to me.
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They will want to quantify the risk you pose and unfortunately, no/limited credit history is still a risk as they can't properly determine what they consider your risk to be.

f***ing daft that you can't get a phone contract with those assets to your name mind.
 
Titus said:
They will want to quantify the risk you pose and unfortunately, no/limited credit history is still a risk as they can't properly determine what they consider your risk to be.

f***ing daft that you can't get a phone contract with those assets to your name mind.
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Probably only get offered a credit card with a 30%+ APR on the open market. I think I'd be nipping in my bank to see if I could get a cheaper one although even 30% shouldn't be to onerous if you don't gan daft with it.
 
Titus said:
They will want to quantify the risk you pose and unfortunately, no/limited credit history is still a risk as they can't properly determine what they consider your risk to be.

f***ing daft that you can't get a phone contract with those assets to your name mind.
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Aye, I had tried to sign up to a phone contract with Sky Mobile. With being Sky customer for nearly 30 years they keep chucking all sorts of offers at me. So after the attempt was declined I rang their Customer Services to see if they could help.

Basically had the bloke on the phone completely baffled too. Went through a load of questions.

Work history (yes, worked for same company for 25 years).
Credit card? Yes but never used it.
Any outstanding debt or loans. No.
And a few other questions, which escape me at the moment...

He just couldn't understand why my request got declined, as a customer who been with them for nearly 30 years and no issues of any sort, he thought they'd bending over backwards to sign me up.
 
Dark Traveller said:
Basically had the bloke on the phone completely baffled too. Went through a load of questions.

Work history (yes, worked for same company for 25 years).
Credit card? Yes but never used it.
Any outstanding debt or loans. No.
And a few other questions, which escape me at the moment...
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Electoral register?
 
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Bukowski said:
Default gone as of today, credit score up 103 points immediately. No longer a piece of filth in the eyes of lenders.

right slog that though

had to prove to both the original company and the one who picked up the fraudulent debt that I had nowt to do with it, ever. Financial ombudsman involved after the debt collectors closed their original report And wouldn’t reopen it. Never been on the phone so much in my life. Thank fuck it’s over and I can at least try to forgive the person who exacted all this on us in the first place. Over ten years ago!
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I bet that feels good, pleased you can now properly move on from the situation.

Just checked mine, Clearscore is 1000/1000 and Credit Karma 646/710
 
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