Jump to content
House Price Crash Forum
ph4t

Experian Credit Score

Recommended Posts

I was just speaking to my Bank and they say I have a B credit score which means I would have to put down a 15% rather than a 10% deposit.

What does a B credit score mean?

Can this be improved?

Share this post


Link to post
Share on other sites

Can this be improved?

Take on as much debt as you can, iPad contracts, Credit from Argos, SKY TV including sports channels, Wonga loans.. Make sure you visit Cash For Gold too, that might help things.

Seriously, the more debt you are carrying and interest you are paying the better your score.

Credit Score = How much rent can be extracted score.

Share this post


Link to post
Share on other sites

Take on as much debt as you can, iPad contracts, Credit from Argos, SKY TV including sports channels, Wonga loans.. Make sure you visit Cash For Gold too, that might help things.

Seriously, the more debt you are carrying and interest you are paying the better your score.

Credit Score = How much rent can be extracted score.

I was surprised to hear recently that my Experian credit reference is excellent. Although I have no debt, other than the balance on my credit cards before they are settled, in full, each month, by direct debit.

Share this post


Link to post
Share on other sites

Remember that Experian do not hold a "credit score" for you. They just hold the raw information which is searched/shared by any organisation that you are trying to do business with.

So in this case your bank will have one method of coming up with their arbitrary idea of your "score", Argos will have another, Sky will have another, etc.

So the answer to your question about your bank's so-called "B credit score" can only be answered by them, not Experian, as it's your bank that made it up.

HTH

Share this post


Link to post
Share on other sites

I was just speaking to my Bank and they say I have a B credit score which means I would have to put down a 15% rather than a 10% deposit.

What does a B credit score mean?

Can this be improved?

As mentioned, it means nothing other than to that particular bank, and their own internal scoring system. As a result of their internal scoring system and credit policies, they have determined you as 'B', presumably a higher risk than an 'A', and lower than 'C'. The Bank will not reveal exactly how they made their decision, for risk of opening themselves up to fraud.

The Bank might have already indicated to you which Credit Reference Agency/Agencies (some use multiple) they used to make their decision, and if they have not, will advise you if you ask them.

From there, you can request your file with the relevant CRA.

Share this post


Link to post
Share on other sites

As mentioned, it means nothing other than to that particular bank, and their own internal scoring system. As a result of their internal scoring system and credit policies, they have determined you as 'B', presumably a higher risk than an 'A', and lower than 'C'. The Bank will not reveal exactly how they made their decision, for risk of opening themselves up to fraud.

The Bank might have already indicated to you which Credit Reference Agency/Agencies (some use multiple) they used to make their decision, and if they have not, will advise you if you ask them.

From there, you can request your file with the relevant CRA.

why are people paying for this nonsense service ?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   206 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.