credit score
- Thread starter clid61
- Start date
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nickyboy
Norven Mankey
- Location
- You want hills? We got hills
Have I ever mentioned I don't own a television?
Smokin Joe
Squire
- Location
- Bare headed cyclist, Smoker
I used to rent one myself.
Pale Rider
Legendary Member
Do you have a mortgage?
Do you pay utility bills monthly or quarterly in arrears?
Do you have a contract mobile phone?
Do you have a credit card, whether you pay it off every month or not?
If so, you have credit and your credit score, as a measure of your credit worthiness, is relevant.
Electric_Andy
Heavy Metal Fan
- Location
- Plymouth
I've done a free credit score check, mine came out as excellent (999, whatever that means). I did it just out of interest. If you never need credit then it won't matter if your score is good or not, but some people care about it because it can affect whether or not you get a loan/mortgage/credit card or not, and at what rate. Some exclusive offers are only open to those with good credit scores, apart from the scoundrel ones who want to make money and sell loans to people with a low score, knowing that they'll probably struggle to pay it back so can make more on interest over the years it takes them to pay it off.
D
Deleted member 26715
Guest
Only because they want you to think it is, we managed for a very long time without them.
Pale Rider
Legendary Member
You managed without quarterly utility bills?
Did you have slot meters for the gas and electric?
I had them once in a bedsit, ruddy nuisance, always running out at an inconvenient time,
I have found them to be grossly inaccurate.
(The main supplier being Experian)
A person I know very well applied for a 8K interest free loan to do up a kitchen
She owns multiple properties worth millions, has over half a million in shares, and has a civil service final salary pension
Has had credit cards for over 40 years
Never been overdrawn, never had outstanding debts
She was declined
When asked 'why' they were unable to say
A few months ago my company offered us a free credit check
I tried mine
I also have substantial verifiable assets
Also never been overdrawn or had debts (and never had credit cards)
They were unable to verify anything about me.
They then wanted to ask a whole load of questions, see proof of income, proof of ownership etc.
I declined on the basis it was none of their business.
Basically unless you have applied for a non-bank loan (ie car finance) or rented a property via an Agent, then you don't exist on the Experian or D&B database.
(The main supplier being Experian)
A person I know very well applied for a 8K interest free loan to do up a kitchen
She owns multiple properties worth millions, has over half a million in shares, and has a civil service final salary pension
Has had credit cards for over 40 years
Never been overdrawn, never had outstanding debts
She was declined
When asked 'why' they were unable to say
A few months ago my company offered us a free credit check
I tried mine
I also have substantial verifiable assets
Also never been overdrawn or had debts (and never had credit cards)
They were unable to verify anything about me.
They then wanted to ask a whole load of questions, see proof of income, proof of ownership etc.
I declined on the basis it was none of their business.
Basically unless you have applied for a non-bank loan (ie car finance) or rented a property via an Agent, then you don't exist on the Experian or D&B database.
Last edited:
steverob
Guru
- Location
- Buckinghamshire
Credit scores have actually been around for a VERY long time, but you weren't allowed to see them, so nobody knew about them apart from lenders. It's only because in the last few years that the companies involved realised { people might want to see them / they could make money out of selling you that information }* that it's become a much more public thing.
* delete depending upon your level of cynicism
pawl
Legendary Member
- Location
- Desford Leicestershire
Smokin Joe
Squire
- Location
- Bare headed cyclist, Smoker
Talking of credit, while I was watching the cycling on Eurosport this pm an advert came on for one of these quick loan companies.
APR, 93%
APR, 93%
Quite cheap compared to someTalking of credit, while I was watching the cycling on Eurosport this pm an advert came on for one of these quick loan companies.
APR, 93%
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £300 for 65 days with one repayment of £78.00 and one repayment of £378.00. Total repayment: £456.00. Interest: £156.00. Interest rate: 292% pa (fixed). 1294.1% APR Representative
D
Deleted member 1258
Guest
Quite cheap compared to some
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £300 for 65 days with one repayment of £78.00 and one repayment of £378.00. Total repayment: £456.00. Interest: £156.00. Interest rate: 292% pa (fixed). 1294.1% APR Representative
That's still a bit low, try reading the small print on the bottom of the screen when these companies are advertising, I'm sure I saw one with an APR of 1299%
