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| UK diy (uk.d-i-y) For the discussion of all topics related to diy (do-it-yourself) in the UK. All levels of experience and proficency are welcome to join in to ask questions or offer solutions. |
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#1
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TOT Experian
If you sign up, at £14-99 a month, for the Experian report does your credit rating improve? If you cancel after the 30 day free trial does the score go down? My CC company offers me free access to my credit score but not report. However, as my score is high I'm not worried about the details. -- mailto: news {at} admac {dot] myzen {dot} co {dot} uk |
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#2
Posted to uk.d-i-y
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TOT Experian
No it does not affect your score. I signed up for a trial after the
Halifax nominated a credit rating as the reason my internet application for a credit card wasn't progressed. They simply tell you what your status is accounts wise and list any points against One. The result informed me that the Halifax were a bunch of disgusting liars who nominated Experian as a substitute for their inability to operate their web applications properly. When I finally wrung an apology out of the liars, they were supposed to give £25-00 to charity, needless to say the thieving scumbags kept the cash themselves. The other thing I learnt about Experian is that they do not list overseas accounts, so presumably if you are going to go into debt, do it in dollars or Euro. I did pay briefly for monthly reports, but nothing changed and the only thing popping up was the odd phone account being opened, so I saved my cash and terminated, as borrowing money meant that I have to hand over my money to people that are at least as bone idle as those dole scroungers are reputed to be, I would prefer my money went to the dole scroungers and not someone with his Porche parked up in the Halifax directors car park or similar. A lot of people on the Dole get proper jobs & produce things anyway. No change to the score I assume anyway. Methinks there is something morally wrong about a company being employed by institutions to give details of potential clients, then offering those clients a means to "improve their credit score". There is the taint of a rodent to this practice. AB On Sat, 23 Jul 2016 16:48:34 +0100, alan_m wrote: If you sign up, at £14-99 a month, for the Experian report does your credit rating improve? If you cancel after the 30 day free trial does the score go down? My CC company offers me free access to my credit score but not report. However, as my score is high I'm not worried about the details. --- This email has been checked for viruses by Avast antivirus software. https://www.avast.com/antivirus |
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#3
Posted to uk.d-i-y
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TOT Experian
alan_m wrote:
If you sign up, at £14-99 a month, for the Experian report does your credit rating improve? I would hope not ... |
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#4
Posted to uk.d-i-y
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TOT Experian
On Sat, 23 Jul 2016 16:48:34 +0100, alan_m wrote:
If you sign up, at £14-99 a month, for the Experian report does your credit rating improve? If you cancel after the 30 day free trial does the score go down? My CC company offers me free access to my credit score but not report. However, as my score is high I'm not worried about the details. Try Clearscore - its free and AIR pulls its data from Experian. I signed up a few months back when I was told a 'poor credit report' had influenced the opening of a bank account and that they had checked on Experian. I had a good score and the only search that was registered was the one the bank *subsequently* made when I complained. They then opened the account. |
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#5
Posted to uk.d-i-y
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TOT Experian
On Saturday, 23 July 2016 16:48:39 UTC+1, alan_m wrote:
If you sign up, at £14-99 a month, for the Experian report does your credit rating improve? If you cancel after the 30 day free trial does the score go down? You can get the basic credit report and fraud monitoring for a lot less than that - which they will offer you if you phone up to cancel your £14.99 You can also probably reclaim a portion of the £14.99 charge if it includes insurance which you may have been mis-sold. Owain |
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#7
Posted to uk.d-i-y
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TOT Experian
On Sat, 23 Jul 2016 22:41:03 +0100, "Brian Gaff"
wrote: I have to say that these do seem a bit like nicking the silver then flogging it back to the person you nicked it from in the first place This is I think known as value added services. Halifax, Lloyds again innit? Brian The very same, furthermore I had accounts with both, the Halifax going back to privatisation days [I think I ended up with £70-00] So I was more than irritated when they sent the standard web message suggesting my credit score was at fault. Not a good idea on my part, but I did see it as a personal affront. I would have made £25-00 from the complaint if I hadn't told them to stuff their cash and give it to charity. As I heard nothing afterward I can only assume the thieving scumbags kept it. At least I have one less account to keep track of! Methinks the latest TV ads for one of those services showing youngsters frolicking in a very carefree way as a result no doubt of credit score tuning, is somewhat misleading. Carefree and finding ways to go into debt easier are not really compatable! AB AB --- This email has been checked for viruses by Avast antivirus software. https://www.avast.com/antivirus |
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#8
Posted to uk.d-i-y
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TOT Experian
On 23/07/2016 22:41, Brian Gaff wrote:
I have to say that these do seem a bit like nicking the silver then flogging it back to the person you nicked it from in the first place This is I think known as value added services. Halifax, Lloyds again innit? Brian I applied for a credit card with the P.O. they had a good deal going with I believe, 24 months interest free. When I filled in forms I could not find out what the credit limit was, so did not fully apply. I then had a phone call from the P.O. asking me if I was going to agree to a credit agreement, in the end the credit limit was not enough and I had to use the card within a set period for the 24 months to kick in. I then found out that I have a mark against me on my credit reference because I had applied and not taken the card deal. |
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#9
Posted to uk.d-i-y
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TOT Experian
On Sun, 24 Jul 2016 17:31:21 +0100, critcher
wrote: On 23/07/2016 22:41, Brian Gaff wrote: I have to say that these do seem a bit like nicking the silver then flogging it back to the person you nicked it from in the first place This is I think known as value added services. Halifax, Lloyds again innit? Brian I applied for a credit card with the P.O. they had a good deal going with I believe, 24 months interest free. When I filled in forms I could not find out what the credit limit was, so did not fully apply. I then had a phone call from the P.O. asking me if I was going to agree to a credit agreement, in the end the credit limit was not enough and I had to use the card within a set period for the 24 months to kick in. I then found out that I have a mark against me on my credit reference because I had applied and not taken the card deal. A credit check counts against One, makes shopping around a bit of a problem. Apparently getting a loan from Wonga also drags the score down. I suspect that the credit limits were limited because of the ridiculous levels attached to credit cards a few years back. Card use was encouraged [along with interest payments], hence the automatic raising of credit limits after any few purchases. This changed, I think around twelve years back, I know I had a right intensive Q&A session with First Direct when I wanted a 10K limit on my visa card. As far as I know, the limit still stands, it never increased. AB --- This email has been checked for viruses by Avast antivirus software. https://www.avast.com/antivirus |
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#10
Posted to uk.d-i-y
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TOT Experian
On 24/07/16 17:46, Archibald Tarquin Blenkinsopp wrote:
On Sun, 24 Jul 2016 17:31:21 +0100, critcher wrote: On 23/07/2016 22:41, Brian Gaff wrote: I have to say that these do seem a bit like nicking the silver then flogging it back to the person you nicked it from in the first place This is I think known as value added services. Halifax, Lloyds again innit? Brian I applied for a credit card with the P.O. they had a good deal going with I believe, 24 months interest free. When I filled in forms I could not find out what the credit limit was, so did not fully apply. I then had a phone call from the P.O. asking me if I was going to agree to a credit agreement, in the end the credit limit was not enough and I had to use the card within a set period for the 24 months to kick in. I then found out that I have a mark against me on my credit reference because I had applied and not taken the card deal. A credit check counts against One, makes shopping around a bit of a problem. Not always - there's a "lite" check that has no effect. Apparently getting a loan from Wonga also drags the score down. That makes perfect sense. If you are that stupid/desperate, you should not be borrowing any more. I suspect that the credit limits were limited because of the ridiculous levels attached to credit cards a few years back. Card use was encouraged [along with interest payments], hence the automatic raising of credit limits after any few purchases. This changed, I think around twelve years back, I know I had a right intensive Q&A session with First Direct when I wanted a 10K limit on my visa card. As far as I know, the limit still stands, it never increased. AB --- This email has been checked for viruses by Avast antivirus software. https://www.avast.com/antivirus |
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#11
Posted to uk.d-i-y
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TOT Experian
On Sunday, 24 July 2016 22:13:50 UTC+1, Tim Watts wrote:
On 24/07/16 17:46, Archibald Tarquin Blenkinsopp wrote: On Sun, 24 Jul 2016 17:31:21 +0100, critcher wrote: On 23/07/2016 22:41, Brian Gaff wrote: I have to say that these do seem a bit like nicking the silver then flogging it back to the person you nicked it from in the first place This is I think known as value added services. Halifax, Lloyds again innit? Brian I applied for a credit card with the P.O. they had a good deal going with I believe, 24 months interest free. When I filled in forms I could not find out what the credit limit was, so did not fully apply. I then had a phone call from the P.O. asking me if I was going to agree to a credit agreement, in the end the credit limit was not enough and I had to use the card within a set period for the 24 months to kick in. I then found out that I have a mark against me on my credit reference because I had applied and not taken the card deal. A credit check counts against One, makes shopping around a bit of a problem. Not always - there's a "lite" check that has no effect. Apparently getting a loan from Wonga also drags the score down. That makes perfect sense. If you are that stupid/desperate, you should not be borrowing any more. Does it make sense ?. I must admit I'm not sure what the credit score is meant to show having never checked mine as I haven;t had a credit card in 30 years. I thought the higher yuor score the more gulable and stupid you were because you keep having to take out loans and pay back interest. I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? |
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#12
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 10:40, whisky-dave wrote:
I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. |
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#13
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 13:18, Clive George wrote:
On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. If you have not had any credit in 30+ years (credit card, loan, mortgage, Mobile phone, overdraft) the cc card people wont know anything at all about you. Even though you may be a millionaire they would initially regard you as high risk, until proven otherwise. Doesn't necessarily mean you wouldn't be able to get a cc, but you would probably not be offered the "Typical APR", but one much higher in the first instance -- Chris B (News) |
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#14
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 13:18, Clive George wrote:
On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. Yep, Mortgage paid off a few years back. I use my credit card a lot and then always pay off the full amount each month. No other loans for 20+ years I have a very high Experian score -- mailto: news {at} admac {dot] myzen {dot} co {dot} uk |
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#15
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 13:43, Chris B wrote:
On 27/07/2016 13:18, Clive George wrote: On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. If you have not had any credit in 30+ years (credit card, loan, mortgage, Mobile phone, overdraft) the cc card people wont know anything at all about you. Even though you may be a millionaire they would initially regard you as high risk, until proven otherwise. Doesn't necessarily mean you wouldn't be able to get a cc, but you would probably not be offered the "Typical APR", but one much higher in the first instance Sorry it looks like I misread the original post "I;'ve not given CC cards any intrest in 30+ years" as "I have not had any interest in CC in 30+ years". -- Chris B (News) |
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#16
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 13:18:26 UTC+1, Clive George wrote:
On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. If I borrow on a regular basis say I take a a loan to pay for a cup of coffee then pay it back with interest that gives me a higher score, because they make a profit from me. If I default on a payment but make it good again that's an even higher score. The people with the highest aka better scores are those that stay in debt to creditors, the more in debt the higher the4 percentage. This is why germany likes lending to Greece and other countries so they have have cash to buy opals and VWs. |
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#17
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 13:43:44 UTC+1, Chris B wrote:
On 27/07/2016 13:18, Clive George wrote: On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. If you have not had any credit in 30+ years (credit card, loan, mortgage, Mobile phone, overdraft) the cc card people wont know anything at all about you. I had a mortgage but they see that differnty as it;'s a lage sellable asset usually. Even though you may be a millionaire they would initially regard you as high risk, until proven otherwise. yes someone that can pay off debts without incurring charges is a high risk of them making zero profit. Doesn't necessarily mean you wouldn't be able to get a cc, I never said I couldn't it's been offered and the offer goes where wodney flushes his brains. ;-) but you would probably not be offered the "Typical APR", but one much higher in the first instance. the ones through the post seemed to have a preset APR and I wasn't aware that a APR is tailered to a person rather than a lender setting it. |
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#18
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 14:13, whisky-dave wrote:
On Wednesday, 27 July 2016 13:18:26 UTC+1, Clive George wrote: On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. If you have a CC and pay it off before interest is due, you have been loaned money even though you might not have paid for it. So you were told wrong. FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. |
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#19
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote:
On 27/07/2016 14:13, whisky-dave wrote: On Wednesday, 27 July 2016 13:18:26 UTC+1, Clive George wrote: On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. If you have a CC and pay it off before interest is due, you have been loaned money even though you might not have paid for it. So you were told wrong. When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. I have no intention of paying an annual fee for this service. |
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#20
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 16:07, whisky-dave wrote:
On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: On 27/07/2016 14:13, whisky-dave wrote: On Wednesday, 27 July 2016 13:18:26 UTC+1, Clive George wrote: On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. If you have a CC and pay it off before interest is due, you have been loaned money even though you might not have paid for it. So you were told wrong. When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. I love it when people assume stupid things. There are plenty of free (no annual fee) credit cards about. If you pay them off each month in time, you also don't pay interest. But it's still a loan which gets noted as such in your credit score - ie you get a record for good payment without having to pay extra for it. The loan is for the period between the transaction happening and the payment being made, ie a month or so. I have no intention of paying an annual fee for this service. Neither do I. In fact, I get a small cash cut of the transactions which go through my CC. The CC company make their money through the merchant fees. |
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#21
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 16:07, whisky-dave wrote:
On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: On 27/07/2016 14:13, whisky-dave wrote: FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. I have no intention of paying an annual fee for this service. I pay no annual fee for my credit card and some of the amount I spend on it gets refunded (cash back card). I also regard the CC company as a second source of warranty on purchases over £100 albeit I've never had to use this facility. -- mailto: news {at} admac {dot] myzen {dot} co {dot} uk |
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#22
Posted to uk.d-i-y
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TOT Experian
alan_m wrote:
On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: On 27/07/2016 14:13, whisky-dave wrote: FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. I have no intention of paying an annual fee for this service. I pay no annual fee for my credit card and some of the amount I spend on it gets refunded (cash back card). I also regard the CC company as a second source of warranty on purchases over £100 albeit I've never had to use this facility. I regard the CC company as the first form of warranty when buying air tickets, after the travel co went tits up the same day we bought the tickets. Her cc card from Tesco was excellent to deal with and credited her account within a few days of a claim being made. They were also excellent when her card was cloned at a petrol station. If only they could manage to keep the email address and US contacts in their system and manage to use them when there is a foreign problem. The telephone service has always been brilliant. I use the for all on line and DD transactions as we can always stop a purchase pending a conflict resolution. Our bank account is strictly manual for payments and it will stay that way. All our friend with on line banking have had loss problems, we're not going to join! |
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#23
Posted to uk.d-i-y
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TOT Experian
whisky-dave wrote
Clive George wrote whisky-dave wrote I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . Either by someone who doesnt have a clue or you misunderstood what they told you, as usual. As no one has lent money to me and got it back They did with the mortgage. I will have a low credit score. Wrong given the mortgage. If I borrow on a regular basis say I take a a loan to pay for a cup of coffee then pay it back with interest that gives me a higher score, And your mortgage will do much better than that, because it is for much more. because they make a profit from me. The score has nothing to do with the profit they made. It is about risk. If I default on a payment but make it good again that's an even higher score. Utterly mangled all over again. Any default will lower the score, even it it is made good later. The people with the highest aka better scores are those that stay in debt to creditors, the more in debt the higher the4 percentage. Utterly mangled all over again. This is why germany likes lending to Greece and other countries so they have have cash to buy opals and VWs. Even sillier than you usually manage. |
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#24
Posted to uk.d-i-y
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TOT Experian
whisky-dave wrote
Chris B wrote Clive George wrote whisky-dave wrote I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. If you have not had any credit in 30+ years (credit card, loan, mortgage, Mobile phone, overdraft) the cc card people wont know anything at all about you. I had a mortgage but they see that differnty Wrong. as it;'s a lage sellable asset usually. But it also involves a lot more paid off regularly every month etc so is a very good indication of how reliable you are in paying what you owe when all the payments were made on time. Even though you may be a millionaire they would initially regard you as high risk, until proven otherwise. yes someone that can pay off debts without incurring charges is a high risk of them making zero profit. Profit isnt what your credit score is about. Doesn't necessarily mean you wouldn't be able to get a cc, I never said I couldn't it's been offered and the offer goes where wodney flushes his brains. ;-) but you would probably not be offered the "Typical APR", but one much higher in the first instance. the ones through the post seemed to have a preset APR And are generally higher than what you would pay if you had a very good credit score and had been paying your cards off in full for decades and had been using them for all your purchases. and I wasn't aware that a APR is tailered to a person rather than a lender setting it. Even sillier than you usually manage. |
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#25
Posted to uk.d-i-y
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TOT Experian
"whisky-dave" wrote in message ... On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: On 27/07/2016 14:13, whisky-dave wrote: On Wednesday, 27 July 2016 13:18:26 UTC+1, Clive George wrote: On 27/07/2016 10:40, whisky-dave wrote: I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. If you have a CC and pay it off before interest is due, you have been loaned money even though you might not have paid for it. So you were told wrong. When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. No annual fee on my CC. I have no intention of paying an annual fee for this service. You dont need to. |
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#26
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 14:13, whisky-dave wrote:
I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. Probably yes - it's often a long history of payment that is important for a higher score. If I borrow on a regular basis say I take a a loan to pay for a cup of coffee then pay it back with interest that gives me a higher score, because they make a profit from me. If I default on a payment but make it good again that's an even higher score. It's the repayment that is important and not the interest you pay. Defaulting will lower your score The people with the highest aka better scores are those that stay in debt to creditors, the more in debt the higher the4 percentage No, but having a high credit score doesn't necessarily mean that a company wants you as a customer. If they want low risk custom then they may only accept people with a high score. If they want customers who stay 'reasonably' in debt they will reject people with a low score because they have no record of repayment or have previously defaulted. They may only accept people with an average credit score to exclude those who normally pay off debt quickly giving no additional profit. This is why germany likes lending to Greece and other countries so they have have cash to buy opals and VWs. Or to stop their own economy collapsing when the Euro fails. -- mailto: news {at} admac {dot] myzen {dot} co {dot} uk |
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#27
Posted to uk.d-i-y
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TOT Experian
On 27/07/2016 14:19, whisky-dave wrote:
the ones through the post seemed to have a preset APR and I wasn't aware that a APR is tailered to a person rather than a lender setting it. They usually say 'Representative APR' My bank says.... Quote:
score so they may be able to offer the headline rate to many current customers but they must also quote higher rates to those that are a higher risk. -- mailto: news {at} admac {dot] myzen {dot} co {dot} uk |
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#28
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote:
On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. I love it when people assume stupid things. There are plenty of free (no annual fee) credit cards about. It's been a while since I've seen one that is free. I tried on moneysupermarker but they wante dot know so much about me, my adress my bank even phone number. Giving all this info to someone is NOT what I call free, which is why I havent; bothered with a 'free' credit card. If you pay them off each month in time, you also don't pay interest. Yes I know the theory I had one in the past. The the direct debit came out and I've use dthat ever since. But it's still a loan which gets noted as such in your credit score - ie you get a record for good payment without having to pay extra for it. The loan is for the period between the transaction happening and the payment being made, ie a month or so. yes so. I have no intention of paying an annual fee for this service. Neither do I. In fact, I get a small cash cut of the transactions which go through my CC. The CC company make their money through the merchant fees. and I get cash back for direct debits on my DD card it varies between 1-3%. if I piad with a CC I donlt think it'd get the above. |
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#29
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 18:08:44 UTC+1, alan_m wrote:
On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: On 27/07/2016 14:13, whisky-dave wrote: FWIW like alan_m the only form of loan I have amy more is my CC, paid off monthly without incurring interest, and my credit score is perfect.. didnlt think that was a CC label but well done I assume yuo've paid a CC compmany an annual fee for your card well done. I have no intention of paying an annual fee for this service. I pay no annual fee for my credit card and some of the amount I spend on it gets refunded (cash back card). I also regard the CC company as a second source of warranty on purchases over £100 albeit I've never had to use this facility. Yes that is one use I've concidered for them as I have with holiday insurance and travel and cinima tickets and all the other specails they throw at you because they really want to give you extra value. Not too difernt from the buy one get one free offers as long as yuo make good use of teh so called extras then it's worthwhile, but a months free intrested on my shopping is just not worth it. |
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#30
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 21:21:42 UTC+1, Rod Speed wrote:
whisky-dave wrote Clive George wrote whisky-dave wrote I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . Either by someone who doesnt have a clue or you misunderstood what they told you, as usual. As no one has lent money to me and got it back They did with the mortgage. I haven't got a mortgage. I will have a low credit score. Wrong given the mortgage. I haven't got a mortgage If I borrow on a regular basis say I take a a loan to pay for a cup of coffee then pay it back with interest that gives me a higher score, And your mortgage will do much better than that, because it is for much more. I haven't got a mortgage because they make a profit from me. The score has nothing to do with the profit they made. It is about risk. if they don;t profit from it why do it. Why do you assume banks lend you money out of good will and to make your life better ? If I default on a payment but make it good again that's an even higher score. Utterly mangled all over again. Any default will lower the score, even it it is made good later. Which doesn't make sense or perhaps that's why I assume my score is low becausxe I defaulted on paying back a £5.21 loan on a barcleycard in 1978. I paid it off the next month. The people with the highest aka better scores are those that stay in debt to creditors, the more in debt the higher the4 percentage. Utterly mangled all over again. why do you think banks are in teh **** they are lending money to hogh risk costomers becuase in theory they will make more money in the future. This is why germany likes lending to Greece and other countries so they have have cash to buy opals and VWs. Even sillier than you usually manage. Greece is poor yet look at the cars they can afford to buy via loans. Just try thinking about it next time your get an great offer to borrow money. I do wonder how peolpe afford these new smart cars advertised then I realise they are only £99 quid a month. If I removed my brain I could afford that rather than my ~£80 a month travel card. |
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#31
Posted to uk.d-i-y
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TOT Experian
On 28/07/2016 10:46, whisky-dave wrote:
On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote: On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. If you are just curios then https://www.noddle.co.uk/ will give you an idea for free in a monthly report. If nothing else it does give you a head start on any fraudsters as they will tell you if any credit checks have been carried out on you - if they weren't done as a result of some application you have made then be suspicious. I'm sure they will try to flog you some Rolls-Royce version but you are under no obligation to buy - you don't even have to cancel a trial version. -- Chris B (News) |
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#32
Posted to uk.d-i-y
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TOT Experian
On Wednesday, 27 July 2016 23:01:54 UTC+1, alan_m wrote:
On 27/07/2016 14:13, whisky-dave wrote: I was told the opposite . As no one has lent money to me and got it back I will have a low credit score. Probably yes - it's often a long history of payment that is important for a higher score. If I borrow on a regular basis say I take a a loan to pay for a cup of coffee then pay it back with interest that gives me a higher score, because they make a profit from me. If I default on a payment but make it good again that's an even higher score. It's the repayment that is important and not the interest you pay. Defaulting will lower your score Yes I know that's what I was told back in the mid 70s, but didn't tell me what it meant. The people with the highest aka better scores are those that stay in debt to creditors, the more in debt the higher the4 percentage No, but having a high credit score doesn't necessarily mean that a company wants you as a customer. SO these componies that offer unsecured loans are they losing their shirt or raking it in ? If they want low risk custom then they may only accept people with a high score. If they want customers who stay 'reasonably' in debt they will reject people with a low score because they have no record of repayment or have previously defaulted. They may only accept people with an average credit score to exclude those who normally pay off debt quickly giving no additional profit. This is why germany likes lending to Greece and other countries so they have have cash to buy opals and VWs. Or to stop their own economy collapsing when the Euro fails. That';s just a conspiracy theory I've heard Germany would never do such a thing as risk the eiro to protect their own trade. cough |
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#33
Posted to uk.d-i-y
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TOT Experian
On Thursday, 28 July 2016 11:02:19 UTC+1, Chris B wrote:
On 28/07/2016 10:46, whisky-dave wrote: On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote: On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. If you are just curios then https://www.noddle.co.uk/ will give you an idea for free in a monthly report. If nothing else it does give you a head start on any fraudsters as they will tell you if any credit checks have been carried out on you - if they weren't done as a result of some application you have made then be suspicious. I'm sure they will try to flog you some Rolls-Royce version but you are under no obligation to buy - you don't even have to cancel a trial version. Cheers I mught just give that a try. Bottle of domestos at the ready to clean computer of viruses... Oh I forgot I've got a MAc ;-) |
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#34
Posted to uk.d-i-y
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TOT Experian
whisky-dave wrote
Rod Speed wrote whisky-dave wrote Clive George wrote whisky-dave wrote I;'ve not given CC cards any intrest in 30+ years so what will my score be.... low I'd assume as no CC company has made money out of me. Does that make me a high or low risk ? CC counts as a loan, even if you pay it off in time for no interest, so it counts in your favour. Because you thus have a good record for paying your loans off in time, you'll probably have a nice high score = low risk. I was told the opposite . Either by someone who doesnt have a clue or you misunderstood what they told you, as usual. As no one has lent money to me and got it back They did with the mortgage. I haven't got a mortgage. But presumably did have one and they know what you did payments wise when you had one. I will have a low credit score. Wrong given the mortgage. I haven't got a mortgage But presumably did have one and they know what you did payments wise when you had one. If I borrow on a regular basis say I take a a loan to pay for a cup of coffee then pay it back with interest that gives me a higher score, And your mortgage will do much better than that, because it is for much more. I haven't got a mortgage But presumably did have one and they know what you did payments wise when you had one. because they make a profit from me. The score has nothing to do with the profit they made. It is about risk. if they don;t profit from it why do it. They do profit from it with the merchant fees even if you do pay of the balance in full every month. Why do you assume banks lend you money out of good will and to make your life better ? I assume nothing of the sort. If I default on a payment but make it good again that's an even higher score. Utterly mangled all over again. Any default will lower the score, even it it is made good later. Which doesn't make sense Corse it does. Those who have ever defaulted are clearly a poorer risk than those who have never done that. or perhaps that's why I assume my score is low becausxe I defaulted on paying back a £5.21 loan on a barcleycard in 1978. I paid it off the next month. More fool you. That is a stupid assumption. The people with the highest aka better scores are those that stay in debt to creditors, the more in debt the higher the4 percentage. Utterly mangled all over again. why do you think banks are in teh **** they are lending money to hogh risk costomers becuase in theory they will make more money in the future. They charge them a rate of interest that ensure the bank comes out ahead. This is why germany likes lending to Greece and other countries so they have have cash to buy opals and VWs. Even sillier than you usually manage. Greece is poor yet look at the cars they can afford to buy via loans. Even sillier than you usually manage. Just try thinking about it next time your get an great offer to borrow money. I dont need to borrow money. I do wonder how peolpe afford these new smart cars advertised then I realise they are only £99 quid a month. If I removed my brain Not even possible, they dont make microscopes that good. I could afford that rather than my ~£80 a month travel card. Even sillier than you usually manage. |
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#35
Posted to uk.d-i-y
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TOT Experian
On 28/07/2016 10:46, whisky-dave wrote:
On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote: On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. You probably don't. I certainly didn't, but I was curious enough to check. I love it when people assume stupid things. There are plenty of free (no annual fee) credit cards about. It's been a while since I've seen one that is free. I suggest you're not looking terribly hard. http://www.moneysavingexpert.com/credit-cards/ Follow links on there and you can find plenty. Or to pick a high street bank at random, https://www.barclaycard.co.uk/person...ds-summary-box I tried on moneysupermarker but they wante dot know so much about me, my adress my bank even phone number. Giving all this info to someone is NOT what I call free, which is why I havent; bothered with a 'free' credit card. Any credit card company will want to know your name, address, bank, phone number. They're offering to loan you several thousand pounds, they're not going to do that to somebody they don't know. If you're sufficiently tin-foil-hatted to find that instrusive, then yes, this conversation is a waste of time. and I get cash back for direct debits on my DD card it varies between 1-3%. Santander 123? if I piad with a CC I donlt think it'd get the above. I think I'd struggle to pay for my shopping with a direct debit... |
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#36
Posted to uk.d-i-y
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TOT Experian
On Thursday, 28 July 2016 13:17:08 UTC+1, Clive George wrote:
On 28/07/2016 10:46, whisky-dave wrote: On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote: On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. You probably don't. I certainly didn't, but I was curious enough to check. I tried to check but for spme reason it wanted to know my DOB address and many other things I assumed all they'd need is my account number and perhaps my name. So I was a bit suspoiuos as am am when even facebook wants details that I don't think it nees. I love it when people assume stupid things. There are plenty of free (no annual fee) credit cards about. It's been a while since I've seen one that is free. I suggest you're not looking terribly hard. http://www.moneysavingexpert.com/credit-cards/ Follow links on there and you can find plenty. None that I like though, I don't like the T&Cs and I read them. Or to pick a high street bank at random, https://www.barclaycard.co.uk/person...ds-summary-box that's the one I cut up, wouldn't go for barclays again. I tried on moneysupermarker but they wante dot know so much about me, my adress my bank even phone number. Giving all this info to someone is NOT what I call free, which is why I havent; bothered with a 'free' credit card. Any credit card company will want to know your name, address, bank, phone number. They're offering to loan you several thousand pounds, they're not going to do that to somebody they don't know. And I don't want to give my details out to everyone. If there CC offered me so much I might be tempted but I haven't yet found one that does. If one comes out I'll apply for it. If you're sufficiently tin-foil-hatted to find that instrusive, then yes, this conversation is a waste of time. Not instrusive just not much use to me. Now I know peolpe with wads of CC and all sorts of card everytime I go into a shop (clothes especailly) they ask do you want our store CC I say NO even if they offer me 10% discount I still say NO. |
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#37
Posted to uk.d-i-y
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TOT Experian
rOn Thu, 28 Jul 2016 13:17:02 +0100, Clive George
wrote: On 28/07/2016 10:46, whisky-dave wrote: On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote: On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. You probably don't. I certainly didn't, but I was curious enough to check. I love it when people assume stupid things. There are plenty of free (no annual fee) credit cards about. It's been a while since I've seen one that is free. I suggest you're not looking terribly hard. http://www.moneysavingexpert.com/credit-cards/ Follow links on there and you can find plenty. Or to pick a high street bank at random, https://www.barclaycard.co.uk/person...ds-summary-box I tried on moneysupermarker but they wante dot know so much about me, my adress my bank even phone number. Giving all this info to someone is NOT what I call free, which is why I havent; bothered with a 'free' credit card. Any credit card company will want to know your name, address, bank, phone number. They're offering to loan you several thousand pounds, they're not going to do that to somebody they don't know. If you're sufficiently tin-foil-hatted to find that instrusive, then yes, this conversation is a waste of time. and I get cash back for direct debits on my DD card it varies between 1-3%. Santander 123? if I piad with a CC I donlt think it'd get the above. I think I'd struggle to pay for my shopping with a direct debit... Interesting - pay your cash back credit card by dd and get two lots of cash back - bet there's a t&c to block it. -- AnthonyL |
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#38
Posted to uk.d-i-y
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TOT Experian
On 28/07/2016 14:16, whisky-dave wrote:
On Thursday, 28 July 2016 13:17:08 UTC+1, Clive George wrote: On 28/07/2016 10:46, whisky-dave wrote: On Wednesday, 27 July 2016 16:31:54 UTC+1, Clive George wrote: On 27/07/2016 16:07, whisky-dave wrote: On Wednesday, 27 July 2016 15:38:10 UTC+1, Clive George wrote: When I hear that from someone that works in a bank I'll listen again. Whether things have change since the early 90s I don;t know. I have no idea what my score is. You can find out for free if you want. That's how I know mine. I probably won't bother checking again. I'm curious but not sure why I need to know. You probably don't. I certainly didn't, but I was curious enough to check. I tried to check but for spme reason it wanted to know my DOB address and many other things I assumed all they'd need is my account number and perhaps my name. So I was a bit suspoiuos as am am when even facebook wants details that I don't think it nees. Yes, they will need to know those details, they're essential to let them look up who you are and score you. I love it when people assume stupid things. There are plenty of free (no annual fee) credit cards about. It's been a while since I've seen one that is free. I suggest you're not looking terribly hard. http://www.moneysavingexpert.com/credit-cards/ Follow links on there and you can find plenty. None that I like though, I don't like the T&Cs and I read them. That's different to "it's been a while since I've seen one that is free.". There's plenty of them about for people who are careful with their cash. Or to pick a high street bank at random, https://www.barclaycard.co.uk/person...ds-summary-box that's the one I cut up, wouldn't go for barclays again. Me neither, but I just picked them as a demonstration of how easy it is. Any credit card company will want to know your name, address, bank, phone number. They're offering to loan you several thousand pounds, they're not going to do that to somebody they don't know. And I don't want to give my details out to everyone. If you want to wear that tin foil hat, yes, people will not want to lend to you. |
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#39
Posted to uk.d-i-y
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TOT Experian
On Saturday, July 23, 2016 at 4:48:39 PM UTC+1, alan_m wrote:
If you sign up, at £14-99 a month, for the Experian report does your credit rating improve? If you cancel after the 30 day free trial does the score go down? My CC company offers me free access to my credit score but not report. However, as my score is high I'm not worried about the details. -- mailto: news {at} admac {dot] myzen {dot} co {dot} uk |
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