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 Post subject: Re: Credit scoring
PostPosted: Mon Sep 11, 2017 9:00 pm 
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It depends where they get the reference information from, They only may have 20-30 people in you area referenced against x agencies that don't hold you information

lies, damn lies and statistics


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For this message the author Bob225 has received gratitude : fitzy
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 Post subject: Re: Credit scoring
PostPosted: Thu Sep 14, 2017 12:29 pm 
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Very strange. Checked my barclaycard app and although they withdrew their offer of the £500 increase, the limit on other card has increased by £1000.

It's quite good because it now means that my debt is below 50% of my available credit, which is seen as quite significant by lenders apparently.



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 Post subject: Re: Credit scoring
PostPosted: Thu Sep 14, 2017 12:42 pm 
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fitzy wrote:
It's quite good because it now means that my debt is below 50% of my available credit, which is seen as quite significant by lenders apparently.

This is, apparently, the banks' own method to increase their lending, thus increasing their business/profitability in the face of dropping demand and the main cause for the financial collapse we're headed for. It might sound ok to yourself but this method is being offered to people who have known, poor credit...... card limit up to the hilt? Never mind, let's increase your limit to help you out...... FFS :roll:

It's not 'good' at all.......

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 Post subject: Re: Credit scoring
PostPosted: Thu Sep 14, 2017 3:47 pm 
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I had credit account with a large supplier started with a £1200 limit in the space of 5 years it was nearly £18k, I may of put £2-300 a month through that account (not even £20 on some occasions)

That was getting silly so after many calls I end up speaking directly to the underwriters and dropped and fixed it to £1500 limit


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 Post subject: Re: Credit scoring
PostPosted: Thu Sep 14, 2017 5:39 pm 
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kellys_eye wrote:
fitzy wrote:
It's quite good because it now means that my debt is below 50% of my available credit, which is seen as quite significant by lenders apparently.

This is, apparently, the banks' own method to increase their lending, thus increasing their business/profitability in the face of dropping demand and the main cause for the financial collapse we're headed for. It might sound ok to yourself but this method is being offered to people who have known, poor credit...... card limit up to the hilt? Never mind, let's increase your limit to help you out...... FFS :roll:

It's not 'good' at all.......
It doesn't necessarily mean that I am going to go out and max my credit out though.

Having a better profile also means that if I do need to borrow or refinance, I can get better rates, or even longer zero interest rates.

My plan is to be totally debt free. The better my credit score, the quicker I'm going to get there.

So yes, it is good for me. Maybe not others, and it should be remembered that this is only one of many ways of assessing people's creditworthiness.

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