How can they be so different????

[irishboy]

Hi All

Just got a copy of my credit score from Equifax and experian. My Equifax score is regarded as "Excellent" (although it is the bottom part of the excellent bracket), however my Experian score is poor at 716.

 

The experian score states that the following has a positive effect-

Factors that are having a positive effect on your score

You make all your repayments on time and in full - no accounts have been paid late in the past six

months

You are on the electoral roll (registered to vote) at your current address

You have made two or fewer applications for credit in the last six months

You don't have any county court judgments and you have not been declared bankrupt in the last six

years

 

The following has a negative effect -

Factors that are having a negative effect on your score

You have several credit agreements (excluding mortgages), and the outstanding balance is high

 

 

However if you look at my experian score from previously. It was higher at 839 which put me in the good category although I had a CCJ at that time.

Positive effcets -

Factors that are having a positive effect on your score

You make all your repayments on time and in full - no accounts have been paid late in the past six

months

You are on the electoral roll (registered to vote) at your current address

You have made two or fewer applications for credit in the last six months

 

Negative effects

FNegatssactors that are having a negative effect on your score

You have county court judgments or have been made bankrupt in the last six years

You have several credit agreements (excluding mortgages), and the outstanding balance is high

 

My Equifax report states - You have a score of 511. Your score is highly predictive that you would be a strong candidate for credit. You are well above the average for UK borrowers. Most credit grantors would consider this score excellent. While many factors other than your score influence the decision to grant credit, you will probably not be turned down for loans based on your score alone. Many credit grantors may also offer you preferential terms such as higher credit limits or lower rates.

 

There is no difference as to what information is held by both companies.

Can anyone explain this and which would be the most accurate.

Sorry its so long winded.

Many Thanks

[craigers]

ignore cra scores, they mean nothing.