TRC is primarily funded by ad revenue. If you like the content you find here, don't block the ads check them out instead. Thank you.
Page 1 of 3 123 LastLast
Results 1 to 15 of 34

Thread: Credit Score?

  1. #1
    Should Get Out More Horse's Avatar
    Join Date
    Dec 2007
    Location
    Always Sunny Central Southern England
    Posts
    23,577
    Like
    3,036
    Liked 4,033 in 2,680 posts

    Default Credit Score?


    TRC is primarily funded by ad revenue. If you like
    the content you find here, don't block the ads check
    them out instead. Thank you.
    There's a load of TV ads, from a multitude of different companies, encouraging people to check their personal credit score.

    How do these companies make their money, do they harvest and sell the personal details?

  2. #2
    Really Bored Nordboy's Avatar
    Join Date
    Aug 2008
    Location
    Wales
    Posts
    3,883
    Like
    599
    Liked 1,110 in 571 posts

    Default Re: Credit Score?

    Maybe they make money from all the advertising they have on their websites, for loads of financial products?

  3. The following user liked this post made by Nordboy:


  4. #3
    Should Get Out More demographic's Avatar
    Join Date
    Dec 2007
    Location
    Less than fifty miles from Moscow, honest guv...
    Posts
    22,873
    Like
    1,699
    Liked 1,890 in 1,143 posts

    Default Re: Credit Score?

    Not exactly sure but it seems to me that you pay the same people to check that fuck you over later on?
    Then they have your details to lose to hackers or sell to randoms?

    I generally figure that the best way is to minimise interactions with any of them.

    I'm a trusting soul aren't I?

  5. #4
    Should Get Out More Horse's Avatar
    Join Date
    Dec 2007
    Location
    Always Sunny Central Southern England
    Posts
    23,577
    Like
    3,036
    Liked 4,033 in 2,680 posts

    Default Re: Credit Score?

    Quote Originally Posted by Nordboy View Post
    Maybe they make money from all the advertising they have on their websites, for loads of financial products?
    I'll take your word for it, I've not felt the need to check!

  6. #5
    Should Get Out More Mussels's Avatar
    Join Date
    Jan 2008
    Location
    Not in London
    Posts
    18,023
    Like
    1,526
    Liked 1,475 in 1,033 posts

    Default Re: Credit Score?

    They sell you stuff appropriate to your score, however it can miss off bits so the paid version is better if you are thinking of a mortgage.

  7. #6
    Should Get Out More KungFooBob's Avatar
    Join Date
    Aug 2012
    Location
    The Forest Moon of Endor
    Posts
    18,354
    Like
    459
    Liked 8,470 in 4,783 posts

    Default Re: Credit Score?

    They give you a score... then tell you what 'products' you are liable to be accepted for with that score. It's all about selling loans and credit cards.

  8. The following user liked this post made by KungFooBob:


  9. #7
    Should Get Out More KungFooBob's Avatar
    Join Date
    Aug 2012
    Location
    The Forest Moon of Endor
    Posts
    18,354
    Like
    459
    Liked 8,470 in 4,783 posts

    Default Re: Credit Score?

    They're not all the same either.

    I got Experian free through a Barclay card, I have a score of 999 out of 999, yet on Clear Score (which uses Equifax data) I'm at 541 out of 700.

  10. #8
    Should Get Out More Horse's Avatar
    Join Date
    Dec 2007
    Location
    Always Sunny Central Southern England
    Posts
    23,577
    Like
    3,036
    Liked 4,033 in 2,680 posts

    Default Re: Credit Score?

    And what are you supposed to do with this magic number? Or do to change it?

  11. #9
    Should Get Out More The Martian's Avatar
    Join Date
    Jan 2008
    Location
    Earth...just visiting
    Posts
    31,884
    Like
    6,816
    Liked 3,933 in 2,268 posts
    Blog Entries
    2

    Default Re: Credit Score?

    Quote Originally Posted by Horse View Post
    And what are you supposed to do with this magic number? Or do to change it?
    Establish your credit rating before seeking loans, mortgages etc as any refusals make it go down - the better your score, the less of a risk you are deemed to be so should get best rates.

    To change it, get a loan and repay it or have a CC and clear it every month to improve it.

    If you want to lower it, borrow loads, jack your job and offer them a 1 a week repayment from your benefits

  12. #10
    Should Get Out More Yorick's Avatar
    Join Date
    Jan 2008
    Location
    Lanzarote
    Posts
    41,692
    Like
    7,292
    Liked 6,851 in 4,268 posts
    Blog Entries
    6

    Default Re: Credit Score?

    I never had loans or credit card, so never gave a shit about credit score. When I went for a mortgage, I had plenty of colateral so was OK.
    Last edited by Yorick; 17-11-19 at 18:09.

  13. #11
    Should Get Out More Horse's Avatar
    Join Date
    Dec 2007
    Location
    Always Sunny Central Southern England
    Posts
    23,577
    Like
    3,036
    Liked 4,033 in 2,680 posts

    Default Re: Credit Score?

    Quote Originally Posted by Yorick View Post
    I never borrowed money or had credit card, so never gave a shit about credit score. When I went for a mortgage, I had plenty of colateral so was OK.
    Silly me, I thought a mortgage was borrowed money

    But 'credit score' is something I've never had to worry about.

    That said, my first mortgage was 100%, with a bridging loan for the deposit and a bank loan for the fees! I don't think those sorts of deals are available to today's first time buyers.

  14. #12
    Really Bored
    Join Date
    May 2014
    Location
    Llanafan & Holland
    Posts
    3,804
    Like
    94
    Liked 922 in 679 posts

    Default Re: Credit Score?

    If you want to know your score, do not use the commercials, it may affect your score and, as has been said, they need to flog you stuff. Martin Lewis's moneysavingexpert.whatever will do it in a non impact free way for you.

  15. #13
    Should Get Out More
    Join Date
    Dec 2007
    Location
    A windswept Hebridean paradise.
    Posts
    23,020
    Like
    2
    Liked 4,727 in 2,735 posts
    Blog Entries
    8

    Default Re: Credit Score?

    Quote Originally Posted by Horse View Post
    Silly me, I thought a mortgage was borrowed money

    But 'credit score' is something I've never had to worry about.

    That said, my first mortgage was 100%, with a bridging loan for the deposit and a bank loan for the fees! I don't think those sorts of deals are available to today's first time buyers.
    And a good thing too. It must be about time that 100%+ mortgages made a comeback. At least for a couple of years before the next crash.

  16. #14
    Really Bored
    Join Date
    May 2014
    Location
    Llanafan & Holland
    Posts
    3,804
    Like
    94
    Liked 922 in 679 posts

    Default Re: Credit Score?

    Quote Originally Posted by cheb View Post
    And a good thing too. It must be about time that 100%+ mortgages made a comeback. At least for a couple of years before the next crash.
    I think the big problem was 120% mortgages....

  17. The following 2 users liked this useful post by davidat19:


  18. #15
    Should Get Out More irie's Avatar
    Join Date
    Dec 2007
    Location
    Noviomagus Reginorum
    Posts
    21,756
    Like
    6,180
    Liked 3,089 in 2,215 posts

    Default Re: Credit Score?

    Quote Originally Posted by Yorick View Post
    I never had loans or credit card, so never gave a shit about credit score. When I went for a mortgage, I had plenty of colateral so was OK.
    Exactly wtf is a mortgage if it's not a loan? lol!

Page 1 of 3 123 LastLast
Go Back to Forum My Forum

TRC Affiliates - Help TRC make a small amount of commission