| What the hell is Credit Rating System [message #197340] |
Di, 01 Februar 2005 00:21 |
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Apologies in advance (in the British way) for using F"?$ language....
I'm new to this country.
First time i was pissed off when i tried to open a bank account. No
need to explain all known shit about UK Banks.
Now i gotta pissed off by Credit Rating Agency. I applied for a Credit
Card with a bank and i was refused, stating the reason that Credit
rating agency(ies) didn't give good rating. I wrote back yo the bank
asking them to provide me details about all these shit and they reply
as follows:
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Dear Mr PissedOff,
I have received your letter concerning the credit scoring agents we
use – below is a link to the website where you can search for a
nominal fee your credit history. Although I do not have your exact
application details I would like to take this opportunity to express
that it is quite likely that your history is fine but the credit
scoring for GoddamnBank's new UK credit card is set on a number of
parameters including length of time at addresses in the UK - for
instance. Like any new unsecured credit product we have to take a
conservative approach to credit lending. I do hope you understand.
We will be reviewing past applications on a quarterly basis.
https://www.econsumer.equifax.co.uk/consumer/uk/forward.ehtm l?forward=credu_privacyrights
Kind regards
Some Asshole
Card Operations Manager
Goddamn Bank Ltd
============================================================ ===============
I'm going crazy. Why the hell on the Earth i have to register with
those goddamn agencies for my own credit rating, and that too I NEED
to pay for that.
Can anyone tell me about my rights(a.k.a Consumer Rights) to fuck back
this bank/Agency. Unfortuantely this is also the same bank which
allows me to open a saving and current account with them in UK, and
also they transfer money free of cost to my home country. And back in
my country i have all sorts of accounts with this bank, which i'm
going to close(one way to fuck them).
So it means i can't get a credit card in this country, untill n unless
i register with those agencies?
And if that's final solution then can someone tell me with which
agency(ies) to register with. And with how many agencies i have to
register.
Apologies again to use offensive language, you see i don't drink, and
so i don't have any other way to SHAG.
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| Re: What the hell is Credit Rating System [message #197341 ] |
Di, 01 Februar 2005 01:03 |
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> Apologies in advance (in the British way) for using F"?$ language....
>
<snip>
Equifax is simply a credit reference agency - they don't provide ratings
(except as an additional service which you pay for and which doesn't really
mean anything - but is useful as a guide) Credit references agencies (of
which their are 2 main players in the UK - Experian and Equifax) provide
information concerning an individuals credit file to a bank (for instance)
for that banking organisation to assess your credit worthiness. This is
assessed based on the limit of your current credit commitments (or lack of
them) and your performance of maintaining those commitments (i.e., how many
payments you made, whether you paid them on time, etc).
Credit rating scores are individual to whatever bank or credit card company
you apply to, depending on their own lending criteria. Individual banks or
lending institutions don't usually provide much information on what they
look at when assessing your credit rating or score with them, but there are
some obvious ones, like how long you've lived at your current address, how
long you've been in a job, how many other debts you have, etc.
If you want a copy of your credit reference file, then you can write to
Equifax and/or Experian and apply for a copy under Section 7 of the Data
Protection Act 1998. You can either write to them, or use their on-line
form which can be accessed via their website. If you apply on-line you need
to enter the details of a UK based credit or debit card.
Links here:
Experian: http://www.experian.co.uk/consumer/index.html
Equifax: https://www.econsumer.equifax.co.uk/consumer/uk/
There is a statutory £2 charge for requesting a copy of your credit file by
post which covers the administration costs of sending the file to you. It
costs more if you do it on-line.
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| Re: What the hell is Credit Rating System [message #197345 ] |
Di, 01 Februar 2005 09:08 |
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param_nirvana [at] yahoo.com (Nirvana) wrote:
>And if that's final solution then can someone tell me with which
>agency(ies) to register with. And with how many agencies i have to
>register.
Browse the links on my webpage
<URL:http://mysite.wanadoo-members.co.uk/quickhelp/debt.htm>
Daytona
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| Re: What the hell is Credit Rating System [message #197655 ] |
Di, 01 Februar 2005 12:20 |
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Post removed (X-No-Archive: yes)
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| Re: What the hell is Credit Rating System [message #197669 ] |
Di, 01 Februar 2005 18:17 |
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On Mon, 31 Jan 2005 15:21:12 -0800, Nirvana wrote:
> Now i gotta pissed off by Credit Rating Agency. I applied for a Credit
> Card with a bank and i was refused, stating the reason that Credit
> rating agency(ies) didn't give good rating.
I suggest you try applying for a card which is easy to get with a poor
rating. One is the Capital One classic card. I would make sure to pay off
the card every month as the interest rate is very bad.
http://www.capitalone.co.uk/web/MenuUrl?pageId=30003&z=4 &c=20000
You may also find it easier to apply for a card with your own bank.
cd
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| Re: What the hell is Credit Rating System [message #197681 ] |
Mi, 02 Februar 2005 01:00 |
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On 31 Jan 2005 15:21:12 -0800, param_nirvana [at] yahoo.com (Nirvana)
wrote:
>Apologies in advance (in the British way) for using F"?$ language....
>
>I'm new to this country.
>First time i was pissed off when i tried to open a bank account. No
>need to explain all known shit about UK Banks.
>
>Now i gotta pissed off by Credit Rating Agency. I applied for a Credit
>Card with a bank and i was refused, stating the reason that Credit
>rating agency(ies) didn't give good rating. I wrote back yo the bank
>asking them to provide me details about all these shit and they reply
>as follows:
[snipped]
I trust the language you used in your letter to the bank was a little
more temperate than the impression you give here.
Bank staff are only human.
Rgds
__
Richard Buttrey
Grappenhall, Cheshire, UK
__________________________
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| Re: What the hell is Credit Rating System [message #197685 ] |
Di, 01 Februar 2005 23:32 |
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Here's a free way of getting some idea of what your credit rating would be
and how to improve it. It uses the same style of scoring process as the
banks but becuase you are answering the questions (not equifax) there's no
charge. It'll also work out you estimated credit limit.
Direct download : www.CreditCheckSoftware.com/setup.exe (633K)
Web site : www.CreditCheckSoftware.com
Thanks,
Michael
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| Re: What the hell is Credit Rating System [message #197686 ] |
Mi, 02 Februar 2005 08:56 |
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> [snipped]
>
> I trust the language you used in your letter to the bank was a little
> more temperate than the impression you give here.
>
> Bank staff are only human.
>
Are you sure? Most of the time I call all I get is a automated computer
responder.
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| Re: What the hell is Credit Rating System [message #197688 ] |
Mi, 02 Februar 2005 10:09 |
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"Credit Check Support" wrote
> It'll also work out you estimated credit limit.
Really?! :-o
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| Re: What the hell is Credit Rating System [message #197908 ] |
Mi, 02 Februar 2005 16:01 |
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"Credit Check Support" <support [at] CreditCheckSoftware.com> wrote
> Direct download : www.CreditCheckSoftware.com/setup.exe (633K)
> Web site : www.CreditCheckSoftware.com
According to that credit check, having a lot of Live credit accounts
increases your rating. I thought the opposite would happen because
don't lenders work out the total credit that's available to you if you
max out your existing credit cards, to ensure you can't over commit
yourself?
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| Re: What the hell is Credit Rating System [message #197916 ] |
Mi, 02 Februar 2005 19:28 |
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On Wed, 02 Feb 2005 07:56:45 GMT, "Layezee" <noemail [at] thisaddress.com>
wrote:
>> [snipped]
>>
>> I trust the language you used in your letter to the bank was a little
>> more temperate than the impression you give here.
>>
>> Bank staff are only human.
>>
>
>Are you sure? Most of the time I call all I get is a automated computer
>responder.
Surely only at first contact. You must deal with a real live person at
some stage?
Rgds
__
Richard Buttrey
Grappenhall, Cheshire, UK
__________________________
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| Re: What the hell is Credit Rating System [message #199046 ] |
So, 06 Februar 2005 00:48 |
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The scoring program improves your rating if you have a number of live
accounts. However, there is a point at which it reckons you have too many
and your rating will take a massive hit.
This scoring doesn't mind if you have 2 or 3 credit cards - in fact it means
other instituitions trust you but, like you say, too many and it gets
suspicious why you'd want another credit card and your rating takes a big
hit. Different institutions may vary what is an acceptable number of live
accounts.
"Mark" <here [at] invalidaddress.com> wrote in message
news:36c8asF4vfaquU1 [at] individual.net...
> "Credit Check Support" <support [at] CreditCheckSoftware.com> wrote
>> Direct download : www.CreditCheckSoftware.com/setup.exe (633K)
>> Web site : www.CreditCheckSoftware.com
>
> According to that credit check, having a lot of Live credit accounts
> increases your rating. I thought the opposite would happen because
> don't lenders work out the total credit that's available to you if you
> max out your existing credit cards, to ensure you can't over commit
> yourself?
>
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