Credit rating question...
Discussion
Following on from not being able to get credit in order to replace my current car I've had a look at my shocking low credit score + report on-line.
Now I think I've identified what I can do to improve my score.
A couple of American sites have suggested that "If you've been a good customer, a lender might agree to simply erase that one late payment from your credit history. You usually have to make the request in writing, and your chances for a "goodwill adjustment" improve the better your record with the company (and the better your credit in general). But it can't hurt to ask.
A longer-term solution for more-troubled accounts is to ask that they be "re-aged." If the account is still open, the lender might erase previous delinquencies if you make a series of 12 or so on-time payments."
Has anyone managed to do this on a UK account, I can't quite imagine banks in this country doing it OR it being a simple, quick process.
So, anyone tried it?~
Another question - how much does changing your address effect your credit rating?
In the last 18 months, I've lived in three different places and I'm about to move again.
I'm thinking of changing my banking address to my parents house as they'll stay where they are for 10 years, but not sure about the other (Perhaps legal or otherwise) implications of this.
Now I think I've identified what I can do to improve my score.
A couple of American sites have suggested that "If you've been a good customer, a lender might agree to simply erase that one late payment from your credit history. You usually have to make the request in writing, and your chances for a "goodwill adjustment" improve the better your record with the company (and the better your credit in general). But it can't hurt to ask.
A longer-term solution for more-troubled accounts is to ask that they be "re-aged." If the account is still open, the lender might erase previous delinquencies if you make a series of 12 or so on-time payments."
Has anyone managed to do this on a UK account, I can't quite imagine banks in this country doing it OR it being a simple, quick process.
So, anyone tried it?~
Another question - how much does changing your address effect your credit rating?
In the last 18 months, I've lived in three different places and I'm about to move again.
I'm thinking of changing my banking address to my parents house as they'll stay where they are for 10 years, but not sure about the other (Perhaps legal or otherwise) implications of this.
Edited by HBFS on Sunday 22 January 23:49
Edited by HBFS on Sunday 22 January 23:50
I can't help you with the first but can can with the second part. Lenders don't like lots of changes of address, simple as that. Giving your bank your parents address will probably be handy, but being on the electoral roll is more important as far as your credit rating is concerned. May I ask why you move so much? If it's due to shifting work around the country (contracting or similar) then it may be worth investigating the possibility of making your parents address your main residence and being on the electoral roll there permanently, i'm not sure about the legals but if possible it would help you having a stable address.
I've lived in houseshares for the last 18 months and unfortunately, I've felt the need to move out as soon as my contract expires (6 months).
I'm in a really nice place now where I'd like to stay but the landlord has just given notification that he wants to move back in, hence moving again!
Thinking about it, I would have the odd issue with an on-line vendor: In that a lot of them these days will over deliver to the billing address. So I have that to consider.
There must be other implications though?
Like if I need to give to forms of ID, one from the bank and the other driving licence. THis conflict could cause issues, maybe its not a good idea...
No-one has tried to have a missed payment erased from file then?
I'm in a really nice place now where I'd like to stay but the landlord has just given notification that he wants to move back in, hence moving again!
Thinking about it, I would have the odd issue with an on-line vendor: In that a lot of them these days will over deliver to the billing address. So I have that to consider.
There must be other implications though?
Like if I need to give to forms of ID, one from the bank and the other driving licence. THis conflict could cause issues, maybe its not a good idea...
No-one has tried to have a missed payment erased from file then?
Gassing Station | Finance | Top of Page | What's New | My Stuff