PIP 0 #1 Posted June 4, 2019 Can anyone tell me why I would want to check my credit score? and more importantly what do the myriad of providers get out of it, I can't believe they offer this service out of the goodness of their hearts. Share this post Link to post Share on other sites Share this content via...
DeZeus 11 #2 Posted June 4, 2019 (edited) The only reasons you might want to check your Credit Scores: 1. To check if you are eligible for a Loan? At a very good rate? 2. If you're rejected for a Loan? To find out why? 3. If you have a known checkered or poor payment history? The higher the number for your Credit Score, usually the better the rate you get the Loan at. If a low number Score then you might be offered loans at a higher rate of interest due to extra risk.... Clearscore do the scoring for free.. But have no ideas what they would get out of it... unless I suspect it's just an Email farming collection system for Loans Companies Leads... By the way if you've never had Any form of Credit, you would have a very Low Score...... Edited June 4, 2019 by DeZeus .:. Share this post Link to post Share on other sites Share this content via...
ECCOnoob 1,036 #3 Posted June 4, 2019 14 minutes ago, DeZeus said: The only reasons you might want to check your Credit Scores: 1. To check if you are eligible for a Loan? At a very good rate? 2. If you're rejected for a Loan? To find out why? 3. If you have a known checkered or poor payment history? The higher the number for your Credit Score, usually the better the rate you get the Loan at. If a low number Score then you might be offered loans at a higher rate of interest due to extra risk.... Clearscore do the scoring for free.. But have no ideas what they would get out of it... unless I suspect it's just an Email farming collection system for Loans Companies Leads... By the way if you've never had Any form of Credit, you would have a very Low Score...... That's pretty much exactly what it is. They give you a free credit score with real time tracking service every time someone adds or gets removed from your file. In return they have perfect accesss to your credit history and can send you a nice little message once a month of tailored offers. No such thing as a free lunch and all that. To be honest. I am quite happy with clearscore. Its free, easy to set up and with exception of the monthly updates (which admitted always has a couple of "offers") they dont bombard you too much. Share this post Link to post Share on other sites Share this content via...
willman 10 #4 Posted June 5, 2019 They also link you to "pre approved" lending and also to other financial sites. The only problem with Clearscore and there is another free one similar is that not all financial institutes take any notice of their data,even though it is usually provided by Equifax and Experian originally.(that is my current experience using a High St lender recently anyway) Most of them also identify searches on your account - i had a search warning last week, it turned out to be from the mobile company that Plusnet have taken over - it doesn't matter in real terms but it could be anyone searching under your name. Share this post Link to post Share on other sites Share this content via...
PIP 0 #5 Posted June 5, 2019 Thanks for the replies, more or less what I thought, I've never had problems getting credit and I get enough Junk mail, so I think I'll manage without one. Share this post Link to post Share on other sites Share this content via...
Cyclone 10 #6 Posted June 5, 2019 (edited) 12 hours ago, DeZeus said: The only reasons you might want to check your Credit Scores: 1. To check if you are eligible for a Loan? At a very good rate? 2. If you're rejected for a Loan? To find out why? 3. If you have a known checkered or poor payment history? The higher the number for your Credit Score, usually the better the rate you get the Loan at. If a low number Score then you might be offered loans at a higher rate of interest due to extra risk.... Clearscore do the scoring for free.. But have no ideas what they would get out of it... unless I suspect it's just an Email farming collection system for Loans Companies Leads... By the way if you've never had Any form of Credit, you would have a very Low Score...... This entirely misses the idea that you might want to check it and monitor it to be sure that no fraud nor mistake has taken place. Edit - I use clearscore as well, I don't bother to look at their offers and a once a month email is no hardship. I'm fairly confident that they won't sell on my email address, but if they do (it's a one use address specific to them) then I'll be happy to have them fined under GDPR. Edited June 5, 2019 by Cyclone Share this post Link to post Share on other sites Share this content via...
Dozer 13 #7 Posted June 5, 2019 Martin Lewis offers free credit checking as well. https://www.moneysavingexpert.com/creditclub I check it from time to time just to make sure nothing inaccurate goes on my report. Share this post Link to post Share on other sites Share this content via...
