I think that there might be some information on this site as well, in the debt solving part of the money channel???

Cat

go through google=martin lewis money tips

Hi

Where can Martins money tips be found?

log on to = "martins money tips" = "your credit ratings, how it works and how to improve it".

Yes I will keep you all posted and if anyone wants me to ring and ask a question then I will happily do so!!

Have a good day!!

Oh dear! ;-))

Cat

Oh boy - you had to mention it twice! Once was bad enough ... bad kitty! Wouldn't have credited you with doing that ...

Apologies for my unintentional pun - all credit to them??

Cat

Aha!

I knew that there had to be more to it. But at least they were helpful enough to respond to your query and tell you a bit about how the system works - all credit to them for that.

Keep us posted as to how you get on improving it - you could offer some useful tips and advice to others in a similar position.

Cat

Hello Catastrophica

Great minds think alike, I actually did contact them this morning and gave them my details.

They told me that if you have more than two credit searches on your file within 6 months this will dent your score by 50 - 60 points. I had three!

She also told me that because I had a recent ly opened a bank account past (6 mnths) and a new credit card (past 2 mnths) this will have contributed to my score being lowered!

Crazy really how this credit score works!! Only allowing you two searches in any 6 mnth period!! So I have to be patient unitl April before I will be rated "good" or above.

As I understand it, a credit score is actually a bit more complex than just a monitor of your debts and how you pay them. I'm not sure exactly how it works, but, there are other factors involved.

Why not contact Experian and ask them what needs to be done for your score to improve? I don't imagine they will give away their trade secrets - a a credit rating will be a complex diagnostic tool that they market to banks etc - but they might well give you some pointers as to when, and how, it is likely to improve.

Cat

zizzy, thanks for the advice, your answer is still a little vague.

I am not having problems managing my credit per say.

What I am struggling to do is raise my score, I just wanted to know if by having less money owed would that help to increase my score?

zizzy:please if you have spare cash channel it to paying off the balance on your credit card, it will save you much on the mothly interest you pay on the card and that can be used to pay off the remainder of your 9 month loan. If you have less credit baggage, it will help you manage your credit file very well , to improve your score.

please if you have spare cash channel it to paying off the balance on your credit card, it will save you much on the mothly interest you pay on the card and that can be used to pay off the remainder of your 9 month loan. If you have less credit baggage, it will help you manage your credit file very well , to improve your score.

I know what I signed!

My point was missing one payment would not lower your rating to "fair" obviously there is something else which is affecting it.

Missing one payment 8 months ago should at the maximum drop my credit to "good"