Experian Boost (now also available for Monzo)

[Ordog]

Since nobody has shared a source for their information yet I’ll start…

So, when they decide whether to lend you money, lenders consider a range of different criteria. Your credit score is usually one of the most important, but it isn’t the only thing.

Taken from: https://monzo.com/blog/2018/08/09/what-is-a-credit-score

and…

Do lenders see the same score as I do?

No, lenders see a different credit score to you. Theirs may be calculated with a specific product (like a loan or credit card) in mind, to help them better predict if you’ll pay them back. Some lenders work out scores themselves and may use information that CRAs don’t have (like details on your credit application, such as your income).

The credit score you get from a CRA is more generic than the one lenders see. It’s designed to give you an idea of your chances of getting credit, but it can’t tell you for certain if you’ll be approved.

So, you may still get turned down for credit even if a CRA says you have a high score. Equally, some lenders may be more willing to lend to you than your score lets on.

Taken from: https://monzo.com/blog/2020/11/24/big-guide-to-borrowing-and-debt

So getting caught up in perfecting your credit score AND spending money to do so wouldn’t be wise in my opinion.

Sure, use it as a guide - but as mentioned above don’t be surprised if you still get refused.

[coffeemadman (Jonathon 🏳️‍🌈)]

I think you’re mixing up Credit Score and Credit Report.

Lenders see your Credit Report. This is raw data. They do not see your Credit Score. In all likelihood they will have their own “score” for you.

[unniv (Unni)]

You are right. They do calculate their own score to determine your eligibility for an application. They pull the credit report (which shows up as a hard search) and your records are reviewed by the system. The system takes the report mainly and also the credit score generated by the credit unions to derive their own scoring.

[unniv (Unni)]

That’s true. Nothing in this world is for 100% free without any strings attached. Be it Gmail or any other free service.

[16bitkieran (Kieran)]

Experian Experts UK (ExperianExperts)

[BenLeo (Ben)]

Urgh.

I strongly advise that no one does this.

[Jays6]

Definitely agree

[richycran (Rich)]

Credit reference agencies holding more personal data. What could possibly go wrong…?

Experian: Credit agency told to stop sharing data without consent

[Jays6]

If anything then seeing all your transactions could in turn make being accepted for credit harder. Alarm bells ringing everywhere

[DaveJ (Dave)]

Done mine, I’m not arsed what they can see.

[SouthseaOne (Michael)]

I have closed three other topics, one new today and two from November 2020, in favour of this one

Please let me know if there are any others out there

[chl1628 (Chris Lee)]

payments for GiffGaff, Tesco, Sainsbury’s, Morrison… standing order to pay my rent, nothing to hide

heck, they might put a marker for not spending enough and being boring…

[Jays6]

Experian Experts UK (ExperianExperts)

[Ordog]

There’s already a topic about this and the same tweet has been posted in there too:

Experian Boost (now also available for Monzo)

[Jays6]

Thanks for pointing that out

[PaulUK]

If @Peter_G is the Poll Master, you must be in line for Search Master

Numerous times you have managed to find similar topics for new threads that OPs don’t seem to be able to find

[Jays6]

Literally . I’ve requested someone to close this thread

[Ordog]

Hahaha since I waste so much time on here I seem to have an index in my brain, so that makes it easier than using search

[SouthseaOne (Michael)]

Closing this topic in favour of that kindly identified by @Ordog:

Experian Boost (now also available for Monzo)

[Jays6]

@Ordog

Hahaha since I waste so much time on here

I don’t see time wasted on here. Some really good discussions and polls sometimes