I’m on a Miss Marple stint, trying to work out why my credit score is the lowest it’s ever been. Reason being I’m better with dollar. I combatted my vinyl  habit, became tighter with recreation expenditure (boring…) and I paid off all my loans (student don’t count in my opinion). I  have no credit cards and a considerably small overdraft  (that I’m trying hard not to use). My credit score has normally fallen in the good bracket and as low as fair, but never poor.

Credit is like gold dust to a freelancer (as well as everyone else), cash flow is topsy-turvy and an overdraft and credit card (don’t want one) can come in useful.

Here are the results of my investigation for credit success so far:

  • make sure you’re on the electoral roll – I wasn’t, D’oh!
  • make sure credit information groups such as Experian and Equifax can get relevant information from your bank account, apparently they couldn’t, cue cat and mouse chase with banks and Experian both denying responsibility for sorting (yawn).
  • according to my bank, they had my nationality down as Afghan, this also affects your credit score (apparently). Just spoke to Experian and this is bullpooh, a form of discrimination, so Sandra at Lloyds was lying. Bad Sandra!
  • don’t apply for loads of accounts/loans/credit cards at the same time, you appear credit hungry, not a good look. I tried to open an ethical bank account twice within 3 months,  the new property I moved into had post code issues…. I had possibly entered something called the ‘rejection spiral’
  • not having a credit card isn’t good either, when used correctly, regularly payments etc. you’ll either build up a credit history if yours is zilch, or improve a dodgy one. The guy at Experian says I have to get a high APR credit card with a low limit and clear it each month. Booo, I hate credit cards, got rid of mine years ago, I thought I was being good!

Stay tuned for more updates re. Sort My Credit… Here is more informaiton for improving your credit score if yours is shocking like mine.

Apologies to those who are reading this post shaking their head in disbelief, “How did she not know these things?” you exclaim. Well, erm…

Has anyone else had credit issues? Care to share tips?


mark · September 17, 2010 at 11:03 pm

I have a weak credit score too btw 🙁 Really surprised me there. Note to self: get on the electoral role too!

Anna · September 24, 2010 at 3:53 pm

Really honest and helpful post, will definitely be following your advice! Thanks Bobbie.

Bobbie · September 24, 2010 at 4:02 pm

No worries Anna and cheers Mark for making me feel less of a plonker about money! I’m not alone! Yay!

A Simple Thing · September 30, 2010 at 7:56 pm

Thanks for that! I didn’t know that either.
I have a credit card, but I don’t even know how to use it.

Or, in fact, where it is.
Hmmm…..better go and check for it…

If you want to know what a man is really like, take notice of how he acts when he loses money. · October 22, 2010 at 2:23 pm

[…] of the money chronicles: starting to sort my money mystery out, my previous address isn’t listed/recognised so now that my mail is back at a stable […]

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