Why is my credit score good?

I used Experian to check my credit score and I don't understand how it's so high. It is over 900 but all I've had is a child and then young persons account as well as a student account since 2 months ago. Any ideas why it is high?

Reply 1

username4910484

21

Why are you complaining about that man??? That's a good thing.

Reply 2

Anonymous #1

OP

Original post by glassalice

Why are you complaining about that man??? That's a good thing.

I'm definitely not complaining :smile:

I just don't understand why I have a good credit score.

Reply 3

black tea

19

do you pay a direct debit for anything?

Reply 4

Anonymous #1

OP

Original post by black tea

do you pay a direct debit for anything?

The only things I pay for is my uni accommodation and food, drinks, video games etc.

Reply 5

londonmyst

19

You are lucky, have regular income paid into your accounts and no history of late payment or unpaid bills.
Being on the electoral roll also increases your credit score.

Reply 6

ANM775

20

I checked mine a while back. It was around average...

Reply 7

Anonymous #1

OP

Original post by londonmyst

You are lucky, have regular income paid into your accounts and no history of late payment or unpaid bills.
Being on the electoral roll also increases your credit score.

I didn't use my young persons account for years as my bank card didn't work so I never bought anything with it and I couldn't be bothered to go to the bank to put any money in (I know, very lazy). I've obviously used my student account more. I do get payments from my parents since I started uni and have had a student loan payment.

I am on the electoral roll which would help and I've only had to start paying for anything since I started at uni. I guess all of these small positive things help.

Reply 8

londonmyst

19

Original post by ANM775

I checked mine a while back. It was around average...

No history of repaying bank overdrafts, credit cards, car finance or tenancy payments often results in low to average credit scores.

Reply 9

Anonymous #1

OP

Original post by londonmyst

No history of repaying bank overdrafts, credit cards, car finance or tenancy payments often results in low to average credit scores.

But then why is mine not low to average? I haven't got a credit card, car finance, and the only thing I've paid that isn't something small like food is one uni accommodation payment. I haven't used my bank overdraft.

Original post by Anonymous

But then why is mine not low to average? I haven't got a credit card, car finance, and the only thing I've paid that isn't something small like food is one uni accommodation payment. I haven't used my bank overdraft.

i had similar, right now im on 990 and I've only had a credit card for 1 year. its likely due to not having any debt, overdraft, mortgage, paying everything on time. once you start renting, getting a credit card, it will go lower.

Reply 11

londonmyst

19

Original post by Anonymous

But then why is mine not low to average? I haven't got a credit card, car finance, and the only thing I've paid that isn't something small like food is one uni accommodation payment. I haven't used my bank overdraft.

My previous reply was to a TSR user in his 30s who has been earning a monthly paycheck since his teens, has never had credit cards or car finance and owns a mortgage free property.

Does your accommodation provider update credit agencies on tenant payment history?

Reply 12

Anonymous #1

OP

Original post by londonmyst

Does your accommodation provider update credit agencies on tenant payment history?

Not a clue. It is owned and managed by the university themselves if that helps (probably won't lol)

Reply 13

username1799249

19

Lenders hate people who miss payments. That said, you only know what your credit score truly is when you apply for credit.

Things that go against students are moving around a lot, no fixed or regular income and often not on the electoral role.

Reply 14

IWMTom

20

Original post by Anonymous

But then why is mine not low to average? I haven't got a credit card, car finance, and the only thing I've paid that isn't something small like food is one uni accommodation payment. I haven't used my bank overdraft.

Because, quite frankly, the score is meaningless garbage.

Reply 15

Anonymous #1

OP

Original post by IWMTom

Because, quite frankly, the score is meaningless garbage.

It's a shame that it actually does need to be be decent in order to get the best deals with credit cards etc.

Reply 16

IWMTom

20

Original post by Anonymous

It's a shame that it actually does need to be be decent in order to get the best deals with credit cards etc.

Sorry, but no, that's not correct.

Every lender calculates an internal score in entirely different ways.

The score you see on credit monitoring websites is not representative of how a lender will view you...

It's impossible.

Reply 17

Anonymous #1

OP

Original post by IWMTom