Credit score - not as good as I'd thought

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Forums › Finance and wealth management › Credit score - not as good as I'd thought

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#2156693 8-Jan-2019 21:37

My score is sitting around the 460 mark on CS, it started off around the 800 mark. The only thing that's changed is that I've borrowed more in that time, continued to pay everything on time etc. I trust it as much as I trust Stuff.co.nz tbh. I've never had trouble getting credit, never been declined, always been offered more than I actually want. What amuses me most is it still has my old address which was in a rather low socio-economic area where we were one of the better off families, yet I'm rated in the bottom quarter of the street. If I had a few HP's on the go, a pay day loan or two, maybe a car loan as well than my score would be nice and high.

TheMantis

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#2156699 8-Jan-2019 21:49

God only knows what’s going on with the Credit Simple scores. Last month mine plunged from 853 to 777 yet there was not a single change to my financial situation. Other than than a credit card that is paid in full every month I have no debts to anybody.

k1w1k1d

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#2156813 9-Jan-2019 10:00

Mine has gone up for some reason.

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#2156820 9-Jan-2019 10:11

TheMantis: God only knows what’s going on with the Credit Simple scores. Last month mine plunged from 853 to 777 yet there was not a single change to my financial situation. Other than than a credit card that is paid in full every month I have no debts to anybody.

I am in the same boat my credit card is in credit and my credit score drops, Nothing on HP I have zero idea about this system

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#2156870 9-Jan-2019 10:33

My CS Score has also dropped in the last few months for no apparent reason. Who knows lol.

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sidefx

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#2156899 9-Jan-2019 11:30

TBH I don't really care what my score is unless I get denied credit for something which has yet to happen... Still curious how it all works and how the 3 credit reporting agencies share (or don't share) data. Do they not share at all, or is their matching of people not "fuzzy" enough so they haven't matched some things to me?

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MurrayM

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#2156947 9-Jan-2019 11:52

sidefx:

TBH I don't really care what my score is unless I get denied credit for something which has yet to happen...

I'm in the same boat. I've never borrowed money and so there's very little financial history available on me (apart from me never bouncing a payment and making a late payment).

I signed up for Credit Simplewhen they opened but recently asked them to close my account (there didn't seem to be any way that I could close it myself) as I didn't see any use for it in my circumstance and I didn't really want them having access to my (limited) financial data.

k1w1k1d

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#2156950 9-Jan-2019 11:56

They have access to your financial data whether or not you have signed up. Signing up just allows you to view it.

RAE1

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#2156967 9-Jan-2019 12:34

It looks like it's up to the credit providers who they share the info with and the credit reporting agencies don't share?

From: PAC NZ [mailto:pacnz@creditsimple.co.nz]
Sent: Friday, 7 December 2018 3:53 p.m.
To:
Subject: Re: My Credit File - Callplus Ltd / Slingshot

Hi

Thank you for contacting Credit Simple.

There are multiple bureaus in New Zealand recording Individual Credit History namely illion, Centrix & Equifax. This means that credit providers have an option of recording the information with either of the bureaus.

Due to this, the credit history received from Credit Simple may be incomplete as the scores are calculated based on the information recorded with illion.

Slingshot has not reported any information in relation to your repayment history to our bureau (illion) after 01/04/2017.

Regards,

Public Access Centre
New Zealand

666 Great South Road
Ellerslie,Auckland
New Zealand 1051

Email : pacnz@creditsimple.co.nz

sidefx

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#2156975 9-Jan-2019 12:50

RAE1:

It looks like it's up to the credit providers who they share the info with and the credit reporting agencies don't share?

Hi

Thank you for contacting Credit Simple.

There are multiple bureaus in New Zealand recording Individual Credit History namely illion, Centrix & Equifax. This means that credit providers have an option of recording the information with either of the bureaus.

Due to this, the credit history received from Credit Simple may be incomplete as the scores are calculated based on the information recorded with illion.

Slingshot has not reported any information in relation to your repayment history to our bureau (illion) after 01/04/2017.

Good to know! So I guess to get a real picture of someones credit history one would need to look at a report from each of the 3 agencies.

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#2157022 9-Jan-2019 13:51

k1w1k1d:

They have access to your financial data whether or not you have signed up. Signing up just allows you to view it.

Oh, right, I didn't realise CS was actually just Illion. But I was sick of getting emails from them saying something had changed in my credit history and then when I logged in I couldn't see any change.

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#2157973 11-Jan-2019 10:12

Anyone used CreditSimple? Not sure if I'd like yet another way to my credit history being breached, like the EquiFax fiasco

https://www.creditsimple.co.nz/

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#2157978 11-Jan-2019 10:16

MurrayM:

k1w1k1d:

They have access to your financial data whether or not you have signed up. Signing up just allows you to view it.

Oh, right, I didn't realise CS was actually just Illion. But I was sick of getting emails from them saying something had changed in my credit history and then when I logged in I couldn't see any change.

@MurrayM This happened yesterday to me! Got an email saying ' Credit score has changed ' login and it's 100% the same as last few weeks

John

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#2157989 11-Jan-2019 10:39

kingdragonfly: Anyone used CreditSimple? Not sure if I'd like yet another way to my credit history being breached, like the EquiFax fiasco

https://www.creditsimple.co.nz/

Plenty of people here are saying they've used CS...me included.

It's easy to use, but as others are now saying, the regular emails stating there's been change gets old quickly...especially when nothing has changed. And there seems no way to opt out.

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MurrayM

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#2158024 11-Jan-2019 11:20

Linux:

MurrayM:

k1w1k1d:

They have access to your financial data whether or not you have signed up. Signing up just allows you to view it.

Oh, right, I didn't realise CS was actually just Illion. But I was sick of getting emails from them saying something had changed in my credit history and then when I logged in I couldn't see any change.

@MurrayM This happened yesterday to me! Got an email saying ' Credit score has changed ' login and it's 100% the same as last few weeks

John

I just got sick of their emails and wanted out. I was a bit surprised that they didn't have any way for a user to close their account but they responded pretty quick when I sent them an email.

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