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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#2517479 5-Jul-2020 10:17

Linux:

Edit: @Delorean I did lower the credit limit of my BNZ credit card from $3000 to $1500 and it's in credit maybe that impacted my score?

BNZ do monthly reporting on credit cards so its highly likely.

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kingdragonfly

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#2517513 5-Jul-2020 11:46

kingdragonfly: I told them I was a 18 year old, just getting my first checking account.

Whoops I meant I was not a 18 year old, just getting my first checking account.

I understand that every time you apply for a credit card, your rating goes down. And I'm guessing now that I've been refused twice, my rating will be going down further.

I literally use my credit card constantly, and pay the balance usually the same week every time in its entirety.

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#2517547 5-Jul-2020 14:25

Linux:

@MichaelNZ This month 788 very good and a month before hand 852 excellent

Edit: Maybe Jim down the road purchased a car he could not actually afford so lets drop all the credit scores of those that live around him! High 5's around the credit score office!

Do credit scores take into account term deposits?

Edit: @Delorean I did lower the credit limit of my BNZ credit card from $3000 to $1500 and it's in credit maybe that impacted my score?

@linux - no the credit card decrease would not affect the the score. everyone's score has dropped since COVID -19 mine was around 850 and now is 664. I have raised this with illion and they have advised the new modelling is now playing catch up.

since our economy is now stabilising, the scores will start to correct in the coming months.

IMO - the best measure of your "credit score" is from Centrix. This is due to them having the lion share of positive data from all the providers. (around 54 contributors)

in answer to your previous question, star signs is more a "grouping" of birth dates rather than any weird science

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#2517549 5-Jul-2020 14:27

MichaelNZ:

Linux:

Edit: @Delorean I did lower the credit limit of my BNZ credit card from $3000 to $1500 and it's in credit maybe that impacted my score?

BNZ do monthly reporting on credit cards so its highly likely.

@michaelnz

BNZ has only recently gone live with Centrix and Equifax. illion still have BNZ in Private

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freitasm

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#2517560 5-Jul-2020 15:30

Just for the record, you can request your credit score from Centrix here and from Equifax here.

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kingdragonfly

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#2517579 5-Jul-2020 15:50

Centrix is a lot easier, less intrusive than Equifax.

For Equifax, they use double speak for opting out of marketing information. Checking the boxes on page 2 means you do not get added to spam list.

Off subject, I'm sure everyone knows, Equifax had a huge data breach in the US, and lost a class action lawsuit.

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#2517774 6-Jul-2020 02:50

freitasm:

Just for the record, you can request your credit score from Centrix here and from Equifax here.

Thanks for those links. Last time I looked at these two it seemed a lot more complicated (feel like Equifax required scanned certified id's for the free one).

freitasm

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#2517800 6-Jul-2020 09:09

Requested my report from Centrix yesterday and just received it. It shows a score that's 100 points higher than CreditSimple.

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kingdragonfly

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#2517883 6-Jul-2020 11:15

My credit rating is 775 / 1000 from Centrix.

Always pay my credit card debt within days (despite everyone's advice to leave it to last moment). No judgements, ...

I'm going to buy my next house in cash, no financing, but still disappointing

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#2517887 6-Jul-2020 11:26

914 here from Centrix. I’ve only been in the country for ~3yrs so they don’t have a lot of information to go on.

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#2517931 6-Jul-2020 14:02

Applied for my on Centrix and got it back within the hour, that was pretty quick. 813.

Listed an address though that I have never lived at so found that a bit strange.

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#2518314 7-Jul-2020 09:01

Just got my credit score from Centrix and it's 798

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#2518335 7-Jul-2020 09:54

Delorean:

@linux - no the credit card decrease would not affect the the score. everyone's score has dropped since COVID -19 mine was around 850 and now is 664. I have raised this with illion and they have advised the new modelling is now playing catch up.

since our economy is now stabilising, the scores will start to correct in the coming months.

IMO - the best measure of your "credit score" is from Centrix. This is due to them having the lion share of positive data from all the providers. (around 54 contributors)

in answer to your previous question, star signs is more a "grouping" of birth dates rather than any weird science

My credit simple report shows no ‘blips’ for Covid?