Anyone know anything about credit reports?

[Anothermnuser]

Applying for a pl which was approved but with higher interest rate than advertised apr. Checked credit score with Experian and Call Credit. Both green - just. Then paid £30 to see in-depth report, how to improve rating etc and the only area hughlighted is electoral register which says we moved into our current home 5 years after we did. We can, by the looks of things, get this amended but will rectifying this make any real difference?

Thanks!

You'd be surprised how much impact the electoral roll can have on your credit report - apparently to do with proving you are who you say you are (although you just need to fill
In a form to get on electoral roll so always seems a bit stupid to me!!)

It could just be how that lender operates. I applied for a loan and got offered an APR so high it wasn't worth taking, so I then applied to my own bank and got the very low APR I was hoping for.

BTW, there's no need to pay anything for information about your credit report. Join the Moneysavingexpert credit club for free.

Thank you both. It sounds like it will be well worth trying to rectify the electoral information. Barbara, we tried with one lender, it was approved but ridiculously high. So tried today with lender we have an existing loan with but with only 1 payment outstanding. Again, approved with increased rate though nowhere near the other lender. The strange thing is that when we got existing loan, four years ago, the date was as it is now.

I wish it was more transparent!!

Can also be to do with affordability based in the info you submitted, not just credit score

Remember to check your Equifax report too (use Clearscore) Different providers report to / get information from different companies.

And I don't think amending electoral roll info will change much of anything - the important thing is that you are on it.

Good info here: www.reddit.com/r/UKPersonalFinance/wiki/creditrating