Credit Score is high but cannot get a loan or Rental Property?

[Karatema]

Can someone help as I am at a loss. My credit score is over 900 but I keep being turned down for loans, I'd like a newer car and I can't move as Managing Agents say my credit is bad! I don't understand this at all. Can someone enlighten me please so I can try to rectify this?

Are you registered on the electoral?

A credit score means nothing. Applying for lots of credit damages your credit file as you appear desperate, you need to look at your actual credit report. Noddle or Clear Score are free and look at your history for the last six years, defaults, late payments and the amount of debt you have in relation to the amount of credit offered. For instance you may have a balance of £3000 on your credit card, if the limit is £10k that's okay but it the limit is £3k that doesn't look okay.

Thank you both.

No I'm not on the local electoral role as only recently moved to the area (in lodgings at the moment).

Monkey - I will check my credit card limit as I know I requested a reasonable limit because, as I pay it off, I didn't see the point of it being higher. I will also look at your other suggestions.

Not being on the electoral can affect some lenders decisions. You can register online now - it could make all the difference.

Having recently moved can affect your score too, unhelpfully.

Thanks Cat and Messy your advice is appreciated

Again, your score is meaningless. Lenders don’t see it.

What’s your salary? Existing debts? Any late or missed payments in the last 6 years?

How much are you looking to borrow?

And yes to the advice about getting on the electoral role.

Sometimes it is worth buying things on credit even if you can afford to pay outright, just to prove you can manage repayments. Obviously go for interest free, not Brighthouse or one of those exploiters of the poor.

Thank you all

Not being on the electoral register will almost certainly stop you getting a loan or hp for a car.