Failed credit check but I have excellent credit?

[stumid]

Hi all,

I've just tried to sign up for broadband and I was told I failed the credit check. Panicing that something had gone wrong with my credit I logged on to CheckMyFile and updated. My credit score is excellent. 4 or 5 stars on everything and high 800's to mid 900's on all the scoring systems. The Vodafone searches show up on my recent searches too, so I know they've checked.

Has anyone else had issues with credit checks when there's nothing wrong with your credit?

I was going to save myself £25 a month over BT

[BandOfBrothers]

Hi

Personally I use Experian to.check my file. 

Unfortunately having a good credit score does not guarantee that you can be accepted. Sometimes too many searches too close together or the file is too clean can go against a  check. 

Vodafone wouldn't divulge to you why you've not been accepted which I believe is due to data protection. 

I can only advise to leave it 90 days before applying again to let your Credit score recover. 

To add I'm with Bt and recently suggested to them that I'm going to leave and they gave me a discount of £17 per month to stay. 

[kids]

@stumid Often if you have a number of ongoing credit agreement this will deter some lenders from accepting you as they may feel that you are already committed and any further credit may be at risk.

Conversely, if you have very little credit history that can also go against you as lenders like to see you are able to manage credit as long as they think it is within your means.

Credit scores vary from agency to agency as they all use different scoring systems. For instance my Experian credit score show 98/100 but another agency shows 70/75 so the actual score is not the governing factor.

As Vodafone use Experian for the searches you may want to get a copy of your file from www.experian.co.uk which you can get online for £2 and see what that shows.

[stumid]

Thanks for the replies.

My Experien rating viewed via CheckMyFile is 886 / 1000 and I've not got a single late payment or other negative thing on my record. I have a mortgage and a small amount of credit, both which according to the accompanying info work in my favour. I've only had 2 other searches this year, the last being 4 months ago, before the Vodafone searches. It really makes no sense. I could understand if I were applying for a second mortgage, but I'm asking for a broadband subscription of £28 per month which is replacing another one of £52 per month.

So frustrating. There's obviously something weird going on. If I'm refused with my way above average credit score, I'm amazed that Vodafone have any customers at all!

Grrr

[BandOfBrothers]

All does sound on order. 

The forum is owned by Vodafone and read every post. The team maybe along to read your post and reply if they can help in anyway. 

[stumid]

I queried my problem with check my file. They have one of their people check the file too just in case I'm missing something. They said everything is in order too and don't see why it was turned down. Hmmm.

[hrym]

Other factors that may be taken into account are how long you've been at your present address and what other evidence of occupation there is, such as the electoral register.  Would any of that provide a clue?

Some credit agreements are more sensitive that others - those where the buyer can simply vanish with the goods, for instance.   However, property-based services are usually OK and I'd assume that having a mortgage is pretty good proof that you're the owner and planning to stay for some time.  I take it the mortgage is in your name - if not, that could set off alarm bells, I'd have thought.

[stumid]

I've only been there 11 months, but my previous address was also given. The mortgage is in my name etc. 

The only one thing that's left to check is the financial link to my wife. We did check her credit before the morthgage application a year ago and there was no problem wtih her credit either. I'm waiting on getting back into her CheckMyFile account this evening to find out if anything crazy has happened there.

[kids]

@stumid It is also worth checking if there are any bad debts registered against the address for previous occupiers.

That can also deter lenders despite it having nothing to do with you.

[stumid]

will do, thanks