We see a lot of posts from people asking why Vodafone have declined credit when the person thinks that they have a perfect credit score.
As explained on the Experian website lenders look at your credit report but only use that as a guide as to whether they feel you are credit worthy for the purpose you are applying for.
This from the Experian website:
Because lenders have different past experiences and expectations, they take different factors into consideration and can even score the same factors differently. The same lender may even, for example, score a mortgage application differently to a credit card.
Credit scores change over time, as your circumstances change. For example, paying off a loan could result in a higher credit score, while missing several repayments could reduce it. It's always a good idea to check your credit report before applying for credit. You may spot areas you can improve upon.
There is no magic number
Just as lenders use their own formula when calculating a credit score, they also set different thresholds for accepting an application. These thresholds can vary according to the type of credit you want, so you could be accepted for an overdraft or mobile phone account but have a request for a car loan refused.
Lenders specialising in, for instance, lower-income customers may grant someone credit when another bank refuses.
You can get a copy of your credit report for £2
http://www.experian.co.uk/consumer/statutory-report.html
