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Edwin Miles. Underwriting Manager

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Which credit reference agency do car finance lenders use?

I have a credit rating of 712 and was wondering if that was good enough? Also which credit refrence agency do you use because I have an ongoing personal dispute with Equifax and call credit and would like this sorted out before I apply. My scores with these two are between 500

Posted by Dutch on

Answer.

Hi Dutch (love the name by the way) - your score of 712 with Experian i presume seems fair so on this basis i'm confident we'd get you approved. However, the lenders that we have credit lines with use both a mixture of Experian and Equifax i'm afraid. Have you applied for car finance yet online? Are you on the electoral roll and do you have a deposit as this would improve your chances of being approved. It may be best to get the dispute settled before you apply but i suppose it all comes down to how desperate you are as we could well still get you approved today. Have a great day. Edwin

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Question.

I am just waiting on the two credit reference agencies in question to amend my reports as they have admitted their mistake and have told me it could take upto a month to show on my report. I have my car worth about £800-1000 I could use as a deposit. I also have a couple defaults which are well under £500 and the most recent is 2 years old. I am also on the electoral roll at my current address and have been for over a year.

Posted by Dutch on

Answer.

Hi Dutch, great news - please apply with us when the credit reference agencies have updated their profiles. Then provide me with your reference number and we'll get you into a new car - great news on the deposit to as that'll strengthen your application. Have a good day. Edwin

Posted by on

Question.

Hello, I'm confused by my credit scoring as it varies so much. On one site, it lists my CALLCREDIT score as 720 but on the CALLCREDIT website it is much lower. This same website lists my Equifax at 680 but on Equifax's own website its listed as "fair" at around 380. The Experian one is most confusing, 860 on one website and 320 on another. With these figures, what are my chances of securing credit?

Posted by Simon C on

Answer.

Hi Simon, what is the site you are using that's giving you your credit score from all 3 credit reference agencies you mention. I'd only believe your credit score from the official suppliers website and nowhere else. We can help people with low credit scores obtain car finance so please apply when you feel ready. Edwin

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