Experian: Credit scores to include rental payments for first time
https://www.bbc.co.uk/news/articles/c8jrw8e1w0lo
Posted by radiant_0wl
Experian: Credit scores to include rental payments for first time
https://www.bbc.co.uk/news/articles/c8jrw8e1w0lo
Posted by radiant_0wl
4 Comments
This is yet another example of how meaningless credit scores actually are. Eligibility for products isn’t changing but almost everyone is going to get a different rating. Will any lenders even care about rental payments unless they’re missed? And I bet letting agents will charge for renters to make use of the service
> The new system will see the maximum credit score someone can have go from 999 to 1250, and will also give more guidance on how borrowers can improve their creditworthiness.
Names of Experian’s different scoring bands have also been overhauled, with the categories “poor” and “very poor” eliminated, as well as the use of the colour red.
Utter. Woke. Nonsense.
Staying out of debt is one of the most important life skills anyone can have. A bad credit score is actually a blessing as it prevents you from using those horrible ‘buy now pay later’ schemes where you end up paying way more for stuff you don’t really need.
The only credit you need is a mortgage. Dump everything else and live debt-free for peace of mind and freedom.
Did you know in 1984, the Party gave everyone a score based on how profitable and exploitable each individual was? And if your score was too low, the Party could stop you from buying or renting a house rendering you homeless? Google UK credit score to learn more!