Credit scores and moving around a lot

[Pearls18]

DH and I finally got around to checking our credit scores last night. 7 months ago I tried to apply for a Next account for the second time (a year after the first) purely for the VIP sale invites, I have also previously been declined a Tesco credit card which I wanted only for the points lol. Our credit scores were "Good" every area was "Excellent" except our electoral roll which was as low as "fair" purely because we move around a lot, my husband is military, we moved last year, moving this year and could be moving as soon as next year or the one after- Equifax said that grantors prefer you to be at the same address for 2 years, preferably 3-4.

Now it's not a big deal at the moment, we don't need credit, we don't have any debt, I have a credit card I use purely for online security and pay every month so am happy I'm doing enough to keep my credit score "active" and only wanted credit for the perks such as loyalty points and sale invites so it's not important but I'm just concerned about when we get ready to apply for a mortgage, I don't know if we'll ever be somewhere for 3 years before we can apply does that mean our credit score can never been "excellent" won't that a)jeopardise getting a mortgage these days or at least b) not give us the best rates. It annoys me we are just as reliable and good candidates as anyone else but are going to be disadvantaged by my husband's respectable job?! Is there a way around this?

 

[R_x]

We haven't been anywhere for long and had no problems. I have a next account and we are looking into buying and have been accepted for a mortgage.
Oh and you only get invited to next VIP slots of you spend loads on your account and get the catalogue xx

 

[R_x]

Saying that we did have a problem getting a phone contract so we just went somewhere else for it. There loss

 

[C_baby]

I was under the impression that the electoral roll highest standard rating is Fair on equifax credit scores. As long as you're on the electoral roll you get the same fair as everyone else. I'm pretty sure i read that on there somewhere?

I don't understand why tesco would turn you down for credit based on what you have said, was it at a time you were not entered onto the electoral register because of a move, because it does make a huge difference to your score. You sound like you would be offered a mortgage based on you first post.

 

[Pearls18]

I was under the impression that the electoral roll highest standard rating is Fair on equifax credit scores. As long as you're on the electoral roll you get the same fair as everyone else. I'm pretty sure i read that on there somewhere?

I don't understand why tesco would turn you down for credit based on what you have said, was it at a time you were not entered onto the electoral register because of a move, because it does make a huge difference to your score. You sound like you would be offered a mortgage based on you first post.

The Tesco one was 2 years ago and we would have only been in that home a few months by that point so maybe that was why, I've been too scared to try again as I don't like all the rejected searches! No equifax is colour coded and we had green for everything and only yellow for electoral roll, and it explained why it was so low so im assuming it can be higher or they would have just said everyone got fair I would have thought? I'm going to do experian next though to see how that differs? Thank you though you've made me feel better!

 

[Mummy Bean]

when mortgage provider do the equifax they get the full report that you saw...so they will see that any down grade is due to your OH job and take it into consideration. most decision are based on a fact find anyway (where they take all your incoming/outgoing to see what you can afford). just think they give mortgage to young first time buyers who prob been at uni and moved around. Just keep doing what your doing, having a credit card which paid in full. possibly buy some thing small on finance (like a tv ect) as will help build your rating.

look on money saving expert...brill website with lots of tips on how to keep ur ratings good.

 

[suzib76]

what the credit reference agencys rate/score/class you as isnt necessarily what lenders will do

each lender has different criteria, the credit reference agency opinion doesnt come into it as pp said they will see that many moves are down to your hubbys job

 

[emsiee]

In the last 5 years we have moved house 5 times. Never had any problems with credit and got a mortgage last December