www.iva.co.uk

My dad has checked his credit score and it basically says its 1 out of 5. Ok, hes retired has a pension as income. He does have 3 credit cards and a store a catalogue account but all are fully upto date and he has never missed a payment ever, never been bankrupt or had a ccj etc. If this is the case why does he have such a low credit score?

Basically he is on a fixed income and the three credit cards and account are liabilities. Although all up to date the agency doing the scoring also looks at the potential for future problems.

There are three agencies and they score differently -- the others might be better.

I do believe that your credit "score" is just the reference agencies interpretation of their own data.

In other words, the various bits of information on your credit report are supplied to creditors and they form their own opinion and score.

The agencies own score is just guidance as I understand it.

Hi

Given the info above you would expect the score to be higher

It could be that the balances are quite high v income level, this can affect a credit store

Regards

How much credit is available to him and what percentage of it has he used currently?

Paul

I did read about that credit used near to its limit can reduce the score on the Noddle website so this could be one reason?

The score is not a reflection of what the bank thinks about your credit worthiness.But I would not say it was nonsense
Three credit cards....I would go with less.

But you need a credit agency advisor from say experian to look into this.
Sign up for a free trial and ask them for advice.Outside that we can only give you tentative guesses which wouldn't get your score to 4 or 5.
Credit analytics....a very very complex area.

Cheers for all your comments people