Leave a comment below and let us know what your score is - no judgement, this is a safe space 😊.
@bluebrakes
9 ай бұрын
One to watch out for is car accidents and if the insurance offer you a hire car. Unlike a courtesy car, a hire car is in your name. Any charges are then claimed off the third party’s insurance. The problem is that if the third party refuses to pay it you are on the hook for all charges, and hire car companies charge hundreds a day. This is something that has caught a lot of people during the covid lockdown, as there were parts shortages. If it goes to court you could end up with a CCJ through no fault of your own. So yeah, a car accident could affect your job, credit score and so on.
@AndrasRemenyiACCA
10 ай бұрын
It is mad. It took me over a year with no consumer debt. Started taking out interest free credits. Additional credit cards and unnecessary purchases and paid them perfectly. Now almost all closed down. And it pushed all to max 999 and top 1%. One mistake and you are penalised. Be careful out there. . And remember, if you are not planning to use credit in the near future it does not matter what it is. If you planning to take out a mortgage or by a car etc on finance that’s the only time it matters.
@LawrenceTimme
7 ай бұрын
31:02 I've never had a credit card or taken out a loan. The only things on my reports are phone bill and current account. Yet my credit score is in the bottom to middle of "good" depending on which credit rating I go to.
@myafrosheen
10 ай бұрын
While your student loan doesnt appear on the credit report it will appear as a deduction on your payslips and will be factored into your affordability since your monthly net income will be used
@123sumom
2 ай бұрын
Very helpful stuff thanks
@davidstuart3795
10 ай бұрын
756 - happy with that...... Although its clearly not everything as i'm only 2 years into this financial "enlightenment" and don't have a S&S ISA stacked to the brim and an emergency fund big enough to quit my day job ( ahem, Damo )
@johnsealy4957
9 ай бұрын
Important information about something we mere plebes know very little about. Great show guys.
@PlatMarina
10 ай бұрын
Credit records impact tenant references, with ccj or any kind of insolvency it’s almost impossible to find a property to rent
@rakk7049
10 ай бұрын
Damn that internet really must be slow. 'Lets wait for that to load' whilst its nice and sunny outside. Camera cuts to 'ok that's it loaded now' with the daylight now gone, heavy downpour outside. How many hours was that, tough times all around hahah. Love these podcasts guys. Really great stuff alongside Damien Talks Money's videos too
@jamiefarrell4425
10 ай бұрын
Very proud of my 1000!
@MATTPARKER-z1u
10 ай бұрын
Love how you are addressing so many financial areas Team❤we have a high rating, but we had an identity fraud incident on my partners account..I hate how complex they make this stuff. Like lots of finance, they seem to want it to be a Dark Art - not helpful - no wonder people don't engage.
@MakingMoneyPodcast
10 ай бұрын
Thanks so much - so many areas that still need demystifying!
@mkdons22
9 ай бұрын
I got 1100 they gave me a bonus 100 for being so awesome so look at me everyone i am so amazing and totally not a big show off na na nanana
@joannaj4038
10 ай бұрын
1000! I'm (positively) shocked! :D On a serious note, it would be very helpful for a lot of people to know exactly how the scores are being calculated. Banks have a lot of information about us (understandably); as their clients and parties to numerous agreements we should not be kept in the dark as to conditions on what these are being offered to us.
@MakingMoneyPodcast
10 ай бұрын
Wow, a welcome shock for sure!
@colinturner-sy6fh
10 ай бұрын
Same here (1000/1000) - I thought the ClearScore site wasn't working at first 😀
@paulrem
10 ай бұрын
another 1000 here 👍
@PianoCallum
9 ай бұрын
Used to work in underwriting for a large bank and not even we were told the conditions for system scoring on applications. The reason (rightly or wrongly) is that the more clarity there is around lending decisions the easier it is to defraud the bank i.e. if I can present this exact figure the decision is yes. By keeping it slightly obscure they attempt to prevent people from working the system.
@MATIvmr
10 ай бұрын
841. But it’s complete bollocks, I’ve been paying everything on time, this month I’m paying off my credit card completely and no debt left except car payments. My score haven’t moved up at all, it went down though !! Bollocks
@financebykilolu
10 ай бұрын
MOST people do not know this. Interestingly, having £0 credit balances reported month after month tends to bring down your score because it appears as though you are not really using credit and therefore money cant be made off of you!
@bernardo.daSilva
10 ай бұрын
764 for me. Was really hoping to beat Damo there ha ha ha. The benchmark
@SianJenkins-pj5ud
10 ай бұрын
My credit score is 867 with clear score, 912 with Experian and 644 with credit karma? I don’t understand why?
@financebykilolu
10 ай бұрын
All 3 scores are ranked independently so they will always be different. Each agency ranks each factor differently... as long as you know you are managing credit well, the numbers you are given is not that important
@kaiserphoenix01
10 ай бұрын
978!
@daliaa5294
10 ай бұрын
909 😊
@dova-oj1kt
Ай бұрын
This is horrible. I live in Sweden and not having a credit card does not lower your credit rating. It might in fact improve it. I don’t know.
@iangreasby
10 ай бұрын
One small correction about card providers not making money off customers who pay the balance off in full each month - they still make money from the merchant fees when they use the card
@SkeletonDrums1
10 ай бұрын
999 I've maxed it out!
@MakingMoneyPodcast
10 ай бұрын
Great work 😀
@SkeletonDrums1
10 ай бұрын
@@MakingMoneyPodcast Thanks lads, great video and I agree with all your points you made here. On top of the obvious steps you can take like paying bills on time, clearing down credit cards on a monthly basis and keeping up with mortgage or rent. The more subtle ones like registering to vote and keeping address details up to date are valuable quick wins, if you are trying to improve your score. Also age is a factor I'm sure, the longer your track record the more accurate the score should be.
@Hustlémon
10 ай бұрын
I got 666 😶 It's time to wash my credit cards in holy water 😆😅
@susanlewis1953
10 ай бұрын
1000 on clear score 🎉
@Clarioner1
10 ай бұрын
Your credit score definitely affects your ability to get a mobile phone contract - especially a fix term contract and with a "free" handset.
@Goady1000
10 ай бұрын
I did have 999 on experie two years ago now it's 963
@imbarmstrong
10 ай бұрын
Hey, who you calling a Glorified Call Centre? 😂
@MakingMoneyPodcast
10 ай бұрын
😬
@milaskilathelab
10 ай бұрын
773 😎😁
@MakingMoneyPodcast
10 ай бұрын
Nice 😎
@somethingfunny6867
10 ай бұрын
999 is easy. basic mortgage and 2cc never missed a payment.
@grahammarsh440
10 ай бұрын
777 - found this out, then won £30 on a £2 scratchcard, Happy Days!
@Citi-zen86
10 ай бұрын
Lets hope no one from Manchester City Council watches the show.......😂
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