Can you explain what a credit history is?

Deal Score0

I just recieved my report from CreditExpert.co.uk and it says the following:

Thank you for purchasing your Experian Credit Score!

A score between 960 and 999 puts you into the Excellent category. This is the score that the rest of the population would like to reach.

It indicates that you have always made payments on time and probably have no arrears. This type of credit history is an asset that can help you to the deals you want and means you should pay lower interest rates than people with a poorer credit status.

To maintain your excellent rating, you should check your credit report regularly to make sure that it remains accurate and up to date – you can see it at the Credit report centre.

Your Experian Credit Score changes as your circumstances change. Generally a score more than three months old no longer represents your current position, so it is a good idea to order it regularly if you want to monitor your credit status.
What your score means to lenders

Your Risk Profile

Your score of 999 puts you into the Excellent category

Your score is above average – 71% of people have a score lower than Excellent

View the factors affecting my score

Your Experian Credit Score was

999
On January 27, 2009

The risk you present to a lender

Credit scores are designed to help lenders to assess the risk that you will not repay what you owe them, reliably and promptly, by comparing your situation and credit history with databases showing how other people have managed their repayments in the past.

This score suggests you are a very low risk borrower – most lenders would expect very few people in this category to experience serious problems with repaying credit.

Factors that are having a negative effect on your score

* There are no negative factors currently affecting your score.

Factors that are having a positive effect on your score

* You make all your repayments on time and in full – no accounts have been paid late in the past six months
* You are on the electoral roll (registered to vote) at your current address
* The outstanding balance on your credit accounts (excluding your mortgage) is low
* You don’t have any county court judgments and you have not been declared bankrupt in the last six years

Can you tell me, is this any good?

5 Comments
  1. Reply
    Cool Hal
    April 22, 2012 at 6:39 am

    It’s in plain English – what dont you understand?

    If you want to borrow money you and it is not a silly amount you wont have many problems.

  2. Reply
    Ollie
    April 22, 2012 at 7:15 am

    Hi,like they have stated you will find it easy to get credit.So it is very good but i would not keep paying them for a credit report.

  3. Reply
    cammianne3
    April 22, 2012 at 7:54 am

    This is an excellent rating (as stated in the rating, LOL)! Most people would love to have a rating this good. This means that you should have no problem should you choose to get a mortgage for a house, buy a car, etc. You would receive favorable rates because your credit is so good. I personally would love to have a rating this good. Keep up the good work.

  4. Reply
    WelshLad
    April 22, 2012 at 8:13 am
  5. Reply
    wh
    April 22, 2012 at 8:56 am

    odd, even suze orman said that a credit score NEVER goes above 950….and you would have to be a millionaire with a completely not normal debt ratio…to get to 950.

    so, how in the world did you get 999!!!!

    i would think its a mistake or your reading something wrong. i’ve never heard of anyone with that number and like i said even suze orman said its impossible (essentially).

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