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Veda is 0 - 1200 with the top band being 833 - 1200. Pretty much unheard of to score close to, or over, 1000.

Very interesting: The bank is working with Veda to help customers check their VedaScore and apply for a corresponding credit card or personal loan offer. People who fall into the top VedaScore band will be able to take out a personal loan at 3.9 per cent per annum for 36 months. That...

This will be my final response to this thread because I can't be stuffed arguing with someone who obviously has an axe to grind, won't see reason or logic and wants to play victim. Risk based pricing is happening already and has been for a long while. I'm sure Brady will correct me, but as far...

If you're wanting to inform the community then I think the majority of somersoft has the 'financial smarts' about them or are on their way to obtaining it. The community I was referred to was the 'live in the now' community where visiting a property investing forum would be the last thing on...

What's the point in getting all worked up about it? It's coming and there's nothing you can do to change it. Kudos for informing yourself but I think you're making a mountain out of a mole hill. If you want to borrow money from banks it's going to be a part of life, even though the process...

I remember reading somewhere it was 2 years as I was thinking the same thing myself. I'll see if I can find the link. "How far back will my RHI go? Information about any particular payment cannot be held for more than two years from the date it was due."

You'd be surprised. If you think about the cost of funds (ie the money it costs the bank to 'buy' the money to lend on), someone with a consistently high balance who pays interest but does not transact is not always as lucrative as someone who makes a lot of transactions but pays their card off...

To add to this, hopefully risk based pricing will be a result of the CCR. Lower rates for the less risky customers and higher rates as the probability of default goes up.

The lenders do it anyway, just not in an official form. Why do you think they ask for 3-6 months of bank and credit card statements? They're checking your payment behaviour for late payment fees, over limit fees, dishonour fees, direct debits that have bounced back etc etc. This is just a way of...