why does your address affect your credit scoring as its not ur falut past people have had bad credit there?

Answer 1

they usually ask for your previous addresses in last three years tho so that cancels out any previous owner having a bad credit having an adverse effect on your rating.

Answer 2

It doesn't, a credit rating is a personal score, not connected to your address. I know that it used to be but this changed some time ago. It does not matter if people who have lived at your address before have had bad credit, however it may have an effect if someone in your family has bad credit with the company you are applying to, as they may look at other accounts held with them at your address.

Answer 3

to all the people who put it doesnt - YOU ARE WRONG. I moved house in the middle of a credit card application and had to re-apply even though I was approved at the first address because i moved before i accepted the offer.

even though i was the same person, with the same credit history and the same previous addresses my new address might have changed my credit rating so i had to re-apply. i dunno maybe the house was applying for the card - not me

of course i then couldnt prove i lived at the new address as i had no bills etc coming to that address in my name - oh did i laugh - NOT

Answer 4

This only affects you if the person who had previous bad credit is finacially tied to you (spouse etc)
You can write to credit companies & have any prior resident removed from your address list so your credit scoring will then just be based on you.
There is usually a small fee for this.

Answer 5

No, it is going to in basic terms cut back the sector of employers you could artwork for. some employers, extremely the banks and police (sure, the police use accountants too) insist on sparkling credit. different employers would be greater fascinated interior the common of your training and training. i in my view comprehend an accountant who set up his very own (effective) corporation 3 years in the past who earlier that had certainly undesirable credit, even with being an accountant for almost 15 years!

Answer 6

They always ask for pevious addresses if not at said address
for 3 to 5 years depends on the company.

Answer 7

Write to the credit rating agency and ask for a copy of the rating applicable to you. If there is an untrue rating tell them and after checks they will remove your address from that bad rating.

Answer 8

you should go to annualcreditreport.com - It shouldn't affect your personal credit because they look it up through your social # and it matches up with the dates that you live in a place - but if you/your roommate is constantly late on payments, then I would see why it'd affect your score, but you really should find out asap what is affecting your credit score - you'd be surprised how much credit ties into your life.

Answer 9

It's mostley used to verify addresses you lived in the past and to see how many times you moved in a specific time...stability.

Answer 10

Its not your specific address, it all goes to your demographic location. If say the southern part of your town is a high crime area, and your development happens to be within that demographic boundry, they consider you a higher risk.