Secret world of the credit ratings unmasked – and why it could be Isa, Isa baby this year
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 23 February 2018
⏱️ 55 minutes
🧾️ Download transcript
Summary
Just how does the mythical and bizarre world of credit ratings really work? How can you improve your score and what does the figure even mean?
On this week's podcast, personal finance editor Rachel Rickard Straus and consumer affairs editor Lee Boyce join presenter Georgie Frost to discuss this and how one unknown fraud marker on a Cifas file left a reader with a 'do not employ' status when looking for job.
Rachel describes how she saw a tourist defrauded at a cash point and what it made her realise.
Lee explains why he is fed-up with car insurers taking motorists for a ride and how he beat a 67 per cent annual rise.
Whisper it: but there could be a cash Isa season this year. For years, banks and building societies scrambled to offer attractive rates – and 2018 could see the tax-free accounts finally en vogue once more.
Pensioner bonds – remember them? Well many are seeing the three-year versions of the accounts mature. But there could be a tax sting in the tail.
Transcript
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| 0:00.0 | Welcome to This Is Money Podcast in partnership with NS&I, your weekly roundup of the top |
| 0:06.2 | Personal Finance, Consumer and Business stories that editor Simon Lambert and his team have |
| 0:10.6 | been covering on their reward-winning website. |
| 0:13.1 | I'm your host, Georgie Frost, and joining me today is Personal Finance Editor Rachel |
| 0:17.3 | Rickard Strauss and Consumer Affairs Editor Lee Boyce. |
| 0:20.6 | And coming up, we delve into |
| 0:22.1 | the murky and mysterious world of credit ratings. What are they? How do they work and can one bad |
| 0:28.0 | mark really affect your employability? Also today, after a torrid few years for savers, we ask |
| 0:34.2 | if ICE season is back, explore why hundreds of thousands of pensioners could face a tax headache, and find out what Rachel learned from being a good Samaritan this weekend. |
| 0:45.2 | Plus, it's time to stop being so British as Lee teaches us the art of the haggle. |
| 0:50.6 | It could pay for your next holiday to the Royal Mint, Ikea land, all that and plenty more |
| 0:56.4 | coming up. Don't forget, you stay up to date with all the latest breaking money news. Just go to |
| 1:00.2 | this ismoney.com.uk or download the app. |
| 1:03.9 | This is Money. Brought to you in partnership with NS and I. Enjoy peace of mind with our new |
| 1:10.5 | guaranteed income bonds and guaranteed growth bonds. |
| 1:13.7 | But first, it's time to delve into the mysterious world of credit ratings. We will have one |
| 1:18.9 | and a good score is pretty useful when it comes to getting the best deals or being accepted at all |
| 1:23.7 | for anything like a mortgage, credit card or even a mobile phone contract. |
| 1:28.5 | Given how often we hear stories of readers losing out on homes because of mispayments |
| 1:33.1 | years ago, some wrong, and even job offers affected, maybe it's time to become better acquainted |
| 1:39.3 | with your credit rating and debunk a few myths while we're at it. |
| 1:45.8 | So firstly, a very warm welcome to you both. Rachel, give us a credit rating 101 if you could. What is it? Who decides what |
... |
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