ClearScore Credit Score
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Superscrooge wrote: »When you log in to your Clearscore account. Click on the 'Report' tab and scroll down to 'Factors on your report'. You should get a list of what Clearscore regard as 'positive' and 'negative' factors on your report.
But if everything is in order I wouldn't worry about the actual score. Mine varies by a ridiculous amount from one CRA to another making the numbers meaningless.
Clearscore have me in their 'Excellent' category, listing 9 positives including No missed payments. On the electoral roll. Low credit % utilisation etc.
However Experian have me in their 'Poor' category because of my high total credit card debt (all at 0% and stooged in high interest accounts).
Bank of Scotland recently took fright about my total credit card debt and reduced the credit limit on my BOS credit card. The following day I got a letter from Barclaycard increasing the credit limit on my Barclaycard!
Mine too; I have 2 Negative:
Your largest credit card limit is low (Credit Card is £450. It didn't stop me getting a mortgage)
Your total credit card % utilisation is relatively high (I used £375 on my card, though always paid in full by DD)
I will wait few more months and perhaps get a credit card from another provider and see if it helps my score. if I had payday loans, late payments somewhere, etc I would understand but I have nothing of that to justify a score way below national average (whatever that is).EU expat working in London0 -
always_sunny wrote: »I have nothing of that to justify a score way below national average (whatever that is).
Which is precisely why the scores should be ignored - they bear little to no resemblance to how lenders will view you.0 -
always_sunny wrote: »Mine too; I have 2 Negative:
Your largest credit card limit is low (Credit Card is £450. It didn't stop me getting a mortgage)
Your total credit card % utilisation is relatively high (I used £375 on my card, though always paid in full by DD)
I will wait few more months and perhaps get a credit card from another provider and see if it helps my score. if I had payday loans, late payments somewhere, etc I would understand but I have nothing of that to justify a score way below national average (whatever that is).
If ClearScore use highest credit card limit and credit utilisation as factors in determining 'your' credit score then that is their justification for your lower than average score. Whether that has any bearing on how a particular lender would view you is for them to judge.0 -
always_sunny wrote: »Mine too; I have 2 Negative:
Your largest credit card limit is low (Credit Card is £450. It didn't stop me getting a mortgage)
Your total credit card % utilisation is relatively high (I used £375 on my card, though always paid in full by DD)
I will wait few more months and perhaps get a credit card from another provider and see if it helps my score. if I had payday loans, late payments somewhere, etc I would understand but I have nothing of that to justify a score way below national average (whatever that is).
Similar issue with my CC dropping the "score" I used over 50% of my credit limit in the card in one month, and even though i paid it in full when the statement came it was classed as a negative, shopws how crap their "score" system is.
Another tip is add an extra 0 to your salary and it improves massively, deduct a 0 and it plummets. Who would have guessed eh.
Even though it doesnt even know if your employed or not.
If you want a better score tell it your income is higher than it really is.Censorship Reigns Supreme in Troll City...0 -
ClearScore 'score' falling further on the latest report.
1 negative factor added: 'You have made more than a few applications for credit in the past year'.
It's only picked up on 4 current account and 1 credit card applications so far, there's another 5 current accounts and 1 credit card to show yet. At least two of those current accounts don't have overdrafts though.0 -
That's how it is supposed to work. You had a balance of 50% so the score was calculated based on that balance. Once they get a report of the new balance they will use that instead.forgotmyname wrote: »I used over 50% of my credit limit in the card in one month, and even though i paid it in full when the statement came it was classed as a negative0
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