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  • FIRST POST
    • always_sunny
    • By always_sunny 16th Oct 16, 10:38 AM
    • 1,733Posts
    • 2,039Thanks
    always_sunny
    ClearScore Credit Score
    • #1
    • 16th Oct 16, 10:38 AM
    ClearScore Credit Score 16th Oct 16 at 10:38 AM
    A year ago I decided to open a ClearScore account to monitor my credit for me and in the beginning it seemed fine with a good credit score (whatever that means).

    6 months ago or so I applied for a mortgage, got it approved, moved into the property and ever since my credit score has been tumbling down without me really changing any of my habits.
    It's now on the 200's level.

    All my bills are always paid in full by direct debit (ever since ever); I have no arrears or CCJ, etc nothing of nothing same as in the beginning.
    My credit card seems to be low credit, I only have £450 limit which is fine for my use.

    Does this score has any value at all?
    here on an EU passport.
Page 1
    • zx81
    • By zx81 16th Oct 16, 10:48 AM
    • 9,371 Posts
    • 9,208 Thanks
    zx81
    • #2
    • 16th Oct 16, 10:48 AM
    • #2
    • 16th Oct 16, 10:48 AM
    No. None whatsoever.

    Ignore it.
    • TheShape
    • By TheShape 16th Oct 16, 11:03 AM
    • 447 Posts
    • 225 Thanks
    TheShape
    • #3
    • 16th Oct 16, 11:03 AM
    • #3
    • 16th Oct 16, 11:03 AM
    A year ago I decided to open a ClearScore account to monitor my credit for me and in the beginning it seemed fine with a good credit score (whatever that means).

    6 months ago or so I applied for a mortgage, got it approved, moved into the property and ever since my credit score has been tumbling down without me really changing any of my habits.
    It's now on the 200's level.

    All my bills are always paid in full by direct debit (ever since ever); I have no arrears or CCJ, etc nothing of nothing same as in the beginning.
    My credit card seems to be low credit, I only have £450 limit which is fine for my use.

    Does this score has any value at all?
    Originally posted by always_sunny
    My ClearScore score has taken a small dip lately, probably due to the opening of many new current accounts and credit cards. There is a section somewhere that lists the positives and negatives that have affected the score. Perhaps new availability of a large amount of credit hits the score for a while?
    • TheShape
    • By TheShape 16th Oct 16, 11:08 AM
    • 447 Posts
    • 225 Thanks
    TheShape
    • #4
    • 16th Oct 16, 11:08 AM
    • #4
    • 16th Oct 16, 11:08 AM
    No. None whatsoever.

    Ignore it.
    Originally posted by zx81
    Is there absolutely no value in checking your ClearScore 'score'?

    If your 'score' takes a tumble is it not worth checking your Experian/Equifax/Callcredit reports incase there is something amiss.

    I get the statutory £2 reports every 18 months or so anyway.
    • YorkshireBoy
    • By YorkshireBoy 16th Oct 16, 11:18 AM
    • 28,327 Posts
    • 16,134 Thanks
    YorkshireBoy
    • #5
    • 16th Oct 16, 11:18 AM
    • #5
    • 16th Oct 16, 11:18 AM
    Two of the biggest impacts on credit rating, so presumably also the scores the CRAs produce, are debt and 'stability'.

    Your circumstances have changed dramatically over the last few months. Firstly, you've taken on massive debt...and secondly you've moved address. Are you on the ER at your new house? By that, I mean is it reported by the CRAs?
    • always_sunny
    • By always_sunny 16th Oct 16, 5:28 PM
    • 1,733 Posts
    • 2,039 Thanks
    always_sunny
    • #6
    • 16th Oct 16, 5:28 PM
    • #6
    • 16th Oct 16, 5:28 PM
    Two of the biggest impacts on credit rating, so presumably also the scores the CRAs produce, are debt and 'stability'.

    Your circumstances have changed dramatically over the last few months. Firstly, you've taken on massive debt...and secondly you've moved address. Are you on the ER at your new house? By that, I mean is it reported by the CRAs?
    Originally posted by YorkshireBoy
    Yes I am all updated and ER. The debt is not so massive but it's okay. It's seems that the ClearScore score is randomly going down with on apparent negatives, beside my credit card being low.

    I don't pay too much attention to it, I have already obtained a mortgage despite my short residence in the UK. Maybe in 6 or 8 months after I am registered at this address things will look brighter. They already do in reality, just one of those 'computer says no' event.
    here on an EU passport.
    • CHRISSYG
    • By CHRISSYG 16th Oct 16, 5:37 PM
    • 5,473 Posts
    • 15,475 Thanks
    CHRISSYG
    • #7
    • 16th Oct 16, 5:37 PM
    • #7
    • 16th Oct 16, 5:37 PM
    Isn't clearscore run by Experian ? I think theres some reference o it on the site.
    Although late and missed payments have an effect clearscore seems to focus on how much credit you have and how much of that credit you are using.
    Mine started off in the low 200's but ive paid off a lot of debt and its now 450.
    • DCFC79
    • By DCFC79 16th Oct 16, 5:42 PM
    • 27,768 Posts
    • 17,532 Thanks
    DCFC79
    • #8
    • 16th Oct 16, 5:42 PM
    • #8
    • 16th Oct 16, 5:42 PM
    Isn't clearscore run by Experian ? I think theres some reference o it on the site.
    Although late and missed payments have an effect clearscore seems to focus on how much credit you have and how much of that credit you are using.
    Mine started off in the low 200's but ive paid off a lot of debt and its now 450.
    Originally posted by CHRISSYG
    Do you mean Equifax ?
    Je Suis Charlie
    • Superscrooge
    • By Superscrooge 16th Oct 16, 11:03 PM
    • 571 Posts
    • 395 Thanks
    Superscrooge
    • #9
    • 16th Oct 16, 11:03 PM
    • #9
    • 16th Oct 16, 11:03 PM
    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!
  • jamesd
    6 months ago or so I applied for a mortgage, got it approved, moved into the property and ever since my credit score has been tumbling down without me really changing any of my habits.
    It's now on the 200's level.
    Originally posted by always_sunny
    A large amount of new credit recently and a change of address recently are both factors that would be expected to produce a significant drop in score. While I'd expect this to mostly be over by now if it's still dropping instead of starting to recover after six months it'd be more of a possible issue than just what's routinely expected.
    • Dobbibill
    • By Dobbibill 17th Oct 16, 7:13 AM
    • 1,725 Posts
    • 2,861 Thanks
    Dobbibill
    Is there absolutely no value in checking your ClearScore 'score'?

    If your 'score' takes a tumble is it not worth checking your Experian/Equifax/Callcredit reports incase there is something amiss.

    I get the statutory £2 reports every 18 months or so anyway.
    Originally posted by TheShape
    Wouldn't be checking the score with Clearscore, definitely checking the report though and given that it's free maybe doing that and Noddle every month and just paying for Experian every few months.
    • always_sunny
    • By always_sunny 17th Oct 16, 7:54 AM
    • 1,733 Posts
    • 2,039 Thanks
    always_sunny
    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!
    Originally posted by Superscrooge
    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).
    here on an EU passport.
    • zx81
    • By zx81 17th Oct 16, 8:01 AM
    • 9,371 Posts
    • 9,208 Thanks
    zx81
    I have nothing of that to justify a score way below national average (whatever that is).
    Originally posted by always_sunny
    Which is precisely why the scores should be ignored - they bear little to no resemblance to how lenders will view you.
    • TheShape
    • By TheShape 17th Oct 16, 11:14 AM
    • 447 Posts
    • 225 Thanks
    TheShape
    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).
    Originally posted by always_sunny
    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.
    • forgotmyname
    • By forgotmyname 18th Oct 16, 12:39 AM
    • 23,318 Posts
    • 9,193 Thanks
    forgotmyname
    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).
    Originally posted by always_sunny
    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.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • TheShape
    • By TheShape 19th Oct 16, 2:01 AM
    • 447 Posts
    • 225 Thanks
    TheShape
    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.
  • jamesd
    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
    Originally posted by forgotmyname
    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.
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