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    • LSmith15
    • By LSmith15 18th May 17, 12:31 PM
    • 1Posts
    • 0Thanks
    Closing Accounts lowers your credit score?
    • #1
    • 18th May 17, 12:31 PM
    Closing Accounts lowers your credit score? 18th May 17 at 12:31 PM
    Hoping someone can help as I am really confused.

    Last month I had an excellent credit score and recently obtained a decision in principle for a mortgage. After checking my score today it seems as though my score has dropped by 135 points( taking me down to Fair) because my phone contract ended and also my account with British Gas ended. Surely this cant be correct?

    Please someone help !!!!!!!
Page 1
    • zx81
    • By zx81 18th May 17, 12:33 PM
    • 13,188 Posts
    • 13,502 Thanks
    • #2
    • 18th May 17, 12:33 PM
    • #2
    • 18th May 17, 12:33 PM
    Listen carefully to the following information.

    Your score means nothing, It moves with the wind, the tides and the colour of the sky. The one thing is does not measure is how lenders see you.

    Ignore it.

    Message ends.
  • National Debtline
    • #3
    • 18th May 17, 12:40 PM
    • #3
    • 18th May 17, 12:40 PM
    Hi LSmith15

    Welcome to MSE. I wouldn’t dwell too much on the score you can see on your credit reference file. Every lender will have their own credit scoring system, in the same way each of the 3 credit reference agencies create different scores.

    It could be worth checking the all the credit reference agencies to see what they show. You can check all 3 for free:

    Clearscore (Equifax)
    Noddle (Callcredit)
    MSE Credit Club (Experian)

    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • CakeCrusader
    • By CakeCrusader 18th May 17, 12:50 PM
    • 356 Posts
    • 161 Thanks
    • #4
    • 18th May 17, 12:50 PM
    • #4
    • 18th May 17, 12:50 PM
    Any change affects your 'credit score' (which is a fictional number anyway). I ignore this part of my credit report
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