Credit Score Problem

tjharrop

Hi Everybody,

You're all more qualified to help me on this one so thought I'd ask.

A while back I had a problem with BMW Finance, long story, won't get in to it but it left me with a knackered credit score and many defaults on my account.

After not earning much for a while I got my credit card paid off which I was really happy with and started paying my phone bill on time every month. Eventually my credit score started to get better and last month when I checked it it was around 750 - Fair.

I've just checked again and it's gone down to 06 - Poor.

I'm really gutted because I thought I was doing well. Do any of you know what it could be? I've not missed any payments. I have a credit card that I spend a bit on each month then pay off when the bill comes (I've heard this is good but let me know if I'm wrong!) and I've also not applied for any new finance.

I'd be really grateful to hear any ideas you might have - I'm tearing my hair out!

Thanks in advance!

TJ

Tixy

Hi

Have you seen your full credit report (rather than the score), the full report if much more relevant.

Frustrating as it seems the score is known to fluctuate with no obvious reason which is why generally people on here recommend you save the cash and don't bother with the score.

If you had one agreement with BMW then that should only appear once on your file and should therefore just be the one default (each debt can only be defaulted once).