Why is my credit rating as low as 541 since moving?

paul82uk

Hi before i moved from my parents home my credit rating was 860 now after 6 months of living on my own it is now 541?

I have not taken out new credit
my debt is £3800 on credit card
and i have an overdraft which is always paid off in full.
All bills are paid on time
I have registered for the electoral roll in my current property when i moved in, however my credit reports still lists me as on the electoral roll for my parents home.

I would be grateful for any advice, is it simply because of the move or because i have new bills such as council tax water electricity phone etc... (all paid on time via direct debt).

Also how long does it usually to take to increase your score?

Thanks in advance
Paul

MFWannabe

hi
If you have got your score from one of the credit reference agencies then this score is absolutely meaningless. Lenders have there own criteria by which they decide if they will lend to you or not.
Check the electoral roll though; you really should be showing as on there for where you live if you've been living there for 6 months

beanielou

I imagine it might be because you are not showing on the electoral roll.