Credit score dropped!!!

callmechar

I am with noddle and I have no credit except virgin media and mobile. I had a credit card, which I cancelled. My score was 5/5 now its 3/5! Why on earth could it have dropped so much in last month?! Only thing I have done is cancel credit card

callmechar

Well just did the PO decision in principle which gave us the thumbs up. Do not understand why the score has dropped so dramatically though, that is crazy

However now have 3 AIPs on record from past 2 months

UrWntr

callmechar wrote: »

Well just did the PO decision in principle which gave us the thumbs up. Do not understand why the score has dropped so dramatically though, that is crazy

However now have 3 AIPs on record from past 2 months

Credit scores mean nothing.

If you are paying for this score I would strongly recommend canceling.

callmechar

Anyone else can help? Am really stressed

Now have 3 DIPS (2 from Skipton, from Sept and Oct and now one from PO from last night)

Thrugelmir

Why are you constantly applying for DIPS?

callmechar

Thrugelmir wrote: »

Why are you constantly applying for DIPS?

1st one was when we started looking for properties with Skipton, 2nd one the VERY push EA mortgage adviser talked me into

No longer want Skipton as now got more deposit and so got the PO one yesterday...I wanted to know now credit score dropped (so dramatically) can I get a mortgage with fiance

Could applying for these have been an issue? I am so stressed out

UrWntr

Why exactly are you stressing?

I've already told you that credit scores are meaningless. Each lender will have their own method of assessing your credit file for suitability. This is likely to be very different to the system the CRA is using to present your score to you. Therefore, your "score" dropping from "5/5" to "3/5" is meaningless. If you paid for the score, you fell for the scam.

If your lender does decide that there have been too many searches on your file and declines you, what can you do about it? Its done. Move on. Control the controllables.

_Andy_

callmechar wrote: »

I am with noddle and I have no credit except virgin media and mobile. I had a credit card, which I cancelled. My score was 5/5 now its 3/5! Why on earth could it have dropped so much in last month?! Only thing I have done is cancel credit card

It's a meaningless figure, quit stressing about it