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Credit rating dropped 200 points in a month
100saving
Posts: 314 Forumite
Hello all,
I have just opening a 123 credit card about 2 months ago and switched banks to First Direct about a month ago and just opened the FlexDirect account for savings 2 weeks ago both without overdrafts.
my credit rating was very good never missed a payment, paid credit cards off in full ever since i opened them and save like a horse. but my credit rating is now around 820 (fair).
i still have my old current account that has been used every month for 5 years never using the overdraft as it does not have one. i only ever spend £100-£200 a month between both the credit cards one with a £1500 and the other with £1900 limit.
it says on flagged reasons for concern that my accounts look young and i have been applying for credit.
how long do you think it will take to be back in the green and hitting the 999 again?
I have just opening a 123 credit card about 2 months ago and switched banks to First Direct about a month ago and just opened the FlexDirect account for savings 2 weeks ago both without overdrafts.
my credit rating was very good never missed a payment, paid credit cards off in full ever since i opened them and save like a horse. but my credit rating is now around 820 (fair).
i still have my old current account that has been used every month for 5 years never using the overdraft as it does not have one. i only ever spend £100-£200 a month between both the credit cards one with a £1500 and the other with £1900 limit.
it says on flagged reasons for concern that my accounts look young and i have been applying for credit.
how long do you think it will take to be back in the green and hitting the 999 again?
Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)
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Comments
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You don't have a credit rating until a lender scores an application you make.
The 200 point change is in a credit reference agency score. Since they are not a lender you are not assessed by them the same as you would be by a lender. So it's nothing to be concerned about.
As long as you don't apply for credit in the next few months then lenders will likely not be concerned, unless you lose your job or have a significant change in circumstances of course.0 -
Hitting the 999 again LOL.0
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My score for your dropped two bob and a big apple!
It has as much meaning as the CRA's number.Thinking critically since 1996....0 -
So I should be worried about this?
I have been using the freeone month’s trials on all the credit rating sites to see how things are goingas I will be looking at buying somewhere in the next year or so.
So as long as I don’t applyfor credit its ok? So I can keep opening more current accounts to boost mysaving pot?Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
Where does it say that in this thread?
Don't keep applying for current accounts too. Some may not credit check you but some will depending on the facilities offered.
even if i don't apply for the overdraft when opening the accounts?Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
so Experian, Equifax or Noddle mean nothing?Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0
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