What your credit score really means

MancMatt77

Deleted_User said:

You can't, but there's no point in any case.  The scores don't reflect your credit worthiness and any changes are incidental.

Just focus on improving how your accounts and files look now.

If you have any concerns over what appears on your files, just post them here and someone will help explain your best actions.

Ok cheers. I've got no debts any more and any CCJ''s were cleared over a year ago and totally off my file (6 year rule). There's basically nothing outstanding on my file that should have an adverse affect on my credit score.

Says on my report  my score is impacted by not having any credit cards and for not owning a property.

But if you say there's no effect on my credit worthiness then suppose I shouldn't worry too much. 

Cheers 👍

Mr87

Not to encourage willy nilly spending but you could use the eligibility checker for a bad credit credit card, preferably one that gives you some cashback. Use it for ordinary everyday spending and pay off in full which demonstrates your ability to handle credit lines responsibly. 

bhoywonder

I have a special arrangement with Landmark mortgages whereby I have arrears but pay more than the contractual amount each month.  Landmark are reporting these as late payments, is this correct as payments are being made on time.  I have had these payments in place for a while and each month is the same, if I defaulted it would come of my file quicker than what is currently happening.  Also they are inconsistent as a period at the end of 2019 has been reported as on time.  Help would be appreciated on next steps.  Thanks and stay safe everyone.

reddyteddy

I have a couple of defaults on my credit file which are due to be removed by the end of this year (6 year rule), this will leave me with two accounts which show arrears from 3 years ago (5 months behind on a mortgage and 3 months behind on an energy supplier account) which were subsequently brought up to date and settled within a few months.

I don't now have any debt and only have my current account and a mobile phone monthly contract so no big outgoings but was thinking of taking on a car payment in the future, is there anything I can do to manage/enhance my credit rating now ? i.e. take out a bad credit card and keep it perfectly up to date?

Personal circumstances are that I now live with my partner and have no mortgage but the property isn't in my name so I am not down as a home owner although I am on the electoral roll.

Oh, no lectures please there was valid reasons for my previous circumstances getting out of control which I won't go into here.

[Deleted User]

Sensible use of any credit card is the easiest and cheapest way to build credit history.

Mocummings

Hi there, I follow my credit score with Clear score, which is a free site. My score has always been high, but this month it has gone down by 73 points and almost 150 points in the last 3 months. My account says nothing has changed, why has it gone so low?
Thanks in advance.

ju3t1n3

I have payment holidays on mortgage loans credit cards etc. But I figured out I would be better off if I got a load to put off all credit cards as the monthly payment would be a lot less. I got a good credit rating and had 90% chance on ClearScore and even on lenders website to get the loan I wanted. I applied and I got rejected. I discussed with the customer service of the lender and they said it is due to payment holidays. I cannot find any information to back this. Could someone help on this weird scenario please? 

D3xt3r5L4b

Mocummings said:

Hi there, I follow my credit score with Clear score, which is a free site. My score has always been high, but this month it has gone down by 73 points and almost 150 points in the last 3 months. My account says nothing has changed, why has it gone so low?
Thanks in advance.

Because it can change with anything and no one sees it but you. 

D3xt3r5L4b

ju3t1n3 said:

I have payment holidays on mortgage loans credit cards etc. But I figured out I would be better off if I got a load to put off all credit cards as the monthly payment would be a lot less. I got a good credit rating and had 90% chance on ClearScore and even on lenders website to get the loan I wanted. I applied and I got rejected. I discussed with the customer service of the lender and they said it is due to payment holidays. I cannot find any information to back this. Could someone help on this weird scenario please? 

did you mention the payment holidays first or did they?

ju3t1n3

I queried why they rejected and mentioned I had payment holidays and they said it was because of that