Credit scores! ARGH!

AgentM_2

getting everything in order for a mortgage application (i'm terrified), and my score went up on experian and down on equifax!? HOW does that happened?!

Sinhanada

Because the scores mean nothing to anyone outside of the credit reference agencies.

Check your credit files for searches and any missed \ late payments etc

AgentM_2

None missed or late since my last update a month ago. I overpaid my credit card bill to reduce the outstanding amount from £200 to £100, and my score went down.

National_Debtline

Hello there,

As already mentioned by Sinhanada, your credit 'score' is simply a number allocated to you by the various credit reference agencies. Your file is useful to give you a general overview of your credit history but it wouldn't be able to guarantee whether or not you'll be accepted for a mortgage. Lenders use a wide set of rules and criteria when deciding on whether or not to lend to someone.

Here's a link to our credit referencing fact sheet.

Very best wishes,

David @ National Debtline.