Credit Rating Suddenly Changing?

edwardo27

Hello, My credit rating has clearly took a downward dive and I am not too sure why.


Around the age of 18-23 my credit rating wasn't the best. I had a bank account where I was over the limit mostly and a credit card that I maxed out and barely managed to pay back each month. My debts of around £3000 were causing me issues, so I took a high APR loan and paid the debts off.
I knew my credit rating must have improved when I was getting letters from my bank offering me a loan and I got accepted for finance on a newer car, I managed to have a look at my credit score then (my aunty who works at a bank sorted the finance) and my score was reasonably OK. A year later and no one will touch me. I noticed when applying for Argos store card to buy a new vacuum cleaner, a store card that a few years before I got accepted for but never finalised the application.

I moved into my own house with a partner. I also changed bank accounts. So I am assuming/hope it is something to do with that? I don't see why, they ask for your previous address so they must be able to see my credit score was OK before I moved, so what is the problem now? Of course no one will actually tell you why, so does anybody have any ideas or has the same problem?

edwardo27

Some more info. Even though I had no credit card credit before I moved into the house, I put a lot of the new stuff for the house on my credit card and maxed it out which I will now start paying back again.

Tixy

Are you on the electoral roll at the new house - and is this reflected on your credit files?

edwardo27

Tixy wrote: »

Are you on the electoral roll at the new house - and is this reflected on your credit files?

Yes I am, but I don't know if it is reflected in my file. I should find out.

Tixy

Would be worth checking as if not that would very likely impact on your ability to get credit.

Or it could just be because of the various changes in your circumstances being interpreted as less stable and higher risk (very quickly maxing out a card is likely to be seen as higher risk).

You say no one which touch you - what have you applied for and been declined?

The_Boss

edwardo27 wrote: »

Hello, My credit rating has clearly took a downward dive and I am not too sure why.

You don't have a credit rating or a credit score, so this is not possible. There was a thread by MSE Helen Saxon that explains on the front page of this board - did you miss it?