Equifax credit score dropped 27 points after changing address - is this normal?

hilbil21

I used to have incredibly bad credit. Over the past few years I have done everything to better my score and it rose from "poor" on Equifax records to "good" which I was happy with.

I recently changed my address with them (was at previous address for over 3 years, and my score dropped by 27 points ... And to "fair".

Everything else is absolutely the same as it was (if not better!).

Surely moving house when you have been at a previous address for years doesn't make that much of a difference?

Advice anyone.....

Xxx

hilbil21

I'm also on electoral roll at new address as I was at old address

DCFC79

Oh dear god, your score dropping by 27 points means absolutely naff all, it has no relevance, lenders don't see your score.

MrSilk

Wouldn't take note of any numeral score.

My noddle is 1 out of 5! and I've just been accepted for two American Express charge and credit cards... What does that say?

Just keep doing what you're doing

MEM62

On the basis that your credit score is a randomly made up number I wouldn't worry about it. There is no 'normal'. Just run your finances correctly and you'll be fine.

Malmo

No one in the UK has a single or central "score". The scores sold by Credit Reference Agencies are marketing features for consumers - they are not seen or used by commercial (e.g. lenders) or public (e.g. councils) organisations.

Best to have a read of this MSE article for general tips & information about how credit profiling works and how to boost your general credit worthiness.

Tixy

Moving to a new address can have a short term impact on your ability to get credit.

It is just one factor potential lenders take in to account when making a credit decision though.

Teqpro

Ignore the 27 score drop or any credit score, the main issue you should be concerned with is your total outstanding debt and the more its reduced the higher your rating will go.

rizla_king

hilbil21 wrote: »

Surely moving house when you have been at a previous address for years doesn't make that much of a difference?

It might as it means they do a new role of the dice or kick of the random number generator they use to generate 'scores'.

hilbil21

Lol thanks everyone

I know what you're all saying I guess I was just a bit disappointed haha.

Don't even know why I'm bothered, I'm on maternity and not planning on going back to work so I will probably never be accepted for credit ever again anyway haha

Thanks again

Xx

rizla_king

Also remember that the purpose of the fictitious score is to keep you paying the monthly subscriptions. Nothing else.

They want you to be concerned about how it changes. They want you think is this going to affect me. They want you to continue paying to see if it goes back up or gets worse. So its rigged to change in this sort of way to bait the hook.