Credit score

gordonpringle

following discharge from bankruptcy 18 months ago i was accepted for a credit card a couple of months ago, at this time my score went up to about 550, I've used the card and paid all due on time but my score has dropped to 530. I have not had any issues with any money no late payments and no other credit applications etc, any idea why my score would drop ?

pcman1985

You don't have a credit score. The number that the CRAs give you mean nothing to your credit worthiness because lenders don't see the number.
What matters is the information in your credit file such as payment history, defaults, CCJ's etc.

[Deleted User]

Where are you getting this 550 from? If it's somewhere you pay (Experian etc) I'd cancel it ASAP.

The scores will fluctuate anyway, so 20 points generally is nothing to be concerned about. Just look at the actual information (account history etC) and make sure:

ALL addresses for active accounts are up to date (current address only - multiple addresses can cause problems, especially if you've been BR, they think you might be trying to hide things)

You're on the electoral roll (if UK national/eligible to vote)

ALL default dates relating to bankruptcy are listed as on or before you went bankrupt

All your defaulted accounts that were included in bankruptcy are listed as satisfied/partially satisfied (no balance owing). The date they were satisfied should be your Bankruptcy Discharge date or earlier.

Depending on how many debts were in your bankruptcy that can be quite a task, but you need to go through it with a fine tooth comb - it will prevent debts getting sold on and hassle with DCAs at a later date.

Pay most attention to any recently opened accounts - are they duplicates of debts that already exist etc.