Clearscore

Old_Git

My credit score has gone down hill in the past couple off years and I am not sure why.
I moved house in 2013 .
I cleared my mortage .
I have all the BTL properties paid off .
I took out a loan from M&S for £7500 in December 2014 .
Currently owe £6500 .
I have a credit card from nationwide ,usually £40 per month spend ,cleared every month .
Mobile contract with o2. electric is key pad .
I am on the electrol register.

The only searches on my file are for insurance ,all soft searches .

I know before I moved house my credit rating with 999 .After I moved it was 700 .Now with clearscore its 494
Credit score is stable 10 positives no negatives .

Why is my score not better than 494 out of 700

Consumerist

Old_Git wrote: »

My credit score has gone down hill in the past couple off years and I am not sure why.

I moved house in 2013 .

I know before I moved house my credit rating with 999 .After I moved it was 700 .Now with clearscore its 494

Why is my score not better than 494 out of 700

Clearscore hasn't been available that long so the score you quoted was probably not from them. Or was it?

Like lenders, Clearscore has its own opinion of your creditworthiness and, as such, it has no more weight than any other guess.

What is more important is the score a lender might give you if you apply for credit. On the basis of what you say, it is likely you will have little difficulty with getting credit but your "score" may have changed simply because you're older.

I don't know how your "score" may have changed over time but if there has been a sudden large change then I would suggest that you contact Clearscore for an explanation.

Superscrooge

Credit Scores are meaningless. It's quite common for your score with one CRA to go up at the same time as another puts it down. Just concentrate on your credit history. See below link for fuller explanation.

http://www.moneysavingexpert.com/loans/what-credit-scores-mean

robin58

Old_Git wrote: »

My credit score has gone down hill in the past couple off years and I am not sure why.
I moved house in 2013 .
I cleared my mortage .
I have all the BTL properties paid off .
I took out a loan from M&S for £7500 in December 2014 .
Currently owe £6500 .
I have a credit card from nationwide ,usually £40 per month spend ,cleared every month .
Mobile contract with o2. electric is key pad .
I am on the electrol register.

The only searches on my file are for insurance ,all soft searches .

I know before I moved house my credit rating with 999 .After I moved it was 700 .Now with clearscore its 494
Credit score is stable 10 positives no negatives .

Why is my score not better than 494 out of 700

I personally think it's because you don't have a very active credit history.

What I mean about that is you've paid off all the mortgages, you pay off all your small debts very quickly.

They can't see how you manage your money when you owe money if you understand what I mean.

Delete33

Just joined/registered with Clearscore. Very modern website,easy to use, information correct. I am impressed, so I will be using this on a regular basis and see how it changes as I pay off my debts.

jonathon

my score is 581 but I am sill not sure how good this is

marty2be2000

dave2016 wrote: »

Hi just signed up to clearscore easy to sign up but it has a lot of missing stuff no past accounts and bank accounts are missing past mortgage is missing as well as c/cards so it dose't tell you that much
unless anyone can help..

Not all organisations report credit data to the three CRA's, so it is perfectly feasible that the data maybe missing. To get a full picture you need to get reports from All three, so if you sign up for Noddle (callcredit), Clearscrore (Equifax) and get your statutory £2 report from Experian you should find all your accounts.

SRD

Just signed up to clearscore now that capital one are ending their free access to equifax data. Found clearscore easy to sign up to and information is useful. Will probably check once a month to check for identity theft attempts or similar.

MABLE

robin58 wrote: »

I personally think it's because you don't have a very active credit history.

What I mean about that is you've paid off all the mortgages, you pay off all your small debts very quickly.

They can't see how you manage your money when you owe money if you understand what I mean.

Well if that is the case then I presume my score will come up because I have just stoozed £9000 on my Lloyds credit card and only paying the min for the next 18 months.

Also mortgage paid off completely now.

Time will tell!

Pixie5740

jonathon wrote: »

my score is 581 but I am sill not sure how good this is

Does it matter since there's no such thing as a universal credit score and Clearscore don't lend money so whether they rate you as good, bad or different doesn't matter.