Credit Score

plasmarb

I've just got my updated credit score, it's gone done 3/5! I'm gutted as this could ruin my chances to a mortgage lender.

More to the point I don't know why? Other than i've spent more on my CC but also paid the same amount off would this have caused it? I have a check of £2,266 on my Barclaycard?

plasmarb

EDIT: I also changed my address. Surely that wouldn't matter?

[Deleted User]

The score is entirely irrelevant. Ignore it.

Westminster

But yes - changing your address can potentially have a short-term detrimental impact on your credit file. If you move every 6 months then you could be perceived as more of a risk than someone who has lived in the same place for 10 years.

However, the 'score' noddle have given you is just their opinion and will not be visible or have any impact on any future credit applications.

Pixie5740

Your credit score is meaningless, lenders don't see it and they certainly don't use it. Each lender has their own criteria for selecting who to lend money to and at what rates.

Read this:

What your credit score really means.

cakeforbrains

You need to make sure that you are on the electoral roll at your new address. This can take a few months to filter through to your credit file, but not being on the ER has a big impact on your ability to get credit.

amnblog

Why 'scores' from credit reference agencies are a nonsense

http://www.moneysavingexpert.com/news/banking/2015/11/experian-shakes-up-how-it-calculates-credit-scores-what-it-means