Experian/ credit expert credit score query

another_casualty

Howdy!
A few months ago , my credit score was 'excellent'.
Every other week , I'm encouraged to check my score again.
( I believe that experian , just want cas from me that I cannot afford )

My question is ; do I need to check it again? What happens if I don't check it again for 2 years for example ?
Sorry, make that 2 questions ;)0

brokebuthappy

If you're worried order a £2 statutory credit report from Experian. I get one maybe every other year or less. The rest of the time I use Noddle and Clearscore, which are free, to keep an eye on my credit report as all my accounts show up there. Credit Expert/Experian DO just want your cash!

sourcrates

Ok, prepare for Rant !!


Why would you "NEED" to keep checking your credit score ?


This issue surfaces all the time on here, people obsessed with there credit score, why ?


You need to understand that credit reference agencies are businesses, and like any business, it needs to make money.


One way of doing this, is to give everyone an imaginary "credit score", everyone is scored according to how they behave financially, or, more to the point, how the CRA`s view how you behave financially.


They then try to sell you there "credit improvement products" or subscriptions to there service, its all to make money for them.


Only you and they see this imaginary number, no lender ever does, you are assessed for credit by the lenders own scoring criteria, nothing else, they want you to check your score frequently, so you will buy there products, its that simple really !!!

Sanctioned_Parts_List

Just to add to sourcrates' post above, most lenders only update their information with the CRAs every 4-6 weeks, or even less frequently in some cases, so if you're checking any more frequently than bi-monthly or quarterly, you're probably wasting your money.

another_casualty

Thanks folks
I have no intention of checking it again, unless I'm told to ( remortgaging etc).
If I don't do anything different since last year , my score should stay the same anyway