Credit score rating - Panic!

zaleska3

Hi all, my husband and me have an ID aware facility on our account with TSB which sends us quarterly credit rating summaries. In fairness I have rarely taken much notice of them as we have always had a pretty good rating.

Ours came today and it shows we have 2 out of a possible 5 stars which is quite honestly freaking me out.

The items on the statement so to speak are just a few entries that say "no significant impact" after them and two that are from changes the at state "positive impact".

We have debt obviously but have never defaulted, never gone over limits and still have a lot of available credit on each of our credit cards (one each).

I've read on here that these credit score figures - star ratings and score out of 999 - aren't anything to be too worried about but I cant help but worry as it makes me feel like we're doing something really wrong and I have no idea what!

Can anyone shed any light on this for me as I'm scared to even dare apply for anything now until we find a way to fix this.

Gaz83

Don't worry about it, the scores are meaningless.

nic_santorini

try using clearscore.com it gives you a free credit score and tells you a little history and what is good or not. it is totally free and you can do this on your mobile phone via an app if you wish or on the computer. was helpful indicator. they then update you monthly if anything changes.

[Deleted User]

2 out of 5 stars is equivalent to either 7 jammy dodgers or 3 turtles (if you prefer the imperial system), so you're actually doing quite well.

DCFC79

You need to get it out of your head the scores mean anything. As long as the data is correct that's all lenders, banks care about.

MEM62

zaleska3 wrote: »

Ours came today and it shows we have 2 out of a possible 5 stars which is quite honestly freaking me out.

I am struggling to understand why you are so worried about a randomly made up number. If the data on your credit report is accurate that is all you need to worry about.

[Deleted User]

I believe 'freaking out' is now common parlance for simply encountering an undesired situation, rather than the total meltdown it used to mean.

At least I hope it does, or the mental health of the nation is serious question, judging by the number of 'freak outs' on the boards these days.