Living at two addresses

johndb

To cut a very long story short I have been living between two addresses for the last few years, spending around half my time at each. I recently noticed that I am registered on the electoral role at one and my bank is registered to me at the other.

I obviously want to get this sorted asap but wondered which of the following would be more beneficial to my credit score.

1. Change the address for my bank to the address that I am registered on the electoral role.

Or,

2. Register on the electoral role at the address my bank is currently registered to.

Any suggestions as to which would be best?

Thanks in advance :T

MEM62

You score is irrelevant as it is a randomly generated number.

Pick which address you want to be you 'main' address and change whatever facilities are registered elsewhere to that address.

The impact, if any, on the way that lenders view you will be minimal.

MataNui

Not a good answer by MEM62. Your Credit score is NOT a randomly generated number in the slightest. Your credit score is actually a pretty useful thing. BUT.. And this is what MEM62 should have said, its only useful to you.

When a credit search is done they dont see your credit score. Most CRAs will have a credit score for you. They all use a different way of calculating it and none of them will tell you how its calculated, but its internal to the CRA. If you have a 'good' credit score it means that that particular CRA holds lots of information about you that would give a positive outlook for a credit search . A bad score would mean either they dont hold enough information about you for a credit search in your name to be particularly useful or the information they hold would give a negative outlook for a search.

So you see its useful to you. Your credit score will be affected by the difference in address as a common marker would be consistency of residence information between records. It would lower your score if there are multiple addresses with current data. MEM62 is also incorrect in saying its impact would be minimal. Although lenders dont see the CRAs credit score they will use algorithm that works in a similar way to the CRA in that it reduces all the information into a number or a simple pass/fail. As i said earlier consistency of address information is one of the common or key validators so anything that impacts this will impact your chances of getting credit. Its something you should sort as soon as you can.