Credit score decreased -> on Registering in Electoral. help required.

Roselilyjas

Hello,

I had a credit score - good [ i.e 410] till last month.

I have registered for electoral roll, to increase my credit rating.
But since I have stayed less than 2 years in my current address , they reduced my credit score to Poor [i.e 350]. Even though Im regular in paying back the credit & bills amount, this decreased credit score. :eek:

On contacting back, i got reply to wait for fews years to get back my credit score.:(

Query 1
PLEASE HELP me that how to get that the credit score back ?

Query 2
In addition to this, recently i gave notice to my current rental house. and on processing the application for my new house, it got rejected due to my current decrease in credit score.

have to vacate current house, but fee is getting wasted on finding new houses. Yet NO solution, PLEASE HELP


Solution please. URGENT. Thanks in Advance

[Deleted User]

Good news. Your credit score means nothing. Ignore it - registering on the the ER will make lender view you as lower risk.

Lenders only look at the data on your file. They cannot, and would not want to, see your score.

Make sure all data on your file is correct. If you failed a credit check for a rental property, then there is something nasty in your files. However, are you sure it was due to the check and not income or references?

glentoran99

Deleted_User wrote: »

Good news. Your credit score means nothing. Ignore it - registering on the the ER will make lender view you as lower risk.

Lenders only look at the data on your file. They cannot, and would not want to, see your score.

Make sure all data on your file is correct. If you failed a credit check for a rental property, then there is something nasty in your files. However, are you sure it was due to the check and not income or references?

Martin Lewis was telling me on twitter that "credit score not meaningless"

[Deleted User]

Good for him.

marty2be2000

glentoran99 wrote: »

Martin Lewis was telling me on twitter that "credit score not meaningless"

Of course its meaningless, the only thing that it important is the data.

The agencies do not lend money, each lender will have its own criteria based on the data held on your credit file and not the score.

Read previous posts and you'll see others with defaults and bankruptcies having a supposed great credit score from the agencies.

For the other query, letting agents only have access to public data on your file and cannot see your supposed credit score or any debt, loans etc. All the lettings agents or their referencing company sees are if you have any CCJs or Bankruptcies, the new agreement will not have been rejected because of the drop in score.

A recent history of lots of address changes will have a much larger impact, lenders like to see continuous addresses as it means it's easier to find you if things go wrong. Changing house every 2 years or so is not helping your credit file.

glentoran99

marty2be2000 wrote: »

Of course its meaningless, the only thing that it important is the data.

The agencies do not lend money, each lender will have its own criteria based on the data held on your credit file and not the score.

Read previous posts and you'll see others with defaults and bankruptcies having a supposed great credit score from the agencies.

For the other query, letting agents only have access to public data on your file and cannot see your supposed credit score or any debt, loans etc. All the lettings agents or their referencing company sees are if you have any CCJs or Bankruptcies, the new agreement will not have been rejected because of the drop in score.

A recent history of lots of address changes will have a much larger impact, lenders like to see continuous addresses as it means it's easier to find you if things go wrong. Changing house every 2 years or so is not helping your credit file.

Oh I agree, but with the launch of this new "credit club" they are adding to the myth that the number is important

molerat

If credit scores are so meaningful why do each of the 3 put me in a completely different position in their scale. Surely I should be the same in each, Experian give me 10/10, CallCredit 9/10 (nat av 8.6/10) and Equifax 8/10 (nat av 5.4/10)
Meaningful ?

Roselilyjas

No Nasty things in Credit report.
its reduced only due to electoral.

Please HELP. urgent.Query 1
PLEASE HELP me that how to get that the credit score back ?

Query 2
In addition to this, recently i gave notice to my current rental house. and on processing the application for my new house, it got rejected due to my current decrease in credit score.

have to vacate current house, but fee is getting wasted on finding new houses. Yet NO solution, PLEASE HELP

DCFC79

Roselilyjas wrote: »

No Nasty things in Credit report.
its reduced only due to electoral.

Please HELP. urgent.Query 1
PLEASE HELP me that how to get that the credit score back ?

Query 2
In addition to this, recently i gave notice to my current rental house. and on processing the application for my new house, it got rejected due to my current decrease in credit score.

have to vacate current house, but fee is getting wasted on finding new houses. Yet NO solution, PLEASE HELP

Query 2

You weren't rejected due to your score unless mind reading is a skill that everyone has and can utilise, only you can see your score. You were most likely rejected due to something on your credit report or you were rejected for no reason at all.

Are you looking at renting a property ?

GingerBob_3

glentoran99 wrote: »

Martin Lewis was telling me on twitter that "credit score not meaningless"

He is correct. It is NOT meaningless. However, it is also potentially not accurate. It is an indicator and should be treated as such. If the score changes then it's highly likely something has happened, so it's ... an indicator.

Roselilyjas

yes. looking for renting a property.