Credit rating drop of 158

Jamesmck197

This month my credit score on Clearscore has dropped by 158 points. I have had no missed payments. The only application I made was for the iPhone upgrade program, which was unexpectedly rejected and no further applications have been made. I have recently moved address and am in my interest free overdraft in my student/graduate current account but am well within the limit which I am paying off gradually now I am working. Could any of the above mentioned things lead to a drop of 158 in one month or should I be concerned about something going on I'm not aware of? Also what affect is this likely to have on me in the future?

[Deleted User]

Ignore it. Credit scores react negatively to change but havr little meaning.

boo_star

Deleted_User wrote: »

Ignore it. Credit scores react negatively to change but havr little meaning.

Pretty much. They're pulling the number out of their backsides, forget it and move on.

SuperHan

Clearscore shows any changes to your credit report in the Report section.


It will imperatively be one of these changes impact Clearscore's 'score' because that is the only information it is looking at when producing the score.


It may well be a combination of short time at address and additional credit check.


I wouldn't worry though - Clearscore is never going to lend you money, so how they perceive your credit score is largely irrelevant.

Superscrooge

Probably due to you not yet being shown on the electoral role at your new address.

Clearscore list what they regard as positives and negatives on your account, so check this to make sure there is nothing untoward.

Make sure you are on the electroral roll at your new address and unless there are any other problems on your file, your score should gradually improve.

It's your credit history that lenders judge you on though, rather than your score, which they never see. .