Massive jump in credit score?

glasgowm148

Hey all,

I just got my latest clearscore report and I've jumped from 186 to 349 - which puts me just below the UK average. It says 'No Changes available' for February so I can't see what's caused this. I've had 2 defaults forgiven, and paid another one off since my last report but this was done in the last week so I doubt that's being reflected yet. I've also dropped my credit debt from 2400/2300 to 2155/2300 according to my credit report. I've actually managed to clear down to 1500/2300 so I have no idea how it's jumped so much - is this maybe an error?

I used the moneysavingexpert soft-check to check for balance transfer cards (if I could transfer my debt to a 0% card I'd save a fortune in interest) but I'm still showing as 0% acceptance for all the cards so I'm not sure what's going on?

National_Debtline

Hi glasgowm148,


Your score is nothing to overly worry about, as it is not seen by future lenders, it is really just an indicator of your overall rating. If things like defaults have come off the file and you have satisfied another debt then these are all positive indicators of your history so it means your rating is improving.


It may still be too early to apply for more credit (such as a 0% interest card) but seem to be moving in the right direction. Remember, future lenders will only see your history - not your score. So, make sure you are on the electoral roll, not financially associated with anyone you don't want or need to be and keep taking positive steps to pay off debt and your credit history will continue to improve.


Laura
@natdebtline

EssexHebridean

Ignore it - it's just a set of numbers. Use the MSE Credit Club to see a more wide ranging picture (Sounds like you may already be doing this?) and see your affordability if you're looking for 0% cards. Some great advice as ever from National debtline above.

Fireflyaway

I'm guessing its the defaults and drop in credit card balance but I have also noticed my clear score data move up or down for no apparent reason. At least it went up and not down!

glasgowm148

It's jumped up across the board - Noodle, MSE and Clearscore. Hoping it stays about there as I was expecting it to take years to recover.

If creditors can't see your score how do they make a judgement? It's instant so it's not a human looking at your credit score..Do they look at all your defaults/late payments/etc and accept/decline you based on their own internal score?

[Deleted User]

They use the raw data and measure it against their own criteria. The CRA scores are never used.