Impact of current accounts on rating

EmmaMicawber

We are very over-indebted and my OH'S score has plummeted from excellent to very poor over the last few months even though we've not missed a payment. The report shows everything green and up to date.
He has 3 current accounts- 2 with Bank A and 1 with Bank B.

The Bank B account shows as existing on the credit report, but with no details of balances.
For the Bank A accounts, one doesn't show up at all (apparently because we've had it so long the terms and conditions didn't allow data sharing) - y his is our main joint one where the monthly income is paid into
The other Bank A account was opened for household stuff, and has month by month details of the balances, but we haven't used it for ages.

My questions are:
How common is it for Banks share details of monthly balances of current accounts with the CRAs?
Does it matter if new credit providers can't see your main current account balance every Month when they do a credit Check?
Could this be why OH's credit score has Plummeted? (I don't think so, he thinks it might be)

Thanks

[Deleted User]

Current accounts, as long as kept in credit, won't cause issues.

What does the rest of his history show? Any issues at all?

His credit score is meaningless, but worth checking that nothing untoward has appeared on his files. However, it's just as likely that it's simply a random change in the score.

Marcio45

As far as i am aware, banks dont report to credit reference agencies your account balance if in credit. It only shows if you are using an overdraft, as it is a credit facility.

EmmaMicawber

Now we've looked at the credit club Experian report that makes sense.
It definitely looks as though numbers only appear in monthly records of current account balances when he's been overdrawn.
The balances appear as 0 when in credit, even though they weren't actually 0, as it just means 0 overdraft being used that month.

Ben8282

Yes. That is correct. The amount of the credit balance cannot be reported.
The existence of the overdraft facility is good.
Using the overdraft, especially if such use is frequent, can be viewed negatively.
The most likely reason for the apparent decline in your husband's credit worthiness is the high level of overall debt.

Chappaz

If you've built up a lot of debt recently then it's most probably due to a very sharp increase in your credit utilisation, particularly if it's an overdraft.

Even if you've made all payments on time, they'll view it as a big risk if they see that you've suddenly took on loads of debt as it's a sign of financial distress.

The continued on time payments will certainly be helping though. Your report would look significantly worse overall if you started missing those.