Clearscore taken a nosedive

pcman1985

It's a laughing matter, these scores

My Clearscore is in the "Poor" range.

However the factors affecting the score has
8 positive factors
And a whopping
ZERO negative factors.
:rotfl::rotfl::rotfl:
It's all a joke and is meaningless.

Anthorn

Personally, I have stopped accessing Clearscore: With every report it treats searches by John Lewis Partnership Card from August 2016 as new searches and sends me emails telling me there has been changes when there has been none. It sucks big-time!

molerat

My score dived this month due to :
Credit searches
Opening 2 credit cards
Closing one credit card
Increasing my available credit to 1.75 x my annual income
Increasing my debit balances to 1 x my annual income

So I applied and got another prime BT card increasing my available credit to 2 x my annual income

Go figure.

HeCh

Ebe_Scrooge wrote: »

So there is no way the CRA can mimick a lender's algorithm with any degree of accuracy at all, other than by using only the "common" factors that most will use.

Given that we have no real knowledge about the CRAs' or the lenders' scoring systems I don't it's possible to assess the accuracy of either. Although this doesn't sit well on this forum, I still believe that the CRA scores are a useful and accessible way to look for trends in individual financial management and how they may be perceived rather than focusing on the absolute values of the scores.

PixelPound

StopIt wrote: »

My ClearScore took a dive too when this flag hit:


You have made more than a few applications for credit in the past year


Basically I moved house and bought a couple of things on 0% as well as moving from O2 to EE. It recovered a few months later but frankly, no lender sees that score and circumstance changes were properly reflected in my credit history, which is fine.


One thing is that the actual flag, rather than the score would be a potential issue for lenders until it clears as it looks like you've been trying to get credit from everywhere and would increase the chances of being declined if they use the same data.

The flag is such a broad spectrum assumption because you get the same flag whether you've applied for 3 credit cards, so would be deemed to be desperate for credit, and if you remortgaged, swapped suppliers to British Gas and changed to O2 mobile. Surely you are not assuming a credit card company will treat the former like the latter because of the flag raised?

shortcrust

Clearscore now give me a score of under 300 since I bought my first house. It's not stopped Sainsbury's and Virgin from giving me 0% cards with big limits. I'm also preapproved for cards on the MSE checker.

Silly scores.

Edit: Where's that poster gone who was telling everyone on every thread that we were wrong to ignore the score a couple of weeks back?