Experian Credit Score

rubble2

Don't normally bother with tracking my credit score as I have never to my knowledge had a problem getting credit when needed but I have access to my Experian score as a free service with my Barclaycard Credit card.

I got an email yesterday saying that my latest Experian score was available on line ( it is updated every 60 days) so curiosity got the better of me and I took a look at it.

In the last 60 days my score has fallen from 970 to 843, the only activity I can think of that could have affected my score was that I applied for and was accepted for a new Tesco Card with 0% balance transfer offer. Would that in itself have a negative effect on my score? nothing else has happened - no missed/late payments etc.

As I say, just curious - I have no need for any further credit so it is unlikely to cause me any problems but just wondered why the big drop.

Thanks

[Deleted User]

Because the scores are useless and gave no meaning.

They will react negatively to any changes, including positive ones.

DCFC79

The score is about as useful as a chocolate teapot.

wiseonesomeofthetime

DCFC79 wrote: »

The score is about as useful as a chocolate teapot.

I do love a good chocolate teapot. Better than eating poor bunnies!

:rotfl:

bazzyb

rubble2 wrote: »

I applied for and was accepted for a new Tesco Card with 0% balance transfer offer. Would that in itself have a negative effect on my score?

Yes. But it doesn't really matter as the score is meaningless, it's your history that's of interest to lenders. So maintain your new card well and all should be fine. This will also mean that your meaningless score will increase too over time.

DUTR

rubble2 wrote: »

Don't normally bother with tracking my credit score as I have never to my knowledge had a problem getting credit when needed but I have access to my Experian score as a free service with my Barclaycard Credit card.

I got an email yesterday saying that my latest Experian score was available on line ( it is updated every 60 days) so curiosity got the better of me and I took a look at it.

In the last 60 days my score has fallen from 970 to 843, the only activity I can think of that could have affected my score was that I applied for and was accepted for a new Tesco Card with 0% balance transfer offer. Would that in itself have a negative effect on my score? nothing else has happened - no missed/late payments etc.

As I say, just curious - I have no need for any further credit so it is unlikely to cause me any problems but just wondered why the big drop.

Thanks

As others have mentioned the score is sort of meaningless, mine varies between 981 and 990 and every month my savings increase.

forgotmyname

DCFC79 wrote: »

The score is about as useful as a chocolate teapot.

I disagree...

I watched a clip of This Morning with Holly Wolloughby and Phillip Schofield with an Easter related theme. They had chocolate teapots and actually made a drink in them. They did get a bit soft after a while but they worked.

So i think a chocolate teapot is far more useful


https://www.youtube.com/watch?v=B195q2YCHJc

rubble2

Thanks for the replies. Looks like nothing to be concerned about then, I will check again in 60 days time to see if the rating changes upwards again, but it is difficult to see exactly what purpose these things serve if they are seemingly so random

sirloyneofcowes

What i find amusing about credit scores is that my Barclaycard score is 930, my creditexpert score is 547, and my mse score is 774. All of these are based on Experian - i think as long as the credit report is correct then i don't now worry about what the score is ��

Ilona

rubble2 wrote: »

Thanks for the replies. Looks like nothing to be concerned about then, I will check again in 60 days time to see if the rating changes upwards again, but it is difficult to see exactly what purpose these things serve if they are seemingly so random

Why bother checking if you are not going to be looking for credit, that's a few minutes wasted when it could be put to better use.

I have no idea what my credit score is, couldn't care less.

Ilona

tykesi

Ilona wrote: »

Why bother checking if you are not going to be looking for credit, that's a few minutes wasted when it could be put to better use.

I have no idea what my credit score is, couldn't care less.

Ilona

And why bother checking when pretty much every reply to your OP has told you the score is meaningless?

The CCAs' marketing is bloody effective isn't it?