Energy Switch Negative Impact on Credit Score

Debbyog1

I recently switched from EON to NPOWER at the end of the year. I occasionally check my credit score with Experian and noticed my score had taken a dive. I spoke to Experian who told me that as I had switched and therefore didn't have more than 3 months history with my new supplier my credit score had taken a hit. I was astonished as we are constantly being encouraged to switch suppliers. What if I had been about to look for a new mortgage? This might have meant I was turned down. I have never heard anyone warn people about this. I did email the website as I really think this is something that needs looking into but never received a reply.

nPower

Debbyog1 wrote: »

I recently switched from EON to NPOWER at the end of the year. I occasionally check my credit score with Experian and noticed my score had taken a dive. I spoke to Experian who told me that as I had switched and therefore didn't have more than 3 months history with my new supplier my credit score had taken a hit. I was astonished as we are constantly being encouraged to switch suppliers. What if I had been about to look for a new mortgage? This might have meant I was turned down. I have never heard anyone warn people about this. I did email the website as I really think this is something that needs looking into but never received a reply.

Hi Debbyog1

Thank you for posting, I'm sorry to hear your credit rating has been affected by the change of supplier. I will be happy to take a look at this if you would like to send me an email (using the address from my profile) with your account details.

Thanks

Vicky

Ectophile

If it's just the numeric score (out of 700 or whatever it is), then it's largely meaningless anyway. The credit reference agencies like to make out it's a really important thing you have to look after.

All a potential lender really cares about is do you pay bills on time, or do you have a habit of paying late or not at all.