Why is my credit score so bad, yet doing nothing wrong?

jonjon123

Hi all, cannot understand what's going on, so hoping someone can point me in the right direction and answer why my score is the way it is?

I have looked at all 3 of my reports in detail, Equifax, Experian and Callcredit and everything on my report shows as good. Everything shows as ''up to date'' and there is nothing in arrears/late or in default.

Looking also on clearscore it tells me I am doing 8 things well and 0 things are showing to improve, so I must be doing something right, so why is my score only a 325 out of 700?

I can't understand it?

The average score in my area is 446 and the UK average is showing as 380, but I'm not even getting that, so what on earth am I doing wrong?

If anyone could please assist, I will look forward to your replies.

Many thanks.

cjmillsnun

Because the score is a load of rubbish. Lenders don!!!8217;t use it. They look at your report.

They can!!!8217;t see the score.

DCFC79

jonjon123 wrote: »

Hi all, cannot understand what's going on, so hoping someone can point me in the right direction and answer why my score is the way it is?

I have looked at all 3 of my reports in detail, Equifax, Experian and Callcredit and everything on my report shows as good. Everything shows as ''up to date'' and there is nothing in arrears/late or in default.

Looking also on clearscore it tells me I am doing 8 things well and 0 things are showing to improve, so I must be doing something right, so why is my score only a 325 out of 700?

I can't understand it?

The average score in my area is 446 and the UK average is showing as 380, but I'm not even getting that, so what on earth am I doing wrong?

If anyone could please assist, I will look forward to your replies.

Many thanks.

Dont get too hung up on your score, what is your score from the other 2 agencies ?

datlex

Credit scoring is a mystery. For example if you open a second bank account for budgeting/ rewards your credit score goes down even though you have no addition debt.

RG2015

Hi jonjon123,

Have you paid any money for your credit reports? All three credit reporting agencies offer a premium service with a monthly subscription fee. However, they are all available free of charge as follows:

Experian via MSE Credit Club
Equifax via Clearscore
Callcredit via Noddle.

The reason I ask is because you say you have also got your score from Clearscore implying that you have already got it from Equifax.

Part of the mystery behind credit scores is that the three CRAs are enticing you in to the mystery to get money from subscribers every month,

As regards your eligibility for obtaining credit you need to manage you credit history by demonstrating that you manage credit well over a period of time.

jonjon123

DCFC79 wrote: »

Dont get too hung up on your score, what is your score from the other 2 agencies ?

My score with experian is 793 of out 999 and that shows in the ''fair'' mark

But then after fair, comes good and excellent so don't know where you have to be to get this as 850 out of 999 sounds good to me?

jonjon123

RG2015 wrote: »

Hi jonjon123,

Have you paid any money for your credit reports? All three credit reporting agencies offer a premium service with a monthly subscription fee. However, they are all available free of charge as follows:

Experian via MSE Credit Club
Equifax via Clearscore
Callcredit via Noddle.

The reason I ask is because you say you have also got your score from Clearscore implying that you have already got it from Equifax.

Part of the mystery behind credit scores is that the three CRAs are enticing you in to the mystery to get money from subscribers every month,

As regards your eligibility for obtaining credit you need to manage you credit history by demonstrating that you manage credit well over a period of time.

No, i havent paid any money, i have used the 3 links as you listed above in the past already.

DCFC79

jonjon123 wrote: »

My score with experian is roughly 850 of out 999 and that shows in the ''fair'' mark

But then after fair, comes good and excellent so don't know where you have to be to get this as 850 out of 999 sounds good to me?

Your score is neither here or there since no 1 but you can see it.

As long as the data is correct on your file then its all ok.

jonjon123

DCFC79 wrote: »

Your score is neither here or there since no 1 but you can see it.

As long as the data is correct on your file then its all ok.

So the fact that everything with all 3 CFA's are all showing as ''up to date'' then are you advising to ignore the score bit, because looking at the score itself it looks dreadful, when compared to the report itself?

RG2015

jonjon123 wrote: »

No, i havent paid any money, i have used the 3 links as you listed above in the past already.

Good to know.

Apart from the credit score issue, the CRAs all have very good advice for things that lenders may look at. You mentioned Clearscore positive and negative points but Noddle and MSE Credit Club also have these. I also find the MSE Credit Club eligibility checker very useful as well.