Credit Score Dropped in a month

[Deleted User]

beany_bot wrote: »

It is not random. You are wrong.

It is random.

Explain the points I mentioned above then

System

!!! wrote: »

It is random.

Explain the points I mentioned above then

The points above are complete hearsay. I can't explain how a bankruptee gets a score of 999 other than they could be lying. it could be a website bug. who knows.

If the score given was truly "completely random" then the credit agencies could EASILY by sued for misinformation and or misleading practice.

Ask yourself, to what benefit to the credit reference agency does it have installing a random number generator for their credit scores?

Blackbeard_of_Perranporth

Think of a number

Add twenty

Double it

Add forty

Divide by two

Take away the number you first though of

Add two

The answer to life the universe and everything!

[Deleted User]

beany_bot wrote: »

The points above are complete hearsay. I can't explain how a bankruptee gets a score of 999 other than they could be lying. it could be a website bug. who knows.

If the score given was truly "completely random" then the credit agencies could EASILY by sued for misinformation and or misleading practice.

Ask yourself, to what benefit to the credit reference agency does it have installing a random number generator for their credit scores?

Right then.

Not hearsay but true.

It's not a website a bug - it's due to the 100% fact that the scores are meaningless and should not be used to judge ones credit-worthiness with.

The scores are there to sell you "improvement products" and such

System

I've just logged in and out of clearscore 4 times. Amazingly every time I received the same score!?!? Wow. I mean seeing as how it is "completely random" what are the chances of that!! Maybe I should buy a lottery ticket, I mean that is crazy!

System

!!! wrote: »

Right then.

should not be used to judge ones credit-worthiness with.

I completely agree.

Doesn't take away from the fact they are NOT "completely random".

HaveAGo

beany_bot wrote: »

The points above are complete hearsay. I can't explain how a bankruptee gets a score of 999 other than they could be lying. it could be a website bug. who knows.

If the score given was truly "completely random" then the credit agencies could EASILY by sued for misinformation and or misleading practice.

Ask yourself, to what benefit to the credit reference agency does it have installing a random number generator for their credit scores?

Explain how they coukd be sued?

It's a meaningless number only the CRA and the individual concerned will see.

[Deleted User]

beany_bot wrote: »

I've just logged in and out of clearscore 4 times. Amazingly every time I received the same score!?!? Wow. I mean seeing as how it is "completely random" what are the chances of that!! Maybe I should buy a lottery ticket, I mean that is crazy!

You're (purposely) misinterpreting the term "random".

Clearscore won't change everytime you log in and out anywhere as it only updates once a month based on a snapshot pulled from Equifax..

And to further prove the point, my "score" on Clearscore is different than that I get directly from Equifax.

Likewise, my "score" on Experian is different from the ones from them directly, the MSE Credit Club and Barclaycard - in some cases by a hundred or more points - but the data on them all is EXACTLY the same.

The randomisation is how the number is generated - not each time you login.

As already stated; the CRA's are not lenders, so there's no way that they can score you, and they don't have access to the lenders own unique, and confidential system for rating someone.

System

From the mouth of martin lewis himself.

"Interestingly, lenders don't see this score at all - it's just for you. The score you see reflects what's actually in your file, which is what lenders will look through when you apply for a credit product."
https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

I'm amazed Martin doesn't know that the agencies are just using a random number generator. He really should know better...

System

!!! wrote: »

You're (purposely) misinterpreting the term "random".

Clearscore won't change everytime you log in and out anywhere as it only updates once a month based on a snapshot pulled from Equifax..

And to further prove the point, my "score" on Clearscore is different than that I get directly from Equifax.

Likewise, my "score" on Experian is different from the ones from them directly, the MSE Credit Club and Barclaycard - in some cases by a hundred or more points - but the data on them all is EXACTLY the same.

The randomisation is how the number is generated - not each time you login.

As already stated; the CRA's are not lenders, so there's no way that they can score you, and they don't have access to the lenders own unique, and confidential system for rating someone.

How can you misinterpret the phrase "completely random" hen referring to a number??

Of course CRA's can "score" you. They have access to your history and therefore can create an algorithm around what is in your file.

Ergo, not "completely randiom"