Low credit score???

[Deleted User]

Hi, I'm new to the forum. I signed up with the MSE credit club quite a while ago and my credit score has always been excellent. However, recently it has fallen, and it is now showing as "poor". BUT - I make all my payments, I have followed all the advice for raising my score and when I look at the detail I have a green smiley face for all the categories (except account stability, which is supposed to be relatively unimportant). I simply can't see any reason why I don't have an excellent score.

The thing is - I need to remortgage in the next month or two, so I am worried that this new low score will affect my chance of getting a good deal... all advice welcome... Thanks

[Deleted User]

Luckily for you the score isn’t a factor used in lending and can be safely ignored.

So long as your accounts are up to date and there are not debts or defaults then you’ll be fine

Willing2Learn

Have you checked the actual data within the credit report itself, for accuracy?

gionnetto

[quote=[Deleted User];discussion/6003991]Hi, I'm new to the forum. I signed up with the MSE credit club quite a while ago and my credit score has always been excellent. However, recently it has fallen, and it is now showing as "poor". BUT - I make all my payments, I have followed all the advice for raising my score and when I look at the detail I have a green smiley face for all the categories (except account stability, which is supposed to be relatively unimportant). I simply can't see any reason why I don't have an excellent score.

The thing is - I need to remortgage in the next month or two, so I am worried that this new low score will affect my chance of getting a good deal... all advice welcome... Thanks[/QUOTE]

Have you switched accounts recently? Because switching your bank account or utilities IS going to have an impact on your credit score. This is because the average length of your account shortens.

[Deleted User]

gionnetto wrote: »

Have you switched accounts recently? Because switching your bank account or utilities IS going to have an impact on your credit score. This is because the average length of your account shortens.

But that doesn't matter if the score is affected

MEM62

Don't worry, as long as you have green smiley faces you'll be fine

Your score is a meaningless, randomly generated number. As long as you are running your finances responsibly, lenders will look at you favourably. You don't need to worry about anything else.