British Gas 2x accounts damaged my Credit!

Jasond

So I have a flawless credit score until last month when British Gas decided to add an account and knocked my clearscore credit from 503 to 480! (electric).

and now today they have done the same with gas and knocked my score again from 480 to 436!...

ive never had accounts with them prior and ive never been in debt to them im currently £256 in credit!!

ive contacted them to report this and they confirm ive had no issues with them and they state they haven't damaged my score even though ive sent them both sets of information stating otherwise. ive also reported it to Equifax but they are taking ages to even come back to me on the issue?

any ideas what I can do about this?

[Deleted User]

Forget the score.
It’s not a real thing used by lenders.

BG will report one account for gas and one for electric. Perfectly normal.

Jasond

Surely not normal to damage a score so much when you have no debt to them and are in credit so much though?

makes no sense to ruin my score for no apparent reason?

Jasond

my score was flawless in the fact it was clean and had nothing going against it...

as for your silly little attitude and silly comments issue I think ill be ignoring your comments from now on... you need to grow up a little.. get a grip

[Deleted User]

Really?

It’s not my fault you’re not listening to what you’re being told.

If you’re “score” had nothing “against it” it would be top marks.

The scores aren’t real.

They react negatively to change.
Good change.
Bad change.
Even no change.

You can safely ignore it knowing full well that a prospective future lender won’t give a hoot about it or ask to see it.

Jasond

yes really...

considering Natwest just used my credit score only 6 months ago for a mortgage yet didn't effect my score says everything yet 2 accounts opened for utilities that are in credit does!?

blows your theory our the water as to lenders don't use it...

my score was 503 for at least 1 year prior to this and didn't deviate and had no changes whatsoever and no negatives on the account at all...

again 1 whole year and the score didn't fluctuate blows your second theory out the water... .


so please do give me some decent advice on what I can do to have these accounts removed as its unfair that I am in credit by so much yet I'm being penalised for the privilege of handing over my money in advance...

SPOWER

I am confused. in February you were asking about your bills being high having moved from British Gas to Octopus. Have you moved back to British Gas?

[Deleted User]

It’s not a theory.
It’s fact.

You can get the accounts removed by switching supplier or moving to a pre-paid meter.

But when the accounts close your “score” will likely drop again and the new supplier may also report to the CRA’s and add the accounts and make your “score” drop further.

Natwest didn’t use your credit score - they looked at the raw data on your file and decided whether you were eligible for a mortgage with them or not.
They didn’t see or use the “score”.

Even this MSE article clearly states: Lenders don't see the actual score, but they use what's on your file to get an idea of what your future financial behaviour will be like, based on what you've done before.

https://www.moneysavingexpert.com/team-blog/2019/05/the-moneysavingidiot-joined-credit-club-and-this-is-what-he-foun/

boo_star

Jasond wrote: »

yes really...

considering Natwest just used my credit score only 6 months ago for a mortgage yet didn't effect my score says everything yet 2 accounts opened for utilities that are in credit does!?

Are you saying that your mortgage application did not impact your score?

Well I also applied (and was accepted) for a mortgage with Natwest recently and their hard credit search dinged my score pretty badly.

Which if anything proves how inconsistent and ultimately useless the CRA scores actually are.

SnowTiger

Jasond wrote: »

so please do give me some decent advice on what I can do to have these accounts removed...

Send angry letters, written in green crayon, to British Gas, Equifax and ClearScore.

https://help.clearscore.com/hc/en-us/articles/115005333605-What-is-the-difference-between-a-credit-score-and-a-credit-rating-:

We at ClearScore show you your credit score, not your credit rating. This score is provided to us by Equifax and is a much more accurate indication of your credit risk as the scale we use ranges from 0-700.

This score is similar to what banks and financial institutions use when deciding whether or not to give you credit.

Note the use of the word "similar" in the phrasing: "This score is similar to what banks and financial institutions use when deciding whether or not to give you credit."

Your starting score of 503 out of 700 is hardly "flawless".

BoGoF

And no, Natwest did not use your fantasy Credit Reference Agency score to evaluate your mortgage application - they score you on their own internal criteria based on whats on your credit file but, for the avoidance of doubt, not your CRA credit score.