Concerned about large drop

James131994

Hi all,

Looking for some advice...

3 months ago I moved house as we managed to get our first mortgage (had also moved house 7 months prior to this). Obviously because of getting the mortgage, change of address, change of address with our bank etc I was expecting my credit score to drop. On Noddle it dropped about 20 points but has already come back up. However on Experian it went from 999 to 861 which to me seems way to much. Looking at my account with experian they don't seem to hold accurate information on me, saying I have no mortgage and no credit card (both incorrect) so maybe it is just down to that?

I am just worried that I have possibly missed a payment with all the change of bills, utilities etc although I do think this is unlikely because I was very organised and my Noddle rating looks fine but is sometimes very slow to update.

Does anyone have any idea's? Thanks!

[Deleted User]

Don't worry about the drop in score. Experian scores react negatively to any change, whether it's good or bad, which is why they're not used for credit decisions.

Just ignore all your ratings, but check the detail on your files from time to time.

Candyapple

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.uk

Another thing to be aware of is that not every organisation reports back to all 3 credit reference agencies (some only do 1, some just Experian and Equifax) so if your mortgage / credit card account is not showing on Experian (or any others), you will need to write to them separately and ask for them to report your account history to Experian.

Are you also registered on the electoral roll at your new address?

From December to August local authorities publish a monthly register, known as a rolling register. The CRAs get the rolling registers each month and update the information on reports as quickly as possible, however it can still take a further 2-3 months to show on the update.

Nasqueron

Your credit file is important to lenders, they like stability such as paying off cards in full, no missed payments etc



Your credit score is like your horoscope - a nice novelty but only you see it and no real world relevance, that is to say, you will never get or be refused a credit application based on that score.


Ignore the score, leave it a while after moving before applying for anything and keep an eye on your credit file just in case there is any ID fraud e.g. from mail sent to your old address

James131994

Thanks for the replies! I've emailed Experian to tell them what information they have that is incorrect. I have registered on the electoral role, I think I did this in April (about a month after moving in). Good to know about the score, I have had a look on Noddle and it shows there is no recent negative or positive things 'impacting my score'. This was updated yesterday according to the report date so I assume all is good and I have not missed any bills etc, I just hope they are not late updating my report and have picked up on something Experian have missed. My Noddle score is pretty much bang on the UK average.

Hopefully this is just due to Experian not holding correct data on me combined with all the recent changes.

[Deleted User]

Experian may not hold details of your cards or mortgage because the lenders don't report to them.

This is why it's important to check all three files to get a full picture of your history.

[Deleted User]

James131994 wrote: »

My Noddle score is pretty much bang on the UK average.

There is no "UK average" score.

Ignore it. Completely. Everywhere.

jimbo26

James131994 wrote: »

Hi all,



I am just worried that I have possibly missed a payment with all the change of bills, utilities etc although

Just check your credit file, negative data will be easy to spot. Don't obsess over the score, it is not a true reflection of your credit worthiness. and will have zero impact on how lenders view you for credit.

gionnetto

James131994 wrote: »

However on Experian it went from 999 to 861 which to me seems way to much. Looking at my account with experian they don't seem to hold accurate information on me, saying I have no mortgage and no credit card (both incorrect) so maybe it is just down to that?

For your peace of mind, check if the lender(s) you have your mortgage and credit card with reports to Experian: https://www.moneysavingexpert.com/credit-cards/credit-reference/
If they don't, stop worrying! :j

If they do, or one of them does, keep in mind that it can take up to 6 weeks for your information to actually show on your Experian report.