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Young Person Checking Credit Score.

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Hello, Im currently a student studying at university i would like to know if there is any disadvantage for checking my credit score early, before i am required to use the score.

I would like to check my score just out of curiosity to see if anything comes up. If so which service/website do you recommend to check the score on?

Another question which is slightly related. I currently have 2 bank accounts and would like to open up a 3rd to try out Monzo's mobile making services. So i was wondering if having multiple bank accounts would affect my credit score?

Thank you,
Leon
«1

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 27 June 2019 at 5:43AM
    Use Clearscore, MSE credit club and Noddle.

    Ignore the scores in each as they're unrelated to your chances of getting credit and not used in lending decisions. Lenders will look at the history of your accounts and other seats in your files.

    If you open a new account, lenders will see it when they search your file. How they interpret that depended on your wider file and their risk criteria. In it's own right, a new current account is generally no cause for concern.
  • Dobbibill
    Dobbibill Posts: 4,191 Ambassador
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Name Dropper
    Check all 3 CRAs that zx81 mentions. Different lenders use different CRAs so it's good practice to check all 3.

    Check your reports regularly to make sure it's accurate.

    Look at the report not the score. Checking your own report doesn't leave a footprint that others see.

    Opening a new account is fine - lots of applications in a short period of time doesn't look too good as it appears you are credit hungry.
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    If you can't be the best -
    Just be better than you were yesterday.
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You should get into the habit of checking your report on a regular basis.
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    Use Clearscore, MSE credit club and Noddle.

    Ignore the scores in each as they're unrelated to your chances of getting credit and not used in lending decisions. Lenders will look at the history of your accounts and other seats in your files.

    If you open a new account, lenders will see it when they search your file. How they interpret that depended on your wider file and their risk criteria. In it's own right, a new current account is generally no cause for concern.

    Just FYI Noodle is "Credit Karma" now.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    beany_bot wrote: »
    Just FYI Noodle is "Credit Karma" now.

    So is 'Noddle'. :)
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    So is 'Noddle'. :)
    omg... in my head i've been pronouncing it NOO-DLE for years!!
    So it was always pronounced NOD-EL?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • nick74
    nick74 Posts: 829 Forumite
    Part of the Furniture 500 Posts Name Dropper
    beany_bot wrote: »
    omg... in my head i've been pronouncing it NOO-DLE for years!!
    So it was always pronounced NOD-EL?

    Yep. I noticed you always called it 'Noodle' but just assumed you were doing it deliberately for comic effect!
  • Thank you for your responses.


    Am i right in thinking that using Clearscore, MSE credit club and Noddle (Credit Karma) won't appear or affect my credit score?


    Thank you,
    Leon
  • Thank you for your responses.


    Am i right in thinking that using Clearscore, MSE credit club and Noddle (Credit Karma) won't appear or affect my credit score?


    Thank you,
    Leon

    Again, nothing affects your credit score as it's not a factor used or taken into account when making lending decisions.
  • Candyapple
    Candyapple Posts: 3,384 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Am i right in thinking that using Clearscore, MSE credit club and Noddle (Credit Karma) won't appear or affect my credit score?

    Clearscore, MSE credit club and Credit Karma are the online free portals you use to gain access to your respective credit reports (see below):

    Experian: https://www.moneysavingexpert.com/creditclub
    Equifax: https://www.clearscore.com
    TransUnion (formerly Call Credit): https://www.creditkarma.co.uk

    Ignore the credit score. In the UK it means nothing and is just a marketing gimmick. The UK has stolen the term from the USA to confuse people because over there, it actually means something and they do use it to assess your credit worthiness. But in the UK, it means nothing, nada, zip, zilch.

    You need to concentrate on what is actually in your files. Your credit history.

    Are you on the electoral roll (does it show on all 3 files?)

    Do you have any other closed / settled accounts in your history?

    Do you have many other 'credit' accounts showing on your files (all 3?) such as bank account / mobile phone etc.?

    How many credit applications have you made in the last 12 months?
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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