Young Person Checking Credit Score.

LeonAccount

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

[Deleted User]

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

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.

DCFC79

You should get into the habit of checking your report on a regular basis.

System

Deleted_User wrote: »

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.

[Deleted User]

beany_bot wrote: »

Just FYI Noodle is "Credit Karma" now.

So is 'Noddle'.

System

Deleted_User wrote: »

So is 'Noddle'.

omg... in my head i've been pronouncing it NOO-DLE for years!!
So it was always pronounced NOD-EL?

nick74

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!

LeonAccount

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

[Deleted User]

LeonAccount wrote: »

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

LeonAccount wrote: »

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?