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Credit 'scores'
terrence45
Posts: 132 Forumite
2 years post bankruptcy and a credit builder credit card on the go (with a low limit).
Just had my latest Noddle/Credit Karma credit report and it's gone from 555 to 507 in the space of a week, yet nothing has changed!
It was 555 for weeks and weeks and now suddenly it's gone down by 10%, yet literally nothing has changed. Am I to assume this number, perhaps the whole credit scoring system, is an inaccurate sham?
Just had my latest Noddle/Credit Karma credit report and it's gone from 555 to 507 in the space of a week, yet nothing has changed!
It was 555 for weeks and weeks and now suddenly it's gone down by 10%, yet literally nothing has changed. Am I to assume this number, perhaps the whole credit scoring system, is an inaccurate sham?
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Comments
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terrence45 wrote: »Am I to assume this number, perhaps the whole credit scoring system, is an inaccurate sham?
Not a sham but rather a randomly generated number produced for amusement purposes only. It is not a factor in lending decisions.0 -
Have to agree with MEM62...."scores" are just random numbers most services seem to pull from fresh air!
most companies now use in house credit applications now anyhooNot quite a newbie as you think
;) (the member formally known as philnicandamy!)
FINALLY a qualified CAB debt caseworker 2015..:p
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