Tracking your credit score

[Deleted User]

MissMollyJ wrote: »

I’m absolutely astonished to hear this. I’ve been tracking mine through credit club too and have been dismayed by it! I have saved and worked really hard to buy a house and as soon as I did my credit school went from in the 900s to in the 500s and it’s really freaked me out. I look at it and everything is positive and smiley faces apart from that I am utilising most of my credit at the moment.

I can’t believe it doesn’t mean anything after it’s been worrying me for months!

Welcome to the world of CRA credit score fear-mongering

sourcrates

MissMollyJ wrote: »

I’m absolutely astonished to hear this. I’ve been tracking mine through credit club too and have been dismayed by it! I have saved and worked really hard to buy a house and as soon as I did my credit school went from in the 900s to in the 500s and it’s really freaked me out. I look at it and everything is positive and smiley faces apart from that I am utilising most of my credit at the moment.

I can’t believe it doesn’t mean anything after it’s been worrying me for months!

They are very good at the hard sell you see, the words "we act as credit brokers" at the bottom of their adds and website pages, should tell you they are trying to sell you something.

"improve your credit score by taking this credit builder credit card"

and in the small print it states, "we receive a fee from blah blah for every application we introduce"

As far as propoganda concerning credit scores, is concerned, Joseph Goebbels would have been proud.

Willing2Learn

sourcrates wrote: »

As far as propoganda concerning credit scores, is concerned, Joseph Goebbels would have been proud.

I don't think the "business model", politics, policies and propaganda of the Nazi party is at all comparable to Experian...

DCFC79

MissMollyJ wrote: »

I’m absolutely astonished to hear this. I’ve been tracking mine through credit club too and have been dismayed by it! I have saved and worked really hard to buy a house and as soon as I did my credit school went from in the 900s to in the 500s and it’s really freaked me out. I look at it and everything is positive and smiley faces apart from that I am utilising most of my credit at the moment.

I can’t believe it doesn’t mean anything after it’s been worrying me for months!

Whats a credit school lol ?

sourcrates

Willing2Learn wrote: »

I don't think the "business model", politics, policies and propaganda of the Nazi party is at all comparable to Experian...

Lol, what about credit Karma ? No ?

Thrugelmir

MissMollyJ wrote: »

apart from that I am utilising most of my credit at the moment.

Potential lenders are going to be most interested in the debts you currently owe.

RelievedSheff

Sweet_Girl_x wrote: »

Hello,

Just wondered who checked their credit score regularly? I know the credit score itself has no meaning really but it's an idea of how lenders see you.

I am paying off debts and saving for a mortgage for early 2021 and I'm hoping to see my score increase every month.

Does anyone else do this? How much does your score tend to increase or go down by?

I am using the MSE credit club which uses Experian.

Thanks in advance
Natalie

We check our credit reports every month just to make sure that nothing is amiss.

We have recently moved and are in the process of paying down several credit cards and a HPI agreement, and counting down until a couple of CCJ's disappear off my file, so even though we know that the score means nothing we are keeping track of it and watching it steadily rise as our situation improves.

We hope that by the time we come to remortgage our house in 2021 we will have clean credit files and will be eligible for high street mortgage rates next time around so that we can drastically reduce the length of our mortgage while keeping the payments similar to what we have now