My Credit Score Has Suddenly Gone UP by 461 Points...

cchurchill1986

I just checked my credit report on Experian, and it has suddenly shot up by 461 points.

What may have happened? The only thing I can think of is that a debt I had was 'settled' a few months ago and seems to have been wiped off my report completely as I cannot see it anywhere.

The only other account I have on there is an overdraft which I haven't used for many years, So maybe it is just showing I am very good with handled credit as my overdraft account is pristine.

I know many people say the score is useless, but I just want to know what could have happened.

robber2

They rebooted their random number generator perhaps?


Rob

sourcrates

Credit reference agencies are credit brokers, they up your score, you think oh, i may apply for a credit card, you do so, and get accepted, CRA gets paid their commision, simple buisness.

DCFC79

Someone at Experian got bored and typed 461.

[Deleted User]

Temperatures gone up this weekend.
That could be why.

SnowTiger

cchurchill1986 wrote: »

I just checked my credit report on Experian, and it has suddenly shot up by 461 points.

Have you been made bankrupt? :rotfl:

cchurchill1986

I don't get the joke lol. Surely it wold have gone down if I had been made bankrupt.

cchurchill1986

Ok, I get it, the score isn't what lenders look at. ...... But it must indicate on some level the health of my credit rating. It was terrible before I had this debt file removed from my report..... So it must be tied to the reports on my file in some way....

cchurchill1986

Also, forums in this modern age should just allow you to post an image.... What is this nonsense about linking a image URL in order to show the picture.....

Willing2Learn

cchurchill1986 wrote: »

Ok, I get it, the score isn't what lenders look at. ...... But it must indicate on some level the health of my credit rating. It was terrible before I had this debt file removed from my report..... So it must be tied to the reports on my file in some way....

You are correct, your 'credit score' is tied to the data held in your credit file. But the problem is that does not reliably provide an indicator for whether lenders will view your data favourably. After all, some lenders want you to have a 'settled' account in your credit history as it would fit with their lending criteria..


The joke about bankruptcy, is because we sometimes get users who either have been or are currently are bankrupt, getting an Experian 'score of 999'. They then post a question asking why they cannot get credit!!

cchurchill1986

Oh I see. Haha.

I have recently got a credit building credit card which I am using to help build an account with good credit history so that should help me regardless of what any numbers say.

Although the number seems to be nonsensical, it has made me feel a little bit better and hopefully I'll be able to get a small mortgage at some point in the not too distant future.