Credit Rating Dropped Massively

moscow17

Hi,



My credit rating dropped by 296 points.



The only change on my report, according to ClearScore, is:

A new credit search by Virgin has been added to your credit report

However, I also changed my address and put myself back onto the Electoral Roll under my new address.



I can only assume, since ClearScore said nothing about the address/voting roll, that this is due to Virgin. Will this return to normal quickly? Should I contact someone regarding this?


I am due to take out a loan soon and I cannot have this effect my chances.



Any help is appreciated.

Willing2Learn

Hi moscow17 and welcome to the forum

Ignore your score as lenders don't see it and don't use it either.

Your score would have probably dropped due to the recent change of address. Scores often go down if there are any significant changes. Just make sure you check all the hard data within your credit file to make sure everything is accurate.

Ben8282

If you are about to take out a loan and are concerned about that then why did you apply for credit now?
Ignore your credit score. It is a meaningless CRA marketing tool. However, a single hard credit search would not have had this effect.

[Deleted User]

No one sees or cares about the score or rating.

Well lenders don't anyway.