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Credit rating and loan application
mesler585
Posts: 1 Newbie
Hi all,
beem working hard to get my score up as it dropped to poor late last year, got it up to fair and then applied for a loan today as a joint application with my wife. Logged into Experian to see my score has dropped now because of this and is now poor.
beem working hard to get my score up as it dropped to poor late last year, got it up to fair and then applied for a loan today as a joint application with my wife. Logged into Experian to see my score has dropped now because of this and is now poor.
My question is this; does the score drop after the lender looks at my file or during or before etc? Just annoyed that score has dropped after working hard to get it back up.
1
Comments
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Your "score" has dropped as you've made an application for credit. That's how the system works. Positive events lift it upwards, negative ones down. Don't apply for further credit. Maintain good account xconduct. Your "score" will progressively improve.
Little point in becoming obsessive about your score. As it's of no value to organisations that use your data. They'll use their own criteria to assess any application you make.0
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