Universal Credit

Melanie_Lloyd

My daughter lost her 3 gig economy jobs in 24 hours and has had to resort to applying for Universal Credit. She is very concerned that it may adversely affect her very good credit rating. Does anyone know if that is the case? 

eskbanker

Other than both having the word 'credit' in them, there's no correlation between credit ratings and claiming Universal Credit.

Having said that, her income will be taken into account if/when applying for any credit products, so if that's reduced then that'll potentially affect her ability to obtain new or more credit, but that's more to do with lender algorithms than the ratings invented by the credit agencies. 

Melanie_Lloyd

Thank you x

maxximus75

As long as she doesnt miss any re-payments she may have, then her credit history will remain ok.