confusion of credit file - MSE credit club/experian

robbb818

Morning guys
I am a member of the MSE credit club and received an email this morning telling me that my credit report had been updated.I have logged in and my credit score has dropped by about 100 points. On the summary page it says I have one or more missed payments however I have been through my report and have checked the activity for each account - each one is showing as up to date with no late or missed payments for 12 months. The summary didn't flag up any missed payments last month, or any month before that so I am confused!!! help!! 

[Deleted User]

It's nothing to worry about. The score isn't connected to your credit worthiness and can change for no particular reason. The alerts can be equally inaccurate.

If nothing negative appears, just carry on as normal.

Willing2Learn

This is a duplicate of the thread posted in the main DFW category and has already been answered.

@OP
Please don't make multiple identical threads as it can get confusing.


Welcome to the forum 

robbb818

Willing2Learn said:

This is a duplicate of the thread posted in the main DFW category and has already been answered.

@OP
Please don't make multiple identical threads as it can get confusing.


Welcome to the forum 

Sorry - can admin delete this. Lesson learnt

robbb818

Deleted_User said:

It's nothing to worry about. The score isn't connected to your credit worthiness and can change for no particular reason. The alerts can be equally inaccurate.

If nothing negative appears, just carry on as normal.

Cheers. It was more a case of me wanting to know if I had missed something without realising, but it doesn't appear that I have. 

robbb818

Just a couple of thoughts - 

We have been accepted for the 3 month payment holiday on a few accounts due to us being affected by the Covid-19 outbreak. I know that this isn't meant to affect credit files but I wonder if this is the cause of the summary page telling me that I have a missed payment? 

Another thought - Is the summary based on the credit report that I can access on my MSE credit club page, or does the summary update more regularly than the report? Just wondering if the missed payment ( whatever it is) is not yet showing on the actual report but is showing on the summary??

Thanks for your help so far

Fighter1986

The summary page is live I believe, whereas the credit report itself is only updated once a month.
You might need to wait until the next monthly update to see the change which is referred to on the summary page.
You are right in that taking a payment holiday under Covid-19 rules shouldn't appear as arrears on your credit file, but there is a possibility that your lender is mis-reporting the data. You may end up having to write to the lender concerned, including an excerpt of the entry on your credit file which you feel is wrong, explaining why you feel it is wrong, and request they correct the entry on your credit file.

This can turn into a bit of a battle, but don't give up. The government guidelines have made it clear that payment holidays authorised due to your being affected by Covid-19 shouldn't result in derogatory entries on your credit file. If one of your creditors has not adhered to this, you may need to play a bit of back and forth before they concede, but don't give up. They will concede eventually. They have a legal obligation under the GDPR. Remember you're in the right here, so long as the payment holidays had been formally agreed with your creditors before any payments were missed.