Score has gone from 900 to 270

SharkMoney

The last time I checked my credit score (2 years ago) it was over 900.
I have recently taken out a mortgage 3x the size of my previous mortgage.
I have checked clearscore for the first time today and it's giving me 270! I feel like something is wrong.
Everything says on track and there are no late payments ever. It says my credit score is stable.
The only thing that stands out is that it says "you have gone near your credit limit 3 times in the past 3 months"
This does not really make sense since my credit card is like £100-£200 monthly and the limits are £8000.
My new mortgage is not yet showing on the report.
Could it be the new mortgage has temporarily hit my score badly?

bradders1983

Its a good job the three digit score is utterly meaningless then, dont obsess over it.  Lenders dont see it and in essence the credit reference agencies make it up to try and sell you credit cards.

If the data (accounts, addresses etc...) are correct, thats all you have to worry about.

You really need to read the content of the opening post here - https://forums.moneysavingexpert.com/discussion/4974939/what-your-credit-score-really-means/p1   ...and click on the link.

PRAISETHESUN

As above - ignore the score and focus on the data. If you're managing your accounts well (ie. paying on time) then there is nothing to worry about. 

Also you should check your reports more regularly than every 2 years. You can request copies of your statutory reports for free from the 3 CRAs every month - make sure to check Experian, Equifax and TransUnion as they all contain slightly different data.

[Deleted User]

SharkMoney said:

Could it be the new mortgage has temporarily hit my score badly?

It's the weather.  

Like many other things, credit scores shrink when they get cold.

bradders1983

I think I recall someone on here changed their address and it went down 500 points. Ridiculous. Like I already said, ignore it.

DCFC79

As long as your details are correct, all accounts are ok eg nothing not related to you then thats all you need to be concerned with.

SharkMoney

Ok thanks all! I’m going to check another couple of apps and see what they say. Really unimpressed that this score is meaningless, surely this should be regulated 

[Deleted User]

It would be no more possible to regulate than horoscopes, fortune cookies or a magic eight ball. 

As long as people want to believe in these things, they'll keep being pedalled.

bradders1983

SharkMoney said:

Ok thanks all! I’m going to check another couple of apps and see what they say. Really unimpressed that this score is meaningless, surely this should be regulated 

Check a couple of other sites that also make up a three digit score, you mean?

bazzyb

Apart from what all of the above have said, you’re comparing 2 different scores from 2 different providers. The 900 score was presumably from Experian? Clearscore use data from Equifax and only goes up to 700. 

Ignore the scores. 

twhitehousescat

I have a 999 score listed on ebay , please send me £10 to ,,,,,,,,,,,,,,,,