Credit rating decrease after defaults removed

sim2335

My credit has decreased my 2 points, but should have increased significantly because 2 defaults and a few missed payments just got removed and no other changes .

Other then 2 loan rewritten

Plus I have no other defaults ccj or anything 

How can I find out why it got worse

Checked on credit karma

[Deleted User]

It's normal for your scores to drop with any change, whether good or bad.

Just ignore the scores altogether - you and lenders are only interested in the data in your files 

Thrugelmir

sim2335 said:

Other then 2 loan rewritten

Could you clarify what you mean with some further explanation. 

MalMonroe

My credit score has just dropped by four points, which I thought was good! Yours only dropped by two. As we all know now, only you can see the credit score on your credit report. Like a lot of other people's, my score goes up and down and sometimes stays the same. I use the mse Experian credit club file as well as Clearscore and Credit Karma to check. In my case they're never the same - and every time something happens it goes one way or the other. I recently paid off quite large balance on my credit card and thought my score would go up but it went down. There's always next month. Don't worry is my advice.

The_Fat_Controller

If you've restructured loans then affordability of further credit may have been seen to have reduced.
My "score" changes for no apparent reason at all as my income and debt are unchanged month to month.
It seems like they roll a dice once a month, give you a new score and send an email may to annoy you, along with their latest offers of course !

sim2335

Both loans rewritten after payment holiday that’s only other change

other changes are postive like credit card paid fully paid off.

would it be worth paying ex prime 14.99 for them to look into it further?

ratechaser

sim2335 said:

Both loans rewritten after payment holiday that’s only other change

other changes are postive like credit card paid fully paid off.

would it be worth paying ex prime 14.99 for them to look into it further?

Only if you have more money than sense

[Deleted User]

sim2335 said:

Both loans rewritten after payment holiday that’s only other change

other changes are postive like credit card paid fully paid off.

would it be worth paying ex prime 14.99 for them to look into it further?

They won't look into anything, paying them £15 won't give you anything except a change in a score that the people you are paying generate themselves. Lenders never see your public score, they have their own scoring system based on your data, a scoring system you will never see and never be able to change. Simply keep using your credit responsibly, paying off debts, using card responsibly and paying off in full.

molerat

With me in one month, across the 3 agencies, one score went up, one went down and one stayed the same.

crispy99

sim2335 said:

My credit has decreased my 2 points, but should have increased significantly because 2 defaults and a few missed payments just got removed and no other changes .

Other then 2 loan rewritten

Plus I have no other defaults ccj or anything 

How can I find out why it got worse

Checked on credit karma

I gonna say it’s because the defaults have been on your account for over 6 years which make up part of your “average account age”. . When the default disappears so does the 6-10 years of account history too. Seems odd the way this works but it won’t take long to recover now, don’t open any new accounts, or close any long existing accounts you have either. 

sim2335

crispy99 said:

sim2335 said:

My credit has decreased my 2 points, but should have increased significantly because 2 defaults and a few missed payments just got removed and no other changes .

Other then 2 loan rewritten

Plus I have no other defaults ccj or anything 

How can I find out why it got worse

Checked on credit karma

I gonna say it’s because the defaults have been on your account for over 6 years which make up part of your “average account age”. . When the default disappears so does the 6-10 years of account history too. Seems odd the way this works but it won’t take long to recover now, don’t open any new accounts, or close any long existing accounts you have either. 

The defaults were only on my file for 2-3 months as bank error so they removed them.