Credit score dropped 100pts on ClearScore??

18 Posts

Hi
Between June and July this year my credit rating on ClearScore has dropped from 532 to 414 despite my debt actually decreased and all payments being made on time.
During this time the only change that has been made is that I took out a new credit card to do a balance transfer of £2k. Since then my debt on that has dropped significantly but my credit limit has gone from £13 to to £21k (the £2k my only short term debt).
Between June and July this year my credit rating on ClearScore has dropped from 532 to 414 despite my debt actually decreased and all payments being made on time.
During this time the only change that has been made is that I took out a new credit card to do a balance transfer of £2k. Since then my debt on that has dropped significantly but my credit limit has gone from £13 to to £21k (the £2k my only short term debt).
Is it normal for this to have dropped my credit score this much? I’d never have done the balance transfer has I realised.
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Replies
Credit report scores go up and down with any change.
Double check payment history and ensure your accounts are right. The balances will probably never tally with statements due to monthly reporting date by companies and when your new report is generated.