Clearscore changed their scoring.

bazzyb

Malkytheheed said:

Ebe_Scrooge said:

And the prize for the most pointless thread ever goes to ...........

Sorry, OP, no offence at all intended.  But what does it matter whether the scoring system is marks out of 10, marks out of 1000 or marks out of a gazillion?  The score is still as much use as a chocolate teapot as it ever was, and still means diddly-squat.

It's literally a large change to one of the three main credit reference agencies we all use. 

Clearscore is not a CRA. I don’t see how it can be seen as a “large change” whether it’s out of 1000, 1000000 or counted in magic beans. 

Clearscore use Equifax, they changed their scoring from out of 700 to out of 1000 back in April so this is just a case of Clearscore finally catching up - not that there is a great deal of relevance in the score. 

anotheruser

Ebe_Scrooge said:

The score is still as much use as a chocolate teapot as it ever was, and still means diddly-squat.

People say this but I should think those with a higher score will be able to get credit easier than those with lower scores.
The score is likely linked to whatever is going on with your credit file, even if different cmpanies have very different views.

If it's a guide, what's the harm?

Remember, the big campaign here about ignoring parking invoices?
Yeah, if you are parked on private land and they have clear signs, there's no way to ignore them if you over stay.  The campaign caused much confusion and only applied to a handful of cases.
This "ignore your credit score" is the same.

Ebe_Scrooge

anotheruser said:

Ebe_Scrooge said:

The score is still as much use as a chocolate teapot as it ever was, and still means diddly-squat.

People say this but I should think those with a higher score will be able to get credit easier than those with lower scores.
The score is likely linked to whatever is going on with your credit file, even if different cmpanies have very different views.

If it's a guide, what's the harm?

Remember, the big campaign here about ignoring parking invoices?
Yeah, if you are parked on private land and they have clear signs, there's no way to ignore them if you over stay.  The campaign caused much confusion and only applied to a handful of cases.
This "ignore your credit score" is the same.

I'm sorry, but I disagree.  It's well-documented that the score drops in response to any change in your credit circumstances, whether good or bad, and slowly climbs in response to a period of stability.  It's an old chestnut, but bankrupts often report a score of 999 (or whatever the maximum is), simply because their credit file has remained unchanged for many months.  The score is, at best, an indication of stability, nothing more.

The parking invoice analogy is somewhat misguided.  The laws about private parking have gone through many changes in recent times, and what was once sound advice is no longer applicable - and the guidance on the parking forum has been updated to reflect this.

Dandytf

Today's the day 805/1000.

Less thanks Perfect, though good enough ending 2021.

thaks

FreeFallerSaver

Dandytf said:

Today's the day 805/1000.

Less thanks Perfect, though good enough ending 2021.

thaks

But honestly, it really is meaningless and completely arbitrary.

By way of a genuine example, my score stuck at 525 out of 700 for about 18 months. I had no need to apply for any credit for ages, so it never changed - whether up or down. Yet all the way through that, Experian scored me 999.

In the last few months, I've remortgaged after my deal expired, I've applied for a second Virgin card to take advantage of a 0% rate and shift some debt, and I've set up three separate current accounts purely to take advantage of switching incentives (something I'd never done before - it's great, by the way). As a consequence, my score started dipping, and at about 11pm last night it was 460 out of 700. So let's call that 66% 'creditworthy' for want of a better word. Today, on the new scale, it's 988 out of 1000 - or c. 99% 'creditworthy'. Which is completely inconsistent and absolute nonsense.

I really couldn't care less about scores. I have ClearScore, Credit Karma and MSE Credit Club purely to check for free what's actually going on my credit file, that it's all correct and that there's nothing spurious. That's all I'm bothered about 

MrFrugalFever

Mine had updated when I logged in to, I connected my bank accounts (2 x NatWest) for the affordability bit and apparently my loan has been classed as a payday loan 😮😮 it most definitely isn’t!

MaryNB

anotheruser said:

Ebe_Scrooge said:

The score is still as much use as a chocolate teapot as it ever was, and still means diddly-squat.

People say this but I should think those with a higher score will be able to get credit easier than those with lower scores.
The score is likely linked to whatever is going on with your credit file, even if different cmpanies have very different views.

If it's a guide, what's the harm?

Remember, the big campaign here about ignoring parking invoices?
Yeah, if you are parked on private land and they have clear signs, there's no way to ignore them if you over stay.  The campaign caused much confusion and only applied to a handful of cases.
This "ignore your credit score" is the same.

It can create a false sense of security. My friend was certain he would be granted a loan he could easily afford because of a 900+ experian score. He was rejected because he didn't meet his lender's criteria. 

Alex9384

Mine is now back to the old design and the scale is out of 700 again.

sourcrates

Unlike other credit rating agencies, ClearScore doesn’t make money from charging for its credit report services.

It instead receives commissions on financial products (such as loans and credit cards) that are offered by other lenders and suggested to you through ClearScore based on your credit score and history.

One possible reason for the change in scoring, would be so that more people are included with a higher rating, which in turn may lead to more uptake of cards/loans etc.

Its all about making money isn`t it, you may have a good credit history, your score may or may not reflect that.

[Deleted User]

FreeFallerSaver said:

Dandytf said:

Today's the day 805/1000.

Less thanks Perfect, though good enough ending 2021.

thaks

But honestly, it really is meaningless and completely arbitrary.

By way of a genuine example, my score stuck at 525 out of 700 for about 18 months. I had no need to apply for any credit for ages, so it never changed - whether up or down. Yet all the way through that, Experian scored me 999.

In the last few months, I've remortgaged after my deal expired, I've applied for a second Virgin card to take advantage of a 0% rate and shift some debt, and I've set up three separate current accounts purely to take advantage of switching incentives (something I'd never done before - it's great, by the way). As a consequence, my score started dipping, and at about 11pm last night it was 460 out of 700. So let's call that 66% 'creditworthy' for want of a better word. Today, on the new scale, it's 988 out of 1000 - or c. 99% 'creditworthy'. Which is completely inconsistent and absolute nonsense.

I really couldn't care less about scores. I have ClearScore, Credit Karma and MSE Credit Club purely to check for free what's actually going on my credit file, that it's all correct and that there's nothing spurious. That's all I'm bothered about 

This is the silliness of credit scores - Dandy is up to 805 despite having cut his salary in half, has credit cards available of over twice his (now reduced) salary, expensive window finance, just taken out car finance plus carrying BT debts he couldn't pay off, all within a year or 18 months of leaving a DMP - utter nonsense the scores