Octopus and my Credit Score

marcuus50

Hi all, I was transferred to Octopus Enery when Avro ceased trading last year. I have since had a notification fro Credit Karma that my score had declined. I logged in to find out why and it is because Octopus Energy have set up a new account and are reporting payment history etc as though it is a credit account.
I have not knowingly consented to this, nor did Avro do this previously. I have never known an energy provider do this and the opening of this account has negatively affected my credit score (with Credit Karma advising I not open any more for 6 months).

I havent signed a credit agreement and therefore cannot understand why a credit account has been added to my report.

Has anyone else had the same issue?

BeerSavesMoney

I’m with Octopus too and it shows up on my report, from past experience I know OVO report to credit reference agencies as well and currently I’m with United Utilities for water that do the same. 

I don’t think a Utility account would show up as a negative when applying for credit unless of course you go into debt.

You’ll probably get a better answer to this in the Credit File & Ratings section of this forum.

MWT

There is nothing unusual in energy suppliers reporting to the credit agencies, you are using energy on credit and paying for it later...

The credit scores you see on these sites are very artificial and do not have any real meaning to lenders who will do their own scores and care more about what is on the credit file, they never see the fake score the sites show to you...

meinnit

It's possible that Octopus use the same credit agency as Credit Karma which is why you're only just seeing an energy account on your credit report. Avro may have used an agency not covered by Credit Karma

Merlin139

Just looked at my report with KC and Octopus are showing. It shows OK for November. Will be interesting to see how this progresses as the DD Octopus have set up will only take money as and when they get round to billing me?

Based on whats happening at the moment I can't see that happening soon!