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big drop!

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Hi, i had a 999 experian score, i took a new mortgage 4 months ago and a £13k personal loan, i also have £1500 on a credit card all with santander. My score has dropped to 722.

My partner has recently done the same thing at the same time and hers is still 988.

Why has mine dropped so much i haven't missed any payments etc 
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  • mr_stripey
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    what happened to ZX81? Not seen him around recently. This would be right up his street!

  • cymruchris
    cymruchris Posts: 5,323 Forumite
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    Your history prior to your changes will have an impact on the way the magic number goes up or down. The number moving down is not something to be concerned about - and to have a rating of 999 isn't something you need to worry about either. Lenders are only interested in your history, your debts to income ratio, how you manage your credit card, whether you pay in full every month, whether you often carry a balance, the list of what they look at is as long as your arm. (As mentioned above - it might be the cold weather has made yours go down, as you're spending more time outside than your partner! - and yes obviously this is a tongue in cheek comment, as you're one of the many that come in a blind panic wondering why the number has moved, when in reality it doesn't matter in the slightest). 
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • col81
    col81 Posts: 335 Forumite
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    ok thank you for the advice. I am going to clear the £1500 credit card and then just have the loan for my car and mortgage 
  • [Deleted User]
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    what happened to ZX81? Not seen him around recently. This would be right up his street!


    He seems to have deleted his account -  or it's been deleted for him, this is a massive blow to this forum because his advice was invaluable  😞


    For Reference To All Members -
    Sometimes, when posters ask questions answers aren't always what they want to hear - somebody will report it (usually as being 'unfriendly' ) and after so many 'reports'  that helping member (usually the most valuable) gets banned.
    Not saying this is definitely the case but this scenario is a frequent occurrance.
  • MrFrugalFever
    MrFrugalFever Posts: 1,234 Forumite
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    edited 18 January at 9:20PM
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    what happened to ZX81? Not seen him around recently. This would be right up his street!


    He seems to have deleted his account -  or it's been deleted for him, this is a massive blow to this forum because his advice was invaluable  😞


    For Reference To All Members -
    Sometimes, when posters ask questions answers aren't always what they want to hear - somebody will report it (usually as being 'unfriendly' ) and after so many 'reports'  that helping member (usually the most valuable) gets banned.
    Not saying this is definitely the case but this scenario is a frequent occurrance.
    Spot on, I had a post removed by MSE because I had stated the obvious. I’m guessing the OP didn’t like my frank response.
    Save £5k in 2024 challenge #32
    Saved Total = £1,560.26 / £5,000

    Secured/Unsecured loans x 0
    Credit Cards x 6 (total limit £24,250)
    Creation FS Retail Account x 1
    0% Overdraft x 1 (£250)
    Mortgage x £140,250
    Debt = £549.00 (0%APR due 22nd July 2024)

    Charity fundraising goal for 2024 = £1,000 for animal rehoming / dog fostering etc
  • MalMonroe
    MalMonroe Posts: 5,783 Forumite
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    what happened to ZX81? Not seen him around recently. This would be right up his street!

    I thought zx81 was female?? But yes, not been seen for a while. 
    Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.
  • mr_stripey
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    MalMonroe said:
    what happened to ZX81? Not seen him around recently. This would be right up his street!

    I thought zx81 was female?? But yes, not been seen for a while. 
    My mistake - I should have said what happened to "them" since I did not know anything about their gender.


  • Ebe_Scrooge
    Ebe_Scrooge Posts: 7,320 Forumite
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    edited 14 November 2022 at 11:10AM
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    I have been wondering the same thing for a few weeks.  I noticed that he/she shows up as "deleted" rather than "banned", so assume they left voluntarily for whatever reason.  But a sad loss to the forum, their advice was always spot-on.
    Oh, and to the OP - bear in mind that not all lenders report to all 3 Credit Reference Agencies.  So it may be something as simple as the lender your partner used doesn't report in to the same CRA as yours does.
    But as previous posters have said, the score you see is meaningless, and will drop in response to any change in your credit circumstances, whether good or bad.  Lenders will look only at the underlying data, and create their own internal score based on the data.  The criteria they use in their internal scoring algorithms is confidential and commercially sensitive, so no-one will know how their scoring works.
  • MrSilk
    MrSilk Posts: 1,507 Forumite
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    I made one new application last month and my score on Clearscore dropped 80 points, am I bothered? No. The score is meaningless and only I see it!. 
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