ClearScore rating dropped unsure why

Worriedandalone

Hi all. Would a new mobile phone contract drop my ClearScore score by 31 points? The first payment hasn’t been taken yet.

I’ve got a very high credit rating which was 983 but dropped to 952 this week. The only thing that’s changed is I took out a new phone contract last week. I knew they were doing a credit check and expected this to show up but wasn’t anticipating a drop of 31 points. Is this normal?
I still have a high score and don’t plan on making any big financial changes so this won’t impact me heavily but I’d like to understand things if I can. 

Thanks in advance.

Grumpy_chap

Worriedandalone said:

Hi all. Would a new mobile phone contract drop my ClearScore score by 31 points? The first payment hasn’t been taken yet.

I’ve got a very high credit rating which was 983 but dropped to 952 this week. The only thing that’s changed is I took out a new phone contract last week. I knew they were doing a credit check and expected this to show up but wasn’t anticipating a drop of 31 points. Is this normal?
I still have a high score and don’t plan on making any big financial changes so this won’t impact me heavily but I’d like to understand things if I can. 

Thanks in advance.

The simple answer is "yes, it could well do so".

The credit score itself is not an important number, but you are monitoring it to see if there are any movements in the score, which is perfectly good.
When you see any movement, the important thing to do is to look at the data they hold and check there is nothing you are not expecting or cannot understand that has changed in the data.

A new mobile phone contract will be reported as a new credit facility, so this will cause the score to move.
The score also moves for no apparent reason from month to month.  Mine does when the balance on my credit card at bill time varies even though I always pay the bill in full so the balance at bill time is immaterial.

macman

Your credit score is a fictitious number which lenders can't even see, so you can ignore it.
The weather has been colder recently, so it's bound to drop anyway.