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Credit score

Can someone explain to me why my credit score can go down because I am not utilising all my available credit ??
Seems daft to me


  • fatbelly
    fatbelly Posts: 20,946 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    I guess it's just marketing - trying to encourage you to take out more credit.

    I don't even bother looking at the score
  • grumbler
    grumbler Posts: 58,629 Forumite
    Name Dropper First Post Photogenic First Anniversary
    edited 8 December 2022 at 2:48PM
    Ask those who calculate this mythical "credit score" that nobody uses. All lenders use your credit history and their own scoring system that they keep secret.
  • Ebe_Scrooge
    Ebe_Scrooge Posts: 7,320 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Your credit score usually goes down in response to any change in your credit circumstances, whether good or bad.  And will steadily rise over a period of stability.
    It also goes down when the weather turns colder, and when a butterfly flaps its wings in the Philippines.
    Seriously, pay no heed to it, it is never used - nor even seen - by any lender.  You just need to check that the underlying data are factually correct - this is all a lender looks at, and is all that matters.
  • cymruchris
    cymruchris Posts: 5,365 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Can someone explain to me why my credit score can go down because I am not utilising all my available credit ??
    Seems daft to me
    Have a read of the sticky post at the top of the credit score forum - it links to this article:


    It's only you that ever sees the score as a very vague and general indicator of your perceived creditworthiness. Nobody else will see it. Ever. Full-stop. 

    Focus on keeping a good credit history rather than looking at a randomly changing number. 
    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!
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