Credit score 8 December 2022 at 1:36PM in Credit cards 4 replies 128 views

sargii1958

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

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

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

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

sargii1958 said:

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:

https://www.moneysavingexpert.com/loans/credit-rating-credit-score/?_ga=2.88787483.1885924796.1665572743-634991903.1618095468&_gl=1*14ouetq*_ga*NjM0OTkxOTAzLjE2MTgwOTU0Njg.*_ga_X74CWQS9F0*MTY3MDQ5ODU2Ny4yNTkuMS4xNjcwNTA3MzA0LjguMC4w

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.