monzo have ruined my credit score and won't help they just ignore me even the ceo does

Jleeuk

la531983 said:

Jleeuk said:

la531983 said:

Because it goes up and down for no reason. Bankrupts can have a "perfect score", again it is meaningless.

103 points is a big difference

I really dont know how many times it has to be said. I'll say it again though. The score, and any change in it, is meaningless.

I'l slowly get there 

la531983

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

And you have been told countless times its meaningless, so why would it matter if it only went up 70? Or 80? Or 90?

Nobody sees it. Not even the people you are applying for a business loan with.

MorningcoffeeIV

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

No.  You're not going to like this, so brace yourself........it will probably drop further. Because it's another change. And do you remember how scores are like snowballs, and the bit about the microwave and changes?

So just remember than a low score make no difference to anything. Say it loud and say it proud....

 "My score means nothing to me.....oh Vienna"

Jleeuk

la531983 said:

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

And you have been told countless times its meaningless, so why would it matter if it only went up 70? Or 80? Or 90?

Nobody sees it. Not even the people you are applying for a business loan with.

We posted our last comments at the same time, I said i'l slowly get there

Thanks to all for the lesson, I can stop worrying now...

Jleeuk

MorningcoffeeIV said:

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

The reason I am panicking is because I am in the process of going for a business loan and I know from past experience a low score makes a difference to everything

No.  You're not going to like this, so brace yourself........it will probably drop further. Because it's another change. And do you remember how scores are like snowballs?

So just remember than a low score make no difference to anything.

I may as well get loads of loans and credit cards and not pay, then I'l change my name and start all over again.... 

MorningcoffeeIV

Jleeuk said:

MorningcoffeeIV said:

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

The reason I am panicking is because I am in the process of going for a business loan and I know from past experience a low score makes a difference to everything

No.  You're not going to like this, so brace yourself........it will probably drop further. Because it's another change. And do you remember how scores are like snowballs?

So just remember than a low score make no difference to anything.

I may as well get loads of loans and credit cards and not pay, then I'l change my name and start all over again.... 

Why would you do that? Changing your name doesn't change you not paying for things.  You actually stay as the same person. It's not like Doctor Who.

Facts have a habit of being factual. Annoying, I know...

RAS

A low credit score means nothing in the UK. Hope you are not paying for this nonsense?
 
A bankrupt can have a perfect score. Someone who has a fully paid up mortgage, loads of savings who never uses credit will be about zero.

What matters is your credit records, you can download them for free via the links in the MSE guide.

Jleeuk

MorningcoffeeIV said:

Jleeuk said:

MorningcoffeeIV said:

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

The reason I am panicking is because I am in the process of going for a business loan and I know from past experience a low score makes a difference to everything

No.  You're not going to like this, so brace yourself........it will probably drop further. Because it's another change. And do you remember how scores are like snowballs?

So just remember than a low score make no difference to anything.

I may as well get loads of loans and credit cards and not pay, then I'l change my name and start all over again.... 

Why would you do that? Changing your name doesn't change you not paying for things.  You actually stay as the same person. It's not like Doctor Who.

Facts have a habit of being factual. Annoying, I know...

It was a joke, basically you've told me a low score means nothing to lenders and that it won't affect me getting finance so if that is the case and true then missing payments and not paying won't affect anyone getting credit 

Jleeuk

RAS said:

A low credit score means nothing in the UK. Hope you are not paying for this nonsense?
 
A bankrupt can have a perfect score. Someone who has a fully paid up mortgage, loads of savings who never uses credit will be about zero.

What matters is your credit records, you can download them for free via the links in the MSE guide.

Thanks, yes I am believing now what's being said to me. Luckily I have a perfect record no missed payments at all ever. Obviously just a big shock to wake up to and to see monzo wrongly reporting missed payments. I can stop worrying now 

MorningcoffeeIV

Jleeuk said:

MorningcoffeeIV said:

Jleeuk said:

MorningcoffeeIV said:

Jleeuk said:

MorningcoffeeIV said:

Because scores react negatively to change, like a snowball reacts to being shoved in a microwave. But neither credit scores nor snowballs will change how lenders see you.

Once the payment is allocated to your account, it will show as paid - assuming you did pay it correctly.

Ok I understand now, so once monzo erases that query my score will go back up at least 103 points whether it means nothing or it does 

The reason I am panicking is because I am in the process of going for a business loan and I know from past experience a low score makes a difference to everything

No.  You're not going to like this, so brace yourself........it will probably drop further. Because it's another change. And do you remember how scores are like snowballs?

So just remember than a low score make no difference to anything.

I may as well get loads of loans and credit cards and not pay, then I'l change my name and start all over again.... 

Why would you do that? Changing your name doesn't change you not paying for things.  You actually stay as the same person. It's not like Doctor Who.

Facts have a habit of being factual. Annoying, I know...

It was a joke, basically you've told me a low score means nothing to lenders and that it won't affect me getting finance so if that is the case and true then missing payments and not paying won't affect anyone getting credit 

You weren't paying attention in class, were you?

Repeat after me -

Missing payments  - bad.
Seeing a small number - irrelevant. 

Remember, this WILL be in the end of term exam.