credit score low-some say missing payments but none show on report

5ilvs

Hi,

I have recently moved house and lost quite a bit in selling my old one which means we had to take a greater mortgage, coupled with being on mat leave my pay has decreased and so I am relying more on my overdraft.These are things I expected to see on my credit report and am confident I can increase the score when I return to work and my full wage.  However, some reports highlight a missed payment eg. my monzo app and the trans union credit report has me as super bad and lists missed payments as one of the reasons but I cant see any evidence of this missed payment anywhere on my credit files?
Any help??

molerat

It is likely highlighting that missed payments could be one of the factors in a poor score, it does not mean that is a factor in yours.  You need to ignore the score provided by the CRA sites anyway, it is meaningless and is not used by any organisation that would be entering into a credit arrangement with you.  If you are not showing any missed payments then your biggest negative is the consistent use of your overdraft facility, that is looked at as living beyond your means.

Mark_d

A low score on a credit report suggests that your credit history is poor.  This could be down to missed/late payments, cash advances on credit cards, not being on the electoral role at your current address for long...and various other things.

You should never ignore the score provided by the CRA.  Whilst this score is their opinion only, it is a rough and ready measure of the quality of your credit history.  It is true that lenders calculate their own scores using their own criteria and weightings however this does not make the CRA's credit score meaningless.

If your app/report says that missed payments are contributing to your low score then you could ask someone you trust to look over your report - they might spot something that you've missed.  Alternatively you could try calling transunion to ask for their help with this.

Nasqueron

Mark_d said:

A low score on a credit report suggests that your credit history is poor.  This could be down to missed/late payments, cash advances on credit cards, not being on the electoral role at your current address for long...and various other things.

You should never ignore the score provided by the CRA.  Whilst this score is their opinion only, it is a rough and ready measure of the quality of your credit history.  It is true that lenders calculate their own scores using their own criteria and weightings however this does not make the CRA's credit score meaningless.

If your app/report says that missed payments are contributing to your low score then you could ask someone you trust to look over your report - they might spot something that you've missed.  Alternatively you could try calling transunion to ask for their help with this.

You should absolutely ignore the score, it doesn't reflect anything of the sort - the number goes up or down with the wind, it reacts negatively to change e.g. paying off a loan even though that would be a good thing. The only important thing is to ensure all the data on the THREE CRAs (hence why the score is irrelevant as there are 3 and they don't agree with each other) is correct and monitor them for anything suspicious.