Score tanked following fraud

AMac · 30 September 2019 at 11:23AM

Hi - I'm new here and in need of some help!

I am a member of MSE Credit Club. A few months ago, I was a victim of fraud on my Aqua (Newland) credit card. The account was taken over and a new address was fraudulently linked to my name. It took me several weeks to get this address removed from my credit report but this has now been sorted out.

However, my credit score appears to have dropped significantly (by over 100 points) from Fair to Poor.

I have made no other changes to my use of credit in that time other than a routine renewal of my home insurance. I have looked at all the FAQs and there is nothing I have done that can explain this drop. I allowed a full month to elapse to give Experian time to update my score but they have not.

This needs to be sorted out urgently. I am in the process of buying a house. My pre-approved mortgage offer with Santander was based on my credit report and score prior to the fraud happening. My house purchase will fall through unless I can get this sorted out.

Experian have directed me to MSE saying they won’t help MSE Credit Club members.

I emailed creditclub@moneysavingexpert.... a week ago and I've got nothing beyond an automated reply. This morning I tried another email credit-club@moneysavingexpert... which has prompted another automated reply from Experian.

I feel like I"m going in circles!

Any ideas?

Thanks for reading this far.

AMac

Willing2Learn · 30 September 2019 at 11:34AM

Has the data in your three credit files been fully cleaned up? Have you fully checked all three files? Have you also checked whether or not you have a CIFAS marker on your file?

Edit: And welcome to the forum AMac

[Deleted User] · 30 September 2019 at 11:45AM

AMac wrote: »

This needs to be sorted out urgently.

If the accounts have been removed from your files, then there is nothing else that needs to be sorted.

The score is just a comedy gimmick that only you see and doesn't have any bearing on credit applications.

sambaird · 30 September 2019 at 11:45AM

Your Mortgage offer will not have been based on your credit 'score'. It will have been based on your history. Scores go up and down like the sun rising and setting. A drop in score can be the result of any change - possibly including an address change.

I can understand why you are panicking - but take a deep breath.

Did you get any paperwork from Aqua confirming the fraud and the actions they have taken to resolve it? If not, I would definitely get them to put this in writing. Once you have this, there's no harm in contacting Santander and explaining the situation to them... obviously it's not your fault that you have been the victim of fraud. If you present them with evidence of the situation, and the outcome - then I can't imagine that they would withdraw the mortgage offer.

If as you say, there haven't been any changes in the way you use your credit (no missed payments / defaults / CCJs etc), then I'm sure you'll be fine... as Santander have based your offer on your account history... NOT THE SCORE.

[Deleted User] · 30 September 2019 at 12:18PM

Do nothing and stop panicing.

Your mortgage decision isn't based on a make believe number.

You'll be in for a shock when your score drops even more when you mortgage gets added

DCFC79 · 30 September 2019 at 12:27PM

Do nothing, make a cuppa, sit down, put the tv (or the radio if that's your preferred choice) on and watch a favourite program of yours while you can be safe in the knowledge your score isn't seen by lenders.

Score tanked following fraud

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