Why has my score reduced

The balances will normally be the statement balances roundedup to the pound for credit cards. Sometimes it will be the balance taken on the last day or first day of the month.

Who do you have accounts with? I may be able to tell you the pattern.

For example Halifax credit card is the statement date.
HSBC current account balance is last working day of the month.
First Direct current account is the last working day of the month balance
Santander Credit card is the first of the month.

I think CreditWise is just a CapitalOne tool to sell more of their products

There is a huge score bashing squad on MSE. Fact of the matter is that the score is reflective of your credit history. Its their own interpretation of your credit history. It is not random, it may not be used by creditors but they will have their own credit 'scores' or risk 'scores'.


This question is how these credit scores from the credit agencies compare with those from creditors. There needs to be a pieces of work done here.

Smellyonion wrote: »

This question is how these credit scores from the credit agencies compare with those from creditors. There needs to be a pieces of work done here.

Ditto on this!

It works like caring about people's opinions. It's generally not a good idea to care about what people think of you unless somebody is checking your references for a job offer :rotfl:

Different CRAs score you differently - even with the same information - because they assign different weights to the same information, pretty much like your job references do.

If the lender you want an account with checks, for example, TransUnion it is because they think (right or not, ligit or not) that TransUnion gives them a better picture of the kind of borrowers they want. And therefore you should care of what's on your TransUnion report as well, if you want that specific account.

If I know my credit file is bigger on one CRA, I'll apply to lenders that check that one primarily (or exclusively). In other words, you don't put your art teacher as a reference for a job that isn't creative. It just makes sense.

!!! wrote: »

People who are bankrupt get a 999 score on Experian - how is that someone who is worthy of lending money/credit to?

That is precisely what I was saying.

Assume you got bankrupt 2 years ago and then you have 2 years with no default.
The sheer facts are:
1) you messed up big 24 months ago
AND
2) you straightened up ever since.

One CRA primarily sees it as "you messed up big", whereas the another sees it as "you straightened up ever since". Same facts, different weights.

Take the Electoral Roll as an example. Experian sees being on the Electoral Roll for 9 months as "you got a stable place", Equifax as "you've just recently gotten stable".

Hence, if a lender checks Experian, it might give you a chance, if it checks Equifax it will not give you a chance (yet).