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  • Sammy Jo
    • #2
    • 6th Dec 12, 3:53 PM
    credit checks lower score
    • #2
    • 6th Dec 12, 3:53 PM
    Unfortunately these things take time. Like a minimum of one quarter. Once you have made at lease 3 months of on time payments that will start to make your credit score crawl. Chances are that it went way down just for the inquiry on the car loan. I have heard (and noticed myself) that everytime your credit is being "looked" at it sneds a red flag for your score. Similar to when you go through a background check, a credit check sometimes goes hand in hand with that and can lower your score just by having it inquired upon. I noticed this for myself when I was job searching, doing several interviews and had a couple background checks done. Nothing else had changed as far as loan or credit card payment but my score was lowered because of the inquiries.

    If its ever possible make sure who ever you are working with whether it be an employer, loaner, etc. doesn't do a credit check if it isn't necessary. Hang on to a recent report and show that to them if you can get away with it.
    • Tixy
    • By Tixy 6th Dec 12, 4:03 PM
    • 31,062 Posts
    • 39,469 Thanks
    • #3
    • 6th Dec 12, 4:03 PM
    • #3
    • 6th Dec 12, 4:03 PM
    so I called credit expert who told me the best way was to get a credit card and clear the balance every month now I have done this for 2 months now but it has lowered my score too 444? How can I build my credit up? If I can't anything now?
    Originally posted by bumblebee xxx
    Don't get too focused on the score, nobody ever sees that except for yourself. Instead its best to look at the detailed report.
    Using a credit card and repaying in full each month will help you build up a good credit history, and over time this will help you demonstrate to other potential lenders that you are managing credit responsibly.
    Obviously do make sure you always make the minimum payment to your card on time every month for it to be credited by the due date. If you did miss a payment or pay late this will have a negative impact on your file.
    A smile enriches those who receive without making poorer those who give

    or "It costs nowt to be nice"
  • stupot_99
    • #4
    • 7th Dec 12, 3:39 AM
    • #4
    • 7th Dec 12, 3:39 AM
    I went from about a 200 ish score to 903 in the space of about 6 months yet when i use the experian match up thingy it only ever comes back with a vanquis card. I havent applied as i dont see the need. I used a capital one card that has a 200 limit and pay off every penny each month. Dont think the score really matters much but its nice to see green instead of red.
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