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  • FIRST POST
    • delpy1
    • By delpy1 4th Aug 18, 9:37 AM
    • 38Posts
    • 3Thanks
    delpy1
    Why has my score reduced
    • #1
    • 4th Aug 18, 9:37 AM
    Why has my score reduced 4th Aug 18 at 9:37 AM
    Hi Guys


    My score has reduced twice in the last week down by 7 then 14 for below reason

    One or more of your settled non-mail order credit accounts has been removed from your credit report.
    This has had a negative effect on your Experian Credit Score.



    Any ideas on how to reverse the drop in score, Ive also got two credit cards that have a zero balance should I use one of them or both and make small transactions on them and then pay off in full every month
    equifax score 457 and experian is now 902

    any help would be appreciated
    Last edited by delpy1; 04-08-2018 at 9:45 AM. Reason: live link
Page 1
    • zx81
    • By zx81 4th Aug 18, 10:09 AM
    • 19,041 Posts
    • 20,291 Thanks
    zx81
    • #2
    • 4th Aug 18, 10:09 AM
    • #2
    • 4th Aug 18, 10:09 AM
    The scores are made up and not of any interest.

    Simply ignore them.

    Use your cards regularly to maintain good credit history.
    • delpy1
    • By delpy1 4th Aug 18, 12:41 PM
    • 38 Posts
    • 3 Thanks
    delpy1
    • #3
    • 4th Aug 18, 12:41 PM
    • #3
    • 4th Aug 18, 12:41 PM
    The scores are made up and not of any interest.

    Simply ignore them.

    Use your cards regularly to maintain good credit history.
    Originally posted by zx81



    Thanks very much
    • SnowTiger
    • By SnowTiger 4th Aug 18, 1:56 PM
    • 3,470 Posts
    • 2,433 Thanks
    SnowTiger
    • #4
    • 4th Aug 18, 1:56 PM
    • #4
    • 4th Aug 18, 1:56 PM
    My score has reduced twice in the last week down by 7 then 14 for below reason

    One or more of your settled non-mail order credit accounts has been removed from your credit report.
    This has had a negative effect on your Experian Credit Score.
    Originally posted by delpy1
    I'd guess Experian see it like this: a settled account shows you've had credit and settled the debt; that's a good thing because it demonstrates to lenders that you pay what you owe. A record of that has now disappeared from your credit report. Your credit report now contains less evidence that you're a good payer, therefore lenders have less good information on which to make a lending decision.

    Ive also got two credit cards that have a zero balance should I use one of them or both and make small transactions on them and then pay off in full every month
    Originally posted by delpy1
    Use both cards. For both cards: stay within your limit; pay balance off in full after you receive statement and before due by date.
    • delpy1
    • By delpy1 4th Aug 18, 4:15 PM
    • 38 Posts
    • 3 Thanks
    delpy1
    • #5
    • 4th Aug 18, 4:15 PM
    • #5
    • 4th Aug 18, 4:15 PM
    I'd guess Experian see it like this: a settled account shows you've had credit and settled the debt; that's a good thing because it demonstrates to lenders that you pay what you owe. A record of that has now disappeared from your credit report. Your credit report now contains less evidence that you're a good payer, therefore lenders have less good information on which to make a lending decision.



    Use both cards. For both cards: stay within your limit; pay balance off in full after you receive statement and before due by date.
    Originally posted by SnowTiger

    Thanks for that as that makes sense, although the accounts that have dropped off my report where DEFAULT accounts from 6 years ago
    Last edited by delpy1; 04-08-2018 at 4:21 PM. Reason: spelling
    • zx81
    • By zx81 4th Aug 18, 4:29 PM
    • 19,041 Posts
    • 20,291 Thanks
    zx81
    • #6
    • 4th Aug 18, 4:29 PM
    • #6
    • 4th Aug 18, 4:29 PM
    That's one of Experian's lovable quirks. Any change, even a positive one such as the removal of a default, is seen as a bad thing.
    • delpy1
    • By delpy1 4th Aug 18, 4:32 PM
    • 38 Posts
    • 3 Thanks
    delpy1
    • #7
    • 4th Aug 18, 4:32 PM
    • #7
    • 4th Aug 18, 4:32 PM
    That's one of Experian's lovable quirks. Any change, even a positive one such as the removal of a default, is seen as a bad thing.
    Originally posted by zx81

    Cheers zx81, Im just trying to make sure my credit score is Ok so I can get a car on PCP, Oh the joys! I think I will stop looking at my credit reports, As you said the score does not make any difference
    • Willing2Learn
    • By Willing2Learn 4th Aug 18, 4:47 PM
    • 1,599 Posts
    • 1,212 Thanks
    Willing2Learn
    • #8
    • 4th Aug 18, 4:47 PM
    • #8
    • 4th Aug 18, 4:47 PM
    ...I think I will stop looking at my credit reports, As you said the score does not make any difference
    Originally posted by delpy1
    Do continue looking at all three credit reports. Check that all the data is correct. When you go for the car on finance, the lender will use the data held by one of the three CRAs, add it to the data you supply in your credit application, and then score you against their criteria and policies. It is really important that the data held by the CRAs is accurate and mistakes do happen.

    Edit: I should add, just in case you were not aware, that the 3 CRAs credit reports are all free. Available via MSE Credit Club (Experian), Clearscore (Equifax) and Noddle (TransUnion ex CallCredit)
    Last edited by Willing2Learn; 04-08-2018 at 4:53 PM.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • sourcrates
    • By sourcrates 4th Aug 18, 4:48 PM
    • 15,520 Posts
    • 14,606 Thanks
    sourcrates
    • #9
    • 4th Aug 18, 4:48 PM
    • #9
    • 4th Aug 18, 4:48 PM
    How can it reduce twice in a week, when its updated on a monthly basis ?
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
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    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
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    • delpy1
    • By delpy1 4th Aug 18, 4:52 PM
    • 38 Posts
    • 3 Thanks
    delpy1
    How can it reduce twice in a week, when its updated on a monthly basis ?
    Originally posted by sourcrates
    I'm paying 14.99 to Experian and it reduced from 923 to 916 on the 31/07 and dropped again today to 902 , maybe because one was July and the other Aug?Then again my equifax updates every day
    Last edited by delpy1; 04-08-2018 at 5:31 PM.
    • delpy1
    • By delpy1 4th Aug 18, 4:58 PM
    • 38 Posts
    • 3 Thanks
    delpy1
    Do continue looking at all three credit reports. Check that all the data is correct. When you go for the car on finance, the lender will use the data held by one of the three CRAs, add it to the data you supply in your credit application, and then score you against their criteria and policies. It is really important that the data held by the CRAs is accurate and mistakes do happen.

    Edit: I should add, just in case you were not aware, that the 3 CRAs credit reports are all free. Available via MSE Credit Club (Experian), Clearscore (Equifax) and Noddle (TransUnion ex CallCredit)
    Originally posted by Willing2Learn

    Cheers Im just waiting on call credit matching both eq and ex as they seem to be very slow at updating the credit details before I try for a car through Arnold clark I'm hopeful as I have been pre- approved for a car loan via Clearscore doing a soft search at a not bad APR
    • Willing2Learn
    • By Willing2Learn 4th Aug 18, 6:19 PM
    • 1,599 Posts
    • 1,212 Thanks
    Willing2Learn
    How can it reduce twice in a week, when its updated on a monthly basis ?
    Originally posted by sourcrates
    I'm paying 14.99 to Experian and it reduced from 923 to 916 on the 31/07 and dropped again today to 902 , maybe because one was July and the other Aug?
    Originally posted by delpy1
    Searches are recorded and updated on a daily basis. That could cause fluctuations to your score as Experian would say it was a negative having credit searches recorded. Just a guess. But as has been said before, the score is totally meaningless and lenders don't use it.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • MABLE
    • By MABLE 4th Aug 18, 6:59 PM
    • 3,641 Posts
    • 1,905 Thanks
    MABLE
    Mine went from 908 to 958 and no changes for the last month.
    • worried jim
    • By worried jim 4th Aug 18, 7:04 PM
    • 9,584 Posts
    • 14,763 Thanks
    worried jim
    I'm paying 14.99 to Experian and it reduced from 923 to 916 on the 31/07 and dropped again today to 902 , maybe because one was July and the other Aug?Then again my equifax updates every day
    Originally posted by delpy1
    Stop wasting your money!
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • delpy1
    • By delpy1 4th Aug 18, 7:07 PM
    • 38 Posts
    • 3 Thanks
    delpy1
    Stop wasting your money!
    Originally posted by worried jim
    Already cancelled Experian and in the process of stopping Equifax, I will use all the free reports instead
    • gionnetto
    • By gionnetto 4th Aug 18, 8:03 PM
    • 44 Posts
    • 9 Thanks
    gionnetto
    Mine went from 908 to 958 and no changes for the last month.
    Originally posted by MABLE
    It usually means one of these things:
    1) your revolving balance is below 30% OR
    2) your loan repayment is above 70%, OR
    3) any of your accounts is older than 6, 12 or 18 months
    • worried jim
    • By worried jim 5th Aug 18, 7:18 AM
    • 9,584 Posts
    • 14,763 Thanks
    worried jim
    It usually means one of these things:
    1) your revolving balance is below 30% OR
    2) your loan repayment is above 70%, OR
    3) any of your accounts is older than 6, 12 or 18 months
    Originally posted by gionnetto
    And there is also a "Y" in the day of the week.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • sparkey1
    • By sparkey1 5th Aug 18, 5:54 PM
    • 439 Posts
    • 193 Thanks
    sparkey1
    How can it reduce twice in a week, when its updated on a monthly basis ?
    Originally posted by sourcrates
    The reports obtained through MSE credit club, Noddle and Clearscore are single snapshots taken once in a month.

    The experian report changes when they receive an update from the lenders. That offers a daily snapshot. So on day 1, lender A may update. Day 2 no one updates so report stays the same. Day 3, maybe another lender updates and so forth.

    Credit cards, mortgages and current accounts normally update once per month with the CRAs, but of course they will possibly update on different days depending on who the credit is with. Searches and most pay day loans update daily.
    • delpy1
    • By delpy1 7th Aug 18, 7:51 AM
    • 38 Posts
    • 3 Thanks
    delpy1
    Hi all just checked my credit score with the credit Club and its 987, but my experian (subscription) score is still showing as 902, anyone had this before?
    • zx81
    • By zx81 7th Aug 18, 8:00 AM
    • 19,041 Posts
    • 20,291 Thanks
    zx81
    Yes. Lots of people.

    Ignore both in equal measure.
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