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recovering
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by recovering » Mon Mar 26, 2018 2:36 pm
So in my wuest to start my new chapter I have been following instructions on how to repair/ improve my credit score! Experian replied to my query about my IVA showing on there.
I have now sent them my completion paper work
On clearscore it now shows an improvement in my score ... good!
On noddle the one account showing default seems to have gone... good
I have used my new credit card for fuel and paid it off in full
However the score on experian has dropped?????
I am finding the whole thing a right pain!!! I enquired why and have had a standard list of reasons sent back none of which make any sense
So i am wondering if the new credit card has actually made my score drop? In which case why? And why only on experian??
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Ryan
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by Ryan » Mon Mar 26, 2018 3:00 pm
Credit scoring is a very strange beast! Having not taken much credit in the last 6 years and with the defaults, IVA etc your score would have been low - taking any new credit (so the credit card) can cause a drop in your score, this will usually however rectify itself in a month or two. Patience is a virtue unfortunately where credit scoring is concerned.

Regards
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Foggy
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by Foggy » Mon Mar 26, 2018 3:03 pm
First of all credit scores are, in reality, meaningless -- creditors never see a "score" just the reality of your history. In my case my score was up and down for about 6 months (only by 5 or 10 points). Get a credit card --- score goes up. Low credit limit -- score goes back down. Get more cards / higher credit limit -- score goes up. Only use 10% of available credit -- score goes down !! You can't win ! Ignore scores (unless they do something drastic).
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kallis3
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by kallis3 » Mon Mar 26, 2018 3:32 pm
Mine go up and down like a yo-yo and each score is different, I'm not overly bothered now.
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Shaun Vickery
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by Shaun Vickery » Mon Mar 26, 2018 4:54 pm
There's really no need to be concerned. In reality lenders have their own ways of assessing your creditworthiness. It's the information contained within the report they will be interested in.The credit score provided by the agencies themselves is an arbitrary figure.
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recovering
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by recovering » Mon Mar 26, 2018 5:14 pm
:D thanks all! I did say I was going to chill about it all! Bit of an epic fail!!! I am only bothered about getting a car later this year really! I will practice not being bovvered!!!! :D
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MerlinL14
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by MerlinL14 » Mon Mar 26, 2018 5:23 pm
Hi recovering, I had the same dilemma. I got everything off my reports and waited a few months and thought my rating would go up, it went down. I think it was because I just didn't have any records on my report so there were no positives to show. Now it is excellent with near top scoring points. I am not blasé about it though and still budget like I am broke.
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recovering
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by recovering » Mon Mar 26, 2018 5:59 pm
:D
MerlinL14 wrote:
Hi recovering, I had the same dilemma. I got everything off my reports and waited a few months and thought my rating would go up, it went down. I think it was because I just didn't have any records on my report so there were no positives to show. Now it is excellent with near top scoring points. I am not blasé about it though and still budget like I am broke.

I have been pretty good over the first month got paid today and still had what would have been my IVA payment and a bit more left!
I have to ring the Co op to get my ISA restarted as I didn’t put anything in it last year I have to wait for my voice to return as I have Laryngitis :D
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kallis3
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by kallis3 » Mon Mar 26, 2018 6:08 pm
Feel better soon!
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recovering
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by recovering » Mon Mar 26, 2018 6:42 pm
kallis3 wrote:
Feel better soon!

Thanks! I have has it a week already it is so annoying I have been told to stop talking... I am no chatterbox but it’s really hard!!!
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kallis3
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by kallis3 » Mon Mar 26, 2018 6:49 pm
:)
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