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To wonder why the fuck my credit score is dropping

(8 Posts)
FlowersAndShit Wed 27-Apr-16 22:36:44

when it should be going up? I moved out of my mum's nearly a year ago, got my own place and bills. When I first moved in my score with Noddle was around 600. I pay all of my bills on time, no debts, have applied for a credit card to build credit history and been accepted 2 months ago but not used it yet. My score is now 550!!!
What the hell is going on? sad

Thewinedidit Wed 27-Apr-16 23:05:13

You've only been on the electoral role a short time at your new address I assume and I think this negatively impacts your score.

katemiddletonsnudeheels Wed 27-Apr-16 23:06:29

Use the credit card for something small (fill up a tank of petrol every month) and lay it off in full and your score will improve smile

Tobebythesea Wed 27-Apr-16 23:07:21

I would say it's because you have applied for and received a new source of credit. Your source should improve once you have used the card and the bank can see you are trustworthy and successfully pay back credit.

Tobebythesea Wed 27-Apr-16 23:07:41


Ginkypig Wed 27-Apr-16 23:13:50

Make small regular purchases then repay in full each month it should start climbing

FlowersAndShit Wed 27-Apr-16 23:20:06

Thanks, I'll have to start using it. How long until it starts to go up if I use it and pay it off in full?

smellylittleorange Wed 27-Apr-16 23:27:30

I would have a look on Money Saving Expert Forum - there is lots of chat on there about building credit etc. They do also say that the "score" is effectively meaningless..

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