Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To wonder why the fuck my credit score is dropping

7 replies

FlowersAndShit · 27/04/2016 22:36

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

OP posts:
Thewinedidit · 27/04/2016 23:05

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 · 27/04/2016 23:06

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 :)

Tobebythesea · 27/04/2016 23:07

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 · 27/04/2016 23:07

*score

Ginkypig · 27/04/2016 23:13

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

FlowersAndShit · 27/04/2016 23:20

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?

OP posts:
smellylittleorange · 27/04/2016 23:27

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..

New posts on this thread. Refresh page
Swipe left for the next trending thread