Why is my credit score so low?

[Neverknowing]

My partner and I are trying to sort a mortgage for what feels like forever I am only 20 so I suppose I don't have a lot of things to base my credit on. I moved out at 17 and have paid my own phone bill since 18 and have never missed a payment. I have also paid water, council tax etc and have also never missed a payment. I've just checked my credit score (assuming it would be high) and it's 300? Does anyone know why this might be, and how I might make it higher.
I don't really want to buy a house with my DP and not be on the mortgage/ house as then I'd have nothing If we split and I have a young DD

Which site did you check on. Their ranges all vary, so 300 would be very low on some and average/low on others.

Also it may be just due to a lack of credit history. Maybe try getting a credit card to use and pay off in full each month to build this up.

Another thing to think about is, are you in the electoral roll? This can have a bit impact!

Depends on the site and what's being checked. My overall rating is very high (no debts, no late paid bills etc), but as I have no job my rating for things like credit cards is really really low iyswim.

Thank you both. It was 'clear score' Experian said it didn't have enough info on me? It seemed low though!
I am self employed and work from home but have a young DD so only earn about £9000 annually ! Maybe that has something to do with it. It's just so frustrating!!

'Credit score' is a crock. Different lenders treat the information they have differently. The only thing that's objective is the credit report which says what you've borrowed, whether you've missed payments, and so on.

Get your statutory report from the 'big three' for £2 from each www.moneyadviceservice.org.uk/en/articles/how-to-check-your-credit-report and check the information is correct. And also see what is and isn't on it: your income and savings are not and I think most utility bills won't be.

Lenders often take the attitude that no record is a bad record. For that reason get a credit card, even if you don't think you need it, and immediately set up a direct debit to make the minimum payment so you don't miss one (like I did, d'oh), but of course try and pay off the debt in full each month.

I'm in a similar position to you. I checked my credit score with clear score because I've started saving for a mortgage.

My score was pretty low at first because I was quite deep into my over draft after uni and I only had a phone bill in my name. Since I've got the TV/broadband/phone bill in my name, made sure my address was up to date on the electoral role and got a credit card (0% for 12 months) which I make the minimum payment on every month (sometimes more) and the score has almost doubled to 520ish.

However I've no idea if it actually means anything because we're still saving towards the deposit so I haven't 'done' anything with it yet IYSWIM.

Oh and almost paid back my overdraft which I'm sure has had the biggest effect on the score.

As mentioned your "score" is non existent, no one sees it apart from you. It's a marketing tool created by credit referencing agencies.

You'll be better looking for nasties in your credit history, that's what counts.

Are you on the electoral register?
Do you have any missed or late payments over the last six years?
How much existing credit do you have?

I've never borrowed or even had an overdraft!! Thank you for all the information everyone I doubt I'll have any nasties on my record, I've never even missed a bill payment.

That's the issue - never having credit means you're an unknown quantity and therefore a big risk. As PPs have said, get a credit card, use and pay it off every month