Why has my credit score dropped?

[PlomBear]

I’m on Clearscore - the range is 0-700. I was 460 which is “good” but now fallen to 386! I’ve moved house recently, the address hasn’t updated, could this be why?

I have 11 positive factors, nothing negative on there. Mortgage, two credit card but will within limits and paid every month.

Your credit score is a marketing gimmick created by the credit reference agencies so they can sell you things to 'improve' your score.
The reality is that no one but you sees it and no lender bases any decision upon it.

What matters is the information in your credit file. With a mortgage and credit cards all paid on time then things are going well, you have a history of using credit responsibly. Being on the electoral roll is important also so if you were thinking of applying for credit soon it may be better to wait until this information is updated.

These are the things that lenders will look at, not some made up number they don't see.

This ☝🏻 Your credit score doesn’t actually exist. No one sees it apart from you and the credit referencing agency. And that includes potential lenders.

Mine dropped - I was expecting it. New mortgage plus new cc!

You need to update your address on ClearScore, it will link to your old address. Make sure you are on the electoral register at the new house.

I got an Amber warning on mine recently,, it said because I’d used up nearly 50% of my credit limit.

My credit limit on all my cards is about 35k so I don’t think so! The balance on all the cards was zero.

Also ClearScore, very strange.

Pay your credit card weekly, it’ll up your credit score