Credit score

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Hi my credit score has always been bad. Anyway I gave myself a kick. And decided to try and change it. I got a loan and few bits on credit. Think I owe around 1500 in all. I'm ahead with all payments etc. I managed to get my credit score upto 435. Then it suddenly dropper to 103. There doesn't seem to be any reason for it. It even says you don't have any outstanding debts. Just makes me think what's the point of trying. I feel like I may as well just pay less as long as the interest does not kick in.

No-one but you sees this score in the UK, it’s just a marketing tool by the credit rating agencies to sell you an extra service.

What companies see instead is your record, which shows loans and feeding agreements, payment history, arrangements to pay etc.

Try to ignore the score, it’s not much better than a random number generator, and instead concentrate on using debt sparingly and sensibly, including making every payment on time.

My credit score is lousy - no credit card, mortgage paid off, no overdraft, don't owe anything. So what?! But I earn decent money and could easily borrow if I needed to. (I won't, we have savings / insurance to cover pretty much every eventuality)

My credit score took a beating when I got a mortgage!..still hasn’t recovered!