My credit score suddenly dropped??

[FingersInTheBin]

I have had an email from Experian today and my credit score has dropped from 998 to 816. I haven’t done anything with my money, except that I had an account which I didn’t realise had gone overdrawn as I thought it was dormant. Something has come out and I didn’t realise, I meant to close it down. Is this the problem? It’s £50 overdrawn and has been like that for a few months without me realising - idiot! I don’t want to spend £15 a month signing up to fill Experian to find out. I don’t have any other credit, no loans or credit cards etc. I’ve always been so careful, I lost track of this due to life getting on top of me.

thanks

You are not being penalised at all OP. That is a massive over reaction to a meaningless number changing. You have checked your credit report, everything is in order, nothing to worry about.

Yes mine said to consider getting a mortgage, we have paid it off so I'm definitely not getting another one just to up my score a bit

I downloaded money supermarket app and you get a credit watch facility with it.
It checks all your credit score, and let's you know immediately if anything is up and what's wrong or right. With all soft and hard searches on your credit file.

It's probably because you went overdrawn so wouldn't worry too much, but worth checking a different credit score system, as I found Experian quite alarmist! As they want you to sign up and pay £££ 🤔

Thank you to everyone who has been supportive and understanding.

Like many people, I am really worried about money at the moment and the future so this really freaked me out as our situation is a bit precarious and I am stressing every day. I just don’t want anything to jeopardies us any further!

Thank you.

Why has this freaked you out? There is nothing, literally nothing, for you to be concerned about. That number is just nonsense made up by credit reference agencies. It means nothing.

Yes you’ve made your point to someone who is struggling with financial anxiety at the moment. It has been noted.

Sorry I didn't mean to make you feel bad, I was just saying it's nothing to worry about. Making my point wasn't really what I was trying to do. I just wanted you to realise that the number is irrelevant. Financial anxiety I must have missed but tbh in that case what I said is even more important for you to pay attention to.

I'm pretty sure the overdraft will be having an effect too, whether it was authorised or not.

Sorry, I’m so stressed about it money, I’m being over sensitive. Thank you, I appreciate it. I have clearly invested too much into it. Will ignore it and stop worrying. Thanks

How strange - something very similar has happened to me. Mine dropped about 189 points this week without any reason. This is on Clear Score, btw. After the notification I checked on experien and I still have 999 score.

Do you have an Amazon credit card at all? Mine was just shut down because they withdrew the product, but I just paid the final balance and wasn't interested in transferred to the new product offered (a Pulse card). That's literally the only change I could think of

As actualnamechange said, nothing is really going on. Your so called 'credit score' is a number made up by the credit reference agency, which Nobody but you can see and has no bearing on the criteria used by a lender to make credit decisions. Each lender has their own priorities.

Mine went down recently because I paid off a loan (came into some money unexpectedly but not happily) and I closed a couple of credit accounts. I've also paid off some more borrowing and I'm expecting it to go down again.

Mine was at the maximum but it's now not quite there. I'm obsessing a bit as well but like you I still have an excellent credit score so logically it's absolutely fine.