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Original poster

Credit score has plummeted why?

6 replies

Rooandtwo · 04/12/2023 12:54

I recently learnt that my credit score with Experian which was previously excellent has plummeted around 100 points. This happened in August. For context my husband and I bought a house, completing in early July, and in April this year I went on maternity leave. I understand a mortgage can temporarily affect a credit score but not (I didn’t think) by 100 points?! Any advice much appreciated. Reaching Experian is proving a bit of a mare.

OP posts:
Cas112 · 04/12/2023 13:25

Have you registered on the electoral role at your new address?

piglet81 · 04/12/2023 13:35

Cas112 · 04/12/2023 13:25

Have you registered on the electoral role at your new address?

This. And make sure your name is on the council tax and utility bills, and that you’ve closed/transferred everything relating to the old house. Is your post being redirected? Make sure you haven’t inadvertently missed any bills sent to your old place.

Poisonata · 04/12/2023 13:43

Used to have a credit score of 904 (out of 1000 - Equifax). About two years ago finally paid off my mortgage. You'd think this would result in a positive outcome. It dropped to 761 as I no longer had loans / debt. The advice (3rd party) take on additional debt to increase it. What a joke, given up caring about it now.

Original poster
Rooandtwo · 04/12/2023 14:12

I’d love to give up caring as it is so enfuriating. But sadly this is our first mortgage and the notion of paying it off .. ha!! Electoral stuff is all sorted as learnt from last time this was an issue. Bills were all very diligently transferred. It feels like they must have an error somewhere but god knows where or how to find it.

OP posts:
thedukeofbuckinghamshire · 04/12/2023 16:15

Have you looked at the actual report rather than just the score to see what it's showing? Experian also do a quite handy update which tells you which factors have reduced your score if you sign up to their credo expert thing ( but think there may be a fee.)

Original poster
Rooandtwo · 04/12/2023 20:27

Yep ok I caved and signed up for credit expert. It turns out they don’t have my new address?? How can this be when I have lived here for 5 months? Why are these few companies able to mess up things financially for us and not even get their information straight. I’m so annoyed. Especially to have had to pay for their service to identify the mistake. 🤬🤬

OP posts:
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