Credit score dropped

[Librariesrule]

Just checked my credit score and it's dropped 7pts. Why? Because I accidentally overpaid my credit card bill so am in now in credit. It really doesn't make sense.

Hi, mine dropped this month too. I was monitoring it as my current mortgage deal ends soon. One of the advice pointers to improve was to cancel credit cards I wasn’t using. I did this and dropped points - arrggghhhh!

Don't worry about it. Your credit score is a meaningless figure made up by the credit agency. Nobody but you and the agency ever see it. When applying for credit each lender uses their own criteria to assess whether you are suitable.

It's just annoying when you're working hard to improve it, and find it drops fir a silly reason.

Just checked mine! It’s dropped 8 points. No changes, nothing new, all bills paid on time. 🤷‍♀️

Mine once dropped 20 points beck for 2 months I was paying cc off as I went rather than once the statement came😂

What's the actual score figure you've been quoted?

For most people 7 points won't make any practical difference.

I don't know if there is definitely a connection, but the Bank of England left interest rates unchanged yesterday because inflation hasn't come down. Higher interest rates for longer means less discretionary income in the future than if an interest rate cut was 'priced in' - that reduces the amount that lenders will lend to consumers.