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So I have done literally everything I can to improve my credit score, but it dropped considerably (for no reason!) earlier in the year and it’s not changed since then. I have one credit card, with a low limit as I don’t earn enough to get a higher limit - I use it every month to pay for fuel and it gets paid off every month in full. I have no debt, I have a bank account I’ve had since 2006, I’m on the electoral roll, I have one item (my sofas) on finance which is nearly paid off, I have never missed a bill payment, I’ve never missed a finance payment, I’ve never had a loan, I’ve never been in debt and I am a homeowner with no mortgage. But yet my credit score is 350. This is insane to me! I don’t understand why it dropped when nothing had changed and I don’t know what more I can do to make it go up, any advice??

sarahgreen15
6 months ago
What do you think of this?
LenoirLenoir
LenoirLenoir6 months ago

Check the MSE site. money saving expert Martin Lewis may have some tips

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KirstyWhit29673
KirstyWhit296736 months ago

I would check experian or expedia and get your credit report. There may be something on there that you haven't thought of.

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G0501
G05016 months ago

I am the same as you! I dont understand why mine is so low when I've nit done anything wrong

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1
MrsCraig
MrsCraig6 months ago

I couldn't tell you what my credit score is! I don't have a credit card, nothing is on finance, no debt apart from student loans which get paid each month and we have a mortgage that we overpay on each year. I've never actually worried about what our credit score is.

I would check Martin Lewis website or Experian, there might be something in there that you didn't realise.

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sarahgreen15
sarahgreen15
Original Poster
6 months ago

My issue is that I know I have a low credit score now, which means when I want to get a mortgage on my next (more expensive house) even with a huge deposit, I don’t think I’ll get a mortgage approved 🤦🏻‍♀️

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MrsCraig
MrsCraig6 months ago

sarahgreen15 you could always get a joint mortgage or if your partner has a better credit score, get it in his name, improve your score and then remortgage in both your names. I didn't have a permanent contract when we got our mortgage but we got it based purely on my husbands wage. Being approved for a mortgage isn't just to do with your credit score. I would maybe speak to an expert and see how you could improve it or find out what has cause it to dip.

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PhilipMarc
PhilipMarc6 months ago

I get ya and even when it's not our fault, it limits us to what we can access even though we'd pay it all monthly.

I'm honestly a bit annoyed with what they done to me as I like their service credit card very much. sarahgreen15

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PhilipMarc
PhilipMarc6 months ago

A retailer (Fishpond) recently used my credit card for a £91 purchase and I wasn't even aware of it till one of the items was dispatched. I cancelled the rest, but the issue still remains.

They still have to refund me £27, but those buggers refuse to admit their screw up.

As such, I cancelled and had my credit card replaced, but another issue is that the credit card company for some reason drastically lowered my credit and I always pay everything each month.

Safe to say I'll never use Fishpond again.

Heck, they wanted to charge me a cancellation fee of £30 for cancelling those items.. items I didn't even order! The item dispatched I won't be accepting it so it's going back to them.

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