Experian - do they just make up credit scores??

[zoemk10]

After years of paying back debts I've finally got myself into an ok position.

 

I'm now looking to get a mortgage and so I've been subscribing to credit expert.

 

On friday my credit score was 31 away from being good and this was great because I have paid down a couple of accounts and so when updated I was hoping this would push me over the edge!

 

However yesterday I updated my address as I recently moved in with my mum so that I'm free to move quickly when I buy somewhere and I want to ensure I'm still on the Electoral register etc.

 

This morning my score had gone down by 49, but as you can see from the attachment the comment bears not relation to the score going down! I know lots of people think credit scores are a fallacy but I know when mines been good I've got credit and when not so good I haven't!

 

I called Experian and they said the score had gone down because of my new address pulling through a new account- this is a bank account I've had since 1998, no overdraft, no borrowing and always in credit. How is that a negative?! The person I spoke to could offer me no reasonable explanation!

 

Does this seem right to you?

 

Thanks.

[obiter dictum]

Lenders pay no attention to the credit scores supplied by the credit agencies. They are a marketing ploy, a gimmick to get you to part with your cash

 

Every financial institution will have there own internal credit scoring process

 

The lenders never see your credit score that you are paying for by the credit agencies

[theoldrouge]

Speak to a good mortgage broker who has access to whole of market mortgages before making any application

 

There are lenders available at the moment who underwrite personally and individually, rather than the computer says no attitude

[BarnOwl1]

Lenders pay no attention to the credit scores supplied by the credit agencies. They are a marketing ploy, a gimmick to get you to part with your cash

 

Every financial institution will have there own internal credit scoring process

 

The lenders never see your credit score that you are paying for by the credit agencies

 

The credit reference agencies have always stated as far as I know that the "score" is a day to day view of how a credit application may be seen/considered by a lender.

 

It is the conduct ot the persons credit accounts, the electoral roll information and public record of CCJ's that potential lenders will

see and use together with its own credit rating systems.

 

I see being able to access a credit agency as good tool aiding credit management