Poor Credit Rating

[Guest Alison82]

Hi everyone

 

After years of struggle and bad choices whilst being young,

all of the defaults and old accounts have dropped off of my file.

 

 

I was happy about this but I have just checked on clearscore and my score is still extremely low 313 ...

 

 

can anyone tell me why?

I haven't taken out any credit until a recent £500 PayPal credit.

 

Please see screenshots attached (with private info cropped)

 

What can I do to improve it?

 

Many thanks

[dx100uk]

are you on voters

[Guest Alison82]

I thought I wasn't so I just joined but after reading on clearscore it turned out that I was.

 

There are only 2 relatively small accounts, no defaults or ccjs so I'm a bit confused

[maroondevo52]

Hi Alison,

 

There are many different reasons for a lowish credit score, having few accounts with little past history being one, and I'd think not having a bank account would be another.

 

Like you, my credit files were trashed for years due to defaults and bad payment records ect, over the past 4 or 5 years I have managed to get my credit files up to a good standard. The defaults coming off where without doubt the biggest reason.

 

I also have a couple of credit cards which I have used and paid off every month without being hammered with their high interest rate.

I've found the limits on my cards are reviewed around every 10 months.

 

I recently got finance for a car and noticed my credit score has taken a bit of a fall.

 

My score on Clearscore at the moment is 378, the lowest it's been.

[obiter dictum]

Not having any active account can be just as damaging. Creditors like to see 32 months on how you conduct yourself on an account. It shows stability

 

Getting any credit card balance down below 50% will raise your score as well

[Guest Alison82]

Ok, many thanks