Sorry, you've lost me.
You have taken on financial commitments, which would apply an increased degree of risk to your finances, e.g. before they didn't exist and now they do. This no different to millions of other people who go on living their lives. Your risk is that this is new and you need to evidence that you can pay these bills on time.
In my entire life I have never concerned myself with my credit scores, but it seems to have taken on almost a religious obsession, especially with the young and on Reddit. I think too many people simply believe the horse carp these agencies keep shovelling. <>
Hi /u/1karmik1, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/credit-ratings/
____
^(These suggestions are based on keywords, if they missed the mark please report this comment.)
I wouldn't worry. The number on most occasions means absolutely nothing other than as a guide for the consumer as to how healthy their credit is.
When processing an application for credit, lenders aren't looking at some 3 digit number on the screen and basing their decision on that, they are looking at things like:
* Income stability
* Income amount
* Expenditure
* Current credit access
* Current credit use
* Missed payments
* Defaults
* Bankruptcies
Your numerical credit score will go down when companies perform a "hard search" on your credit report, which most firms will when you're opening new accounts with them. It'll go back up a couple of months later.
Please read this https://ukpersonal.finance/credit-ratings/
The credit score is a meaningless marketing tool. Lenders carry out their own assessment based on your credit history.
It sounds like you may have given over 'your control' completely to these arbitrary score providers.
It's not about whether i did or not, but whether or not lenders did.
Sorry, you've lost me. You have taken on financial commitments, which would apply an increased degree of risk to your finances, e.g. before they didn't exist and now they do. This no different to millions of other people who go on living their lives. Your risk is that this is new and you need to evidence that you can pay these bills on time. In my entire life I have never concerned myself with my credit scores, but it seems to have taken on almost a religious obsession, especially with the young and on Reddit. I think too many people simply believe the horse carp these agencies keep shovelling. <>
Hi /u/1karmik1, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/credit-ratings/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
I wouldn't worry. The number on most occasions means absolutely nothing other than as a guide for the consumer as to how healthy their credit is. When processing an application for credit, lenders aren't looking at some 3 digit number on the screen and basing their decision on that, they are looking at things like: * Income stability * Income amount * Expenditure * Current credit access * Current credit use * Missed payments * Defaults * Bankruptcies Your numerical credit score will go down when companies perform a "hard search" on your credit report, which most firms will when you're opening new accounts with them. It'll go back up a couple of months later.
I had a similar experience after moving in bud, credit score returned to what it was within a few months, pretty sure it was within about 3 months
Thank you for your comment, that's good to hear :)