Your credit score isn’t a static measurement. With us, your score is live, so you’re likely see your score fluctuate more than you usually would with other credit report providers.
Scores change because credit reference agencies are continuously receiving new data from lenders, public records, and collection agencies - even the passage of time causes changes in your score. So, it’s completely normal for your score to fluctuate and a few points up or down isn’t anything to worry about.
At the bottom of your dashboard under ‘Latest Credit Report Activity’, you can check to see if there’s an alert that might indicate why your score has changed.
There are some factors you wouldn’t expect to have an impact on your score, such as paying off a debt, closing a credit card, or asking for a higher credit limit. With these, you should see your score recover after a few payment cycles.
Small changes may be due to:
- Using more than 25% of your credit limit.
- How frequently you have used your credit card in the last 6 months.
- The time since last applying for a credit card.
Larger changes may be due to known activity such as paying off a default, or could be due to less noticeable changes that are a result of information 'dropping' off your credit report after reaching the six-year mark.
It’s important to monitor your credit report, and remember: checking it has no impact on your credit rating.
If your score has dropped and you notice inaccuracies on your report that might be causing this, you will need to raise a dispute.
Check out "Key Factors that impact your credit score" here.