Quick Noddle Quetion

Quick Noddle Quetion

Author
Discussion

86DA

Original Poster:

224 posts

126 months

Wednesday 20th May 2015
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I have been registered with noddle for 3 to 4 years. My credit rating when I joined was 3/5 which improved over time to 5/5.

My borrowing hasn't really changed other than moving a credit card balance around, but my rating has gone down to 4/5.

The only thing a can think of is I cancel a Barclaycard which I'd had for about 12 years with a limit of £12k, only to apply for another Barclaycard to get a 0% rate which only had a limit of £5k.

Could that have lowered my score?

Thanks

Sarnie

8,025 posts

208 months

Wednesday 20th May 2015
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Yes.

Applying for credit lowers your "score".

You've also closed a long standing historic account with lots of history and opened a new one that now has now/little history of payments etc...

Aquarius909

99 posts

164 months

Saturday 23rd May 2015
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Bear in mind too that there are three main credit scoring agencies in the UK: Equifax, Experian and Callcredit. Each of these agencies has their own relationship with lenders and get their own cross-section of data. Not all of them have a complete picture of you and for this reason your score can vary from agency to agency.

Of the three, CallCredit is probably the smallest. Noddle uses Callcredit data where as most lenders will use a combination of two of these three, most often Equifax and Experian (not a hard and fast rule, just my impression). As far as I am aware Callcredit's main strength is in payday lenders where they have good relationships (or so I've been told).

I guess all I'm saying is that, just because Noddle says something is so, doesn't necessarily make it so for all lenders.

86DA

Original Poster:

224 posts

126 months

Thursday 11th June 2015
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Quick Update.

Gone back up to 5/5 for no apparent reason.