Credit Score

[SpeedBash]

Just checked my credit score via Credit Karma and it has dropped almost 30pts since last month.

It appears the drop may be due to no longer being on the Electoral Register.

I have been at the same address for 30+ years and been on the electoral register for all of that period.

The only change I made to the electoral register was about 4 years ago and that was to have my name removed from the open register.

Am I correct in thinking that the drop in my credit score could be due to no longer being on the electoral register?

If so, any ideas how I may have dropped off - is it an early sign of some sort of identity fraud taking place?

Worried about any problems this may cause.

[Funk]

You're still on the ER, just not the publicly available one (I'm the same). It won't be that that's caused the drop.

Have you closed an account or ended a finance agreement lately? Mine dropped a touch when my lease car went back for example.

[SpeedBash]

Funk said:

You're still on the ER, just not the publicly available one (I'm the same). It won't be that that's caused the drop.

Have you closed an account or ended a finance agreement lately? Mine dropped a touch when my lease car went back for example.

This is the message I see

[Funk]

Oh, then perhaps you took yourself off completely rather than coming off the open register.

I would try and re-register: https://www.gov.uk/register-to-vote

Edited by Funk on Friday 1st March 09:06

[sasquar]

mine dropped 143 points when I paid off my btl mortgage.... a bit odd, but whatever

[Jamescrs]

Credit scores are of no real value other than massaging ego’s, lenders don’t see a score from ClearScore etc they look at your overall credit file and make an assessment on you based on the actual facts not a score.

Mine is 1000/1000 on ClearScore but I don’t feel particularly affluent from it. I use the app to track my credit history though and keep a general eye on things, it’s good for that

[Nezquick]

Jamescrs said:

Credit scores are of no real value other than massaging ego’s, lenders don’t see a score from ClearScore etc they look at your overall credit file and make an assessment on you based on the actual facts not a score.

Mine is 1000/1000 on ClearScore but I don’t feel particularly affluent from it. I use the app to track my credit history though and keep a general eye on things, it’s good for that

Exactly this - they don't really mean anything. The only thing I use mine for is to keep a check on potential fraudulent credit being taken out in my name. Mine goes up and down by +/- 60 or so every few months despite nothing really changing in my personal circumstances.

[Simpo Two]

I didn't know being on the electoral roll was optional; I thought you had to be otherwise they can't tax you because you don't exist...

[mikey_b]

Simpo Two said:

I didn't know being on the electoral roll was optional; I thought you had to be otherwise they can't tax you because you don't exist...

Starting to sound like a 'sovereign citizen' there...

[Funk]

Nezquick said:

Jamescrs said:

Credit scores are of no real value other than massaging ego’s, lenders don’t see a score from ClearScore etc they look at your overall credit file and make an assessment on you based on the actual facts not a score.

Mine is 1000/1000 on ClearScore but I don’t feel particularly affluent from it. I use the app to track my credit history though and keep a general eye on things, it’s good for that

Exactly this - they don't really mean anything. The only thing I use mine for is to keep a check on potential fraudulent credit being taken out in my name. Mine goes up and down by +/- 60 or so every few months despite nothing really changing in my personal circumstances.

It's worth keeping an eye on for when important things change (and which may affect lenders' decisions) - like finding out you're no longer on the electoral roll. AIUI, that one's quite a major contributor to credit worthiness for example.

OP - do the other credit ref. agencies show you as being on the ER? You can check Equifax for free via ClearScore and Experian for free via MoneySavingExpert's Credit Club.

[Sarnie]

Being on the electoral roll is the single biggest factor on your credit file, just behind having a residential mortgage.

Come off it and your score will drop and vice versa....

[SpeedBash]

I've spoken to my local electoral office and they confirmed that I am (as well as other family members at the same address) are still on the electoral register and there have been no requests for removal.

I have checked Experian but, as I only have a basic free subscription, can only see the numerical value of my rating which hasn't changed so think it is safe to assume that they can still see me on the electoral roll.

I previously signed up for ClearScore but they wanted copies of my ID (passport/driving license) to confirm my identity which, rightly or wrongly, put me off completing the sign up process so am unable to check with them.

It appears, for the moment, the issue lies with Credit Karma so will contact them to see if they have a process to rectify this.

My concern isn't the drop in my score per se but the cause of the drop and whether it is a sign of potential fraud - I've had this happen before when my score inexplicably dropped - a bit of investigating determined it was due to fraudsters un-successfully trying to open bank accounts in my name.


EDIT: A bit more digging on Credit Karma's website brings up this help article which states they get their credit report data from TransUnion. They provide a link to TransUnion's website where you can view and download a free copy of your statutory credit report.

The good news is, upon doing this, TransUnion have a record of me being on the electoral roll so it appears the issue lies with Credit Karma. I have e-mailed CK requesting they investigate - fortunately, there doesn't appear to be any fraudulent activity taking place.

Edited by SpeedBash on Friday 1st March 13:54

[Sarnie]

SpeedBash said:

I've spoken to my local electoral office and they confirmed that I am (as well as other family members at the same address) are still on the electoral register and there have been no requests for removal.

I have checked Experian but, as I only have a basic free subscription, can only see the numerical value of my rating which hasn't changed so think it is safe to assume that they can still see me on the electoral roll.

I previously signed up for ClearScore but they wanted copies of my ID (passport/driving license) to confirm my identity which, rightly or wrongly, put me off completing the sign up process so am unable to check with them.

It appears, for the moment, the issue lies with Credit Karma so will contact them to see if they have a process to rectify this.

My concern isn't the drop in my score per se but the cause of the drop and whether it is a sign of potential fraud - I've had this happen before when my score inexplicably dropped - a bit of investigating determined it was due to fraudsters un-successfully trying to open bank accounts in my name.

Check with CheckMyFile;

https://www.checkmyfile.partners/64DNC44/2CTPL/

It's gives you the data from all three credit referencing agencies. It's £14.99pm but you can sign up, obtain your report and then immediately cancel. It's what we use with all our mortgage clients........