ClearScore partners with Experian to give you access to your credit report and score.
It's important to note that your credit score is quite fluid and can increase or decrease from month to month.
Of the factors which show up on your report, here is a list of reasons which will lower your credit score:
• Address – banks and lenders look at all of your address history
• Current debt – If your accounts show that your current levels of debt are quite high, this may be a factor that lowers your credit score.
• Missed payments – If your accounts are showing a recently missed payment, your score could fall as it throws doubt on your ability to pay off future debt.
• Short-lived credit accounts – If your credit card accounts are only open for a short time on average, this may lower your credit score as it suggests instability.
• Enquiries – ‘Credit application' (hard) searches show up when a lender performs a search on your credit report. This is a background check carried out when you apply for credit. If there are too many hard searches on your report, this indicates that you have applied for several credit accounts. This may lower your score as it suggests you rely heavily on credit and may struggle to pay it all back.