Debt Camel

Answers to questions about debts and credit ratings - in plain English!

  • Home
  • Debt refunds ▾
    • Overdraft refunds
    • Catalogues & credit cards
    • Large loans
    • Car finance – affordabilty
  • Debt solutions ▾
    • Payment arrangements
    • Debt Management Plans
    • DRO – Debt Relief Order
    • IVAs
    • Bankruptcy
    • Compare 2 solutions
    • Help if you can’t pay bills & debts
  • Car commission
  • Latest posts
  • About ▾
    • About Debt Camel
    • Media

Credit Ratings

There is a lot talked about credit ratings on the Internet but it can be very confusing and sometimes even wrong!

If you can't make the proper payments to your debts, your credit rating will suffer. But different debt options affect your credit score in different ways, so I've written these articles looking at the details of each situation.

And most importantly, when will your credit rating improve and what can you do to help this.

See The top ways to check your credit records for details.

BNPL is now often on credit records, but it’s ignored in credit scores

Klarna details will start to be added to TransUnion and Experian records from June 2022. TransUnion says: Incorporating this data into credit reports will support consumers that are using this type of point-of-sale finance, whilst also ensuring lenders have a comprehensive picture of a borrower’s financial position. But this year TransUnion will not be using the BNPL information when it … [Read more...]

May 4, 2022 Author: Sara Williams Tagged With: BNPL, Credit ratings, General news & policy

“My credit score is higher but affordability score is down”

Clearscore affordabilty score

A puzzled ClearScore user asked: My credit score has gone up but my affordability has gone down... not sure why sometimes I think these credit score companies just do what they want lol. Her credit score had increased by 57 to 573, but at the same time, her affordability score had fallen by 15 to 64. These weren't tiny changes... ClearScore affordability scores are out of 100, so a 15 point … [Read more...]

April 14, 2022 Author: Sara Williams Tagged With: A reader asks, Credit ratings

How can my creditors find me?

If you are very worried about your debts, you may be wondering how easy it would be to disappear and leave them all behind. perhaps you have already gone, leaving Britain because of Brexit. Will your old records be linked with new ones on your credit records? Can your creditors find you if move, go abroad, change your name? Some of these sorts of ideas aren't very sensible - and there may be … [Read more...]

March 18, 2022 Author: Sara Williams Tagged With: Credit ratings

Can I get a mortgage with recent defaults?

A reader, Mr D, asked: My partner and I have a combined income of £56,000, We have a deposit of £28,000 (inheritance) and are looking to become first time buyers at a price of £230,000. We have defaulted debts that are being paid off, and previous history of payday loans from over 2 years ago from a time when our financial situation was much more difficult. The defaults are about 18 months … [Read more...]

November 22, 2021 Author: Sara Williams Tagged With: A reader asks, Credit ratings, Defaults, Mortgages

ClearScore adopts the new Equifax credit scoring out of 1000

In mid November 2021, ClearScore has finally adopted the new 1000 Equifax credit scores. Equifax credit scoring changed in April 2021, when it switched to calculating scores out of 1000 - they used to be calculated out of 700. It also changed the bands used to describe your credit rating. Equifax didn't make an announcement about these changes. The Equifax Credit Report & Score was … [Read more...]

November 19, 2021 Author: Sara Williams Tagged With: Credit ratings, General news & policy

Is your name in a fraud database?

Sign saying fraud

There are three large UK databases aimed at alerting lenders to possible fraudulent applications for borrowing: National Hunter,  Cifas and Sira. If your name is on one of these connected with fraud you may find it difficult or impossible to take out credit and your bank account may be closed. But sometimes the information on the databases may be wrong and you need to get it corrected. In … [Read more...]

October 22, 2021 Author: Sara Williams Tagged With: Credit ratings

“Lower interest if your credit score improves” – a good idea?

Many people are frustrated by only being to access expensive credit. Their financial problems may be years in the past, but they still cannot borrow at a reasonable rate. The FCA's Woolard Review said in January 2021: Products or business models which aim to help consumers bridge from sub-prime to near-prime or mainstream have an important role to play in expanding access to credit, and … [Read more...]

April 8, 2021 Author: Sara Williams Tagged With: Credit ratings, High cost credit news/policy

How fast can I improve my credit score for a mortgage?

dream of a house

Here are some questions I have seen recently about how long it takes to improve your credit score for a mortgage: I was foolish with credit cards for years but now I am determined to buy a house - how long will this take? My credit score is dreadful. My new partner has a good credit record and we want to get a mortgage. I have a poor credit rating but I have now inherited a deposit. How … [Read more...]

April 2, 2021 Author: Sara Williams Tagged With: Credit ratings, Mortgages

Correct credit records by “suppressing” them if the lender has disappeared

If you feel that your credit report is wrong, the normal first step is to ask the lender to put this right. But when the lender is in administration, the administrators may not respond to requests from you to correct your credit files. And if the lender has been liquidated, there is no-one for you to contact. Here the Credit Reference Agencies (CRAs) should help if you ask them to. Incorrect … [Read more...]

March 6, 2021 Author: Sara Williams Tagged With: Credit ratings

How much will my credit score change if … ?

How much will my credit rating go up or down? That is a very common question. But it's often tricky to answer! This article has some guideline numbers from Experian that may help. These are only indications - your credit score may not go up or down by this much. They assume nothing else has changed on your record. They also apply to single issues. If you have two defaults already, getting … [Read more...]

February 18, 2021 Author: Sara Williams Tagged With: Credit ratings

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • 5
  • Next Page »

I post regularly on Instagram

Follow me!

Help with your debts

Recommended places for debt advice

Get an email after a new article:

About Debt Camel

This is the personal website of Sara Williams.

More about Debt Camel.
Privacy policy and Comments Policy
Contact (not for debt advice)

 

Copyright © Debt Camel 2025