Your credit score can go up or down based on changes to your report. Check it regularly for insights that could be impacting your score.
Key insights that could be impacting your score include:
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Missing payments
This can lower your score by raising doubts about future repayments.
- Court judgment
Indicate failure to repay debts, the lender can go to the courts to order you to pay it back.
- Bankruptcy
A last resort to clear debts when financially struggling.
- Debt Collection/Hardship Agreements
These may signal financial difficulties, making you appear as a high-risk borrower to lenders.
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Enquiry
Normal background checks, but too many in a short time can impact your score.
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Address change
Ensure all accounts have your current address to avoid mismatches.
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Account closed - Closing an account affects your credit utilisation ratio, the diversity and average age of your accounts. When an account is new or closed, it affects your score.