Your credit score fluctuates 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.