Sometimes your score may remain stable and won’t change for a period of time because of the following:
- Your credit report hasn’t changed- if the information on your report hasn't changed very much, your credit score may not change either. This is because Experian (our data provider), provides everyone with a default credit score based on their age and location.
- Building up your credit score can take time- Your credit score is something which builds up steadily over time. You may not always see a satisfying boost month on month.
- Lenders like to see diversity in your credit report- This is all about the types of credit products and accounts you have. A lack of diversity in accounts could be one of the reasons why your score stays the same for a long time.
- Updates can take some time to show on your report- Credit reporting bureaus (CRBs) are sent information by your banks and lenders about the credit you have and how you manage it. Credit bureaus also receive other information about you, for example public records such as bankruptcy data. Lenders will typically send information to CRBs once a month.