About two months ago I closed a Halifax current account.

I held the account for five years but never used it at all.

My credit report has now reduced my credit rating from good to very poor

due to closing the Halifax current account.

I am completely confused and puzzled.

Can anyone explain how this comes about please?

doubt it

not got any defaults etc have you?

Hi,

Are you sure that's the only reason.

I have no defaults, no CCJ's and a completely clean credit report. Thanks for the replies.

any current running credit?

dx

Was the Halifax Account your only bank account or source of Credit?

Are you still listed on the Electoral Roll?

Hi and thanks for the replies.

I have no current running credit and no debts at all.

The Halifax account wasn't my only account as I still have a Santander account which I've held for many years.

Yes I am on the electoral roll at my current address and my credit report shows this.

that's probably the reason then

lack of running credit

a bank account is not credit.

pers iwouldnt worry about it.

have you checked all providers

clearscore

Experian

noddle

Hi DX and thanks for your reply.

I have checked with Clearscore and Noddle and they both have reduced my credit score.

I'm not too worried about it as I'm not seeking any credit

I have heard that a poor credit score can prevent people obtaining employment.

Now if that is true then the credit reference agencies are out of order in my opinion.

at right we're getting to the bottom of your enquiry now

no a poor credit score CANNOT hurt your employment etc etc

its if there are any CCJ's in most cases

or in extreme vetting [say like police/etc etc] deafults can harm too.

bar that it plays NO PART

Thanks DX for your reply.

Good to know that a poor credit score doesn't damage employment propects.

You mentioned "running credit". I'm sorry but I don't understand what running credit means.

credit

where they give you money and you slowly pay it back.

credit card

loan

etc etc.

your score will be low because theres no proof there you can manage your budget ...

OK thank you for explaining what running credit means.

Still doesn't explain why closing an unused bank account reduces credit score in my opinion.

does your a/c with santander include an overdraft (available credit)?

is that your only credit

Hi Ford,

My Santander account has no overdraft facility and neither did my now closed Halifax account.

I only have a debit card so I can only spend what I have in the account.

I have never had an overdraft or a bank loan.

However, in the past I've had mortgages which I paid back text book perfectly.

Hi and thanks for the replies.

 

I have no current running credit and no debts at all.

The Halifax account wasn't my only account as I still have a Santander account which I've held for many years.

Yes I am on the electoral roll at my current address and my credit report shows this.

Why is your credit score important to you...do you intend taking more credit ?

The only way to improve your score is to get into more debt.....vicious circle and one which the Credit Registers are manipulating by offering deals with worse credit rates to likes of yourself with poor scores...they are all in it together.

Andy

basically you are a bad customer for them as how are they supposed to make money if you dont borrow any? That is why you get a lower score, it bumps up the interest paid should you borrow as it is likely that you wont be borrowing for long when you do.

Borrow 85 billion and you get it guaranteed by the govt and it is interest free.

Hi Ford,

 

My Santander account has no overdraft facility and neither did my now closed Halifax account.

I only have a debit card so I can only spend what I have in the account.

I have never had an overdraft or a bank loan.

However, in the past I've had mortgages which I paid back text book perfectly.

Thank you Andyorch and ericsbrother for your replies.

I think you have both hit the nail on the head.

My conclusion is that I was daft to worry about my credit score when I have no intention of borrowing

any money.

The CRA's always say it's very important to have a good credit score. However, they never say that the score

doesn't matter if you never want to borrow money.

Some CRA's imply that a poor credit score "might" damage job prospects.

What a dodgy lot they are.

Some CRA's imply that a poor credit score "might" damage job prospects.

How would a potential employer know ?...they cant access it.

If you have CCJs and wanted work say in the Financial services Industry then you would have to divulge this data.

Hi Andy,

I understand that CCJ's are publically available information.

My credit report lists things like CCJ's and bankruptcy as publically available information.

Therefore any potential employer could use such information and correctly conclude that

you have a poor credit rating.

so what?

dx

Hi Andy.

Thanks for your reply.

Do you think you would have to divulge personal financial information such as CCJ's if you applied

for a job as a Project Manager within the MOD?

Project managers within the MOD are in charge of enormous budgets running into millions of pounds.

yes

but only if they showed on your credit file.

dx

All CCJs are recorded on the CCJ Register at Trust Online which you (others) have to pay a fee to use.....so yes you can be searched by a potential employer subject to a specific type of employment....but that depends on them having all your details to enable a check ..possibly previous address in some cases.

They cant access your CRAs

I dont personally know what the criteria search for the MOD is but would assume its more likely to be a criminal check rather than a financial check.

Useful links and information

https://trustonline.org.uk/

Regards

Andy

faq_ca8374104815.pdf

Hi Andy,

Thanks for your post.

I think you are right that the MOD would only be interested in criminal convictions based upon dishonesty

rather than county court action for financial debt.