I’m Emma and I’m blogging about how my credit profile and score change as well as the things I learn about the money world while I go through my Loqbox journey.
In a previous post, I blogged about how my credit score plummeted from 373 to 250 after I tried to upgrade my bank account (if you haven’t read that blog, check it out: https://www.loqbox.co.uk/blog/how-upgrading-your-bank-account-can-impact-your-credit-score/).
It’s been 5 months since then, so I thought it would be a good time to update you all on how my credit score has been doing!
Since this saga, my credit score has been repairing thanks to Loqbox. My timely monthly repayments have been strengthening my credit payment history and as a result, my credit score has increased from 250 to 328, as you can see from the screenshot below:
After 5 months, my credit score had increased by 78 points, which is just 45 points lower than where it used to be before my bank carried out those hard searches! In addition, the hard searches were still appearing on my credit report as applications for credit:
This experience has highlighted just how sensitive credit reports and scores are towards hard searches. They can cause your credit score to plummet almost immediately and can take you months to repair the damage done to your report!
I can’t even imagine how long it would have taken my credit score to improve without Loqbox!!
With my continued monthly Loqbox repayments, I wonder how long it will take for the hard searches to stop appearing in my credit report and how much longer it will take for my credit score to get back to 373?