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Evolution Money
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Each credit agency have their own method of working out your credit score

How often do credit scores get updated?

Home > Credit Rehab > How frequently do credit scores get updated?

Even though your credit score is a general indication of how much of a risk you would potentially pose to a new lender, in reality it is your financial records that matter. Your credit score is just a number. Each credit agency have their own method of working out your credit score, and the number that you get would depend on where you check it.

Additionally, lenders don’t tend to look at your score in isolation, but will look at your credit file in its entirety and make an informed decision based on their own criteria.

Your credit history tends to change or improve when the information in it changes. As time goes by, certain undesired items will become less significant, although those that process will have a minimal impact on your credit score.

By using credit in daily life, new information will continuously be added to your credit file, and unless any payments are missed then it is considered reliable information. Every time a new piece of credit information is added, it could either have a positive or detrimental effect on your credit rating. Generally, anyone who provides you with a line of credit would need to report that information along to the main credit agencies, in most cases this is done about once a month.

That means that each month your credit file is gaining several new bits of information from current credit sources, as well as personal movements such as electoral role, credit cards, store cards, utility bills, phone contracts etc.

The thing to keep in mind that relatively small pieces of information don’t tend to have a massive effect on your overall score. If you have just paid off a large personal loan, then that would be the kind of thing that would have a noticeable positive affect within your credit file.

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

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Fair Processing Notice

Who we are:

Evolution Money Ltd, Progressive Money Ltd and Evolution Lending Ltd are all wholly owned subsidiaries of Darwin Loan Solutions ('the Group').

We take your privacy seriously and will only use your personal information to

A) Discuss loan offers and provide you with the products and services you have requested.
B) If you take out a loan with us and become our customer, it will also be used to manage your loan.

We'll keep your details for up to 12 months to enable us to help you with your loan application. If you don't take out a loan with us, we will delete your enquiry details unless regulations say we must keep them for longer.

This won't change any marketing preferences you've already chosen.

How we control and process your data:

Our companies hold and process your personal data in accordance with Data Protection law in the UK. We are committed to maintaining the privacy and protection of all personal data collected in connection with our broker and loan services. We may share your information with credit reference agencies and other companies for use in credit decisions, for fraud prevention and for debt collection purposes.

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We would love to tell you from time to time about offers and special deals on loans, insurance products and utility services which may save you money.

If you're happy to be contacted about these, please click the boxes to tell us how you want us to get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

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Marketing Contact preferences - Our partners:

We would love to tell you from time to time about special offers and deals from our carefully selected partners.

If you're happy to be contacted by them please click the boxes to tell us how our partners can get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

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Please read the full details of our Fair Processing Notice including Credit Reference Agency Information Notice (CRAIN) Click here to see a copy of the CRAIN.

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Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

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Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

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