change of address

[iwannapool]

When you move, are you suppossed to change your address with the big three CRA's? Can you do that? I have one recent loan that should be reporting the new addy.

We lived in the same place for 13 years, will moving lower our scores even more? (I heard moving can drop your scores).

[llecs]

We moved back in February. While you can change addresses with the big 3, I found it easier to let them update on their own with the new address. Just provide all of your credit accounts with your new address and they'll update the CRAs for you within a month or two or three. IIRC, EX and EQ was updated almost immediately. TU was stubborn but I also had a Barclays CC that favored TU and I had a challenge updating with them. I suspected their updates kept updating my old address. Some have posted difficulty in changing addresses with the CRAs if they hadn't updated their creditors first.

Moving by itself won't drop your scores. FICO ignores your demographic info. However, some utilities like to pull your credit as you obtain new service. If that new service resulted in an inquiry, there's always a possibility of a very minor score drop, if any at all. I had new inquiries for Verizon and for our ADT reseller. No score change.

[iwannapool]

Well, we are working on rebuilding our credit to get a mortgage after losing our home in a tornado and selling our 20 acres (Yeah, at least we have a 20% or more down payment!  ) . A relative offered us a nice home to rent and all the utilities were already on. So we just write him a check each month for the rent and all the utilities. So I guess we won't take the hit on the utilities until after we've  bought a home anyway.

Thank you for the reply. We've spent so many years paying cash for everything, I NEVER worried about how things effected credit scores. Now I worry that EVERYTHING effects credit (virtually true)!

[LS2982]

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@iwannapool wrote:

When you move, are you suppossed to change your address with the big three CRA's? Can you do that? I have one recent loan that should be reporting the new addy.

We lived in the same place for 13 years, will moving lower our scores even more? (I heard moving can drop your scores).

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Yes, you need to send in a letter to each bureau.

Send to these address's:

Experian
P.O. Box 9701
Allen, TX 75013
www.experian.com

TransUnion
P.O. Box 2000
Chester, PA 19022
www.transunion.com

Equifax
P.O. Box 740241
Atlanta, GA 30374
www.equifax.com

Include in your letter:
(A) The current date.
(B) Your full name.
(C) Your social security number.
(D) Your full new address.

(E) A statement indicating that you would like to update your address information.
(F) Two proofs of your new address, i.e., a copy of a current utility bill, a copy of your signed lease or a copy of your bank statement.
(G) A copy of your social security card and drivers license.