Does Changing Your Address Affect Your Credit Score?

Moving is a lot to keep track of, but your credit score isn’t one more thing to worry about. Your address isn’t part of your score. It’s on your credit report to confirm who you are. The real risk is a bill going to your old address and getting paid late.

How does changing your address affect your credit score?

Changing your address doesn’t directly affect your credit score. They’re on your report to help the bureaus confirm your identity and match accounts to the right person, whether you move across town or across the country.

What can affect your score is a missed payment. If a lender still has your old address, a bill or notice can go to the wrong place.

Read more >> Does Removing an Old Address From Your Reports Affect Your Score?

Why your address appears on your credit report

Credit bureaus keep your current and past addresses on file, along with other identifying details like your name and Social Security number, to confirm they’re looking at the right file when creditors report new information.

Verifying who you are and associating information with the right consumer is vital for accuracy and fraud prevention. If two people have a similar name, address tracking is one way to differentiate between them.

When an address change could indirectly affect your credit

Missed bills during a move

This is the big one. If a lender still has your old address, a bill or notice can go to the wrong place, and you may not see it if you haven’t turned on email or app alerts. A late payment on your credit report can cause a noticeable drop in your score, even with an otherwise clean history.

If you do find a bill you missed, pay it as soon as you can. Creditors generally report a payment as late only once it’s at least 30 days past due, though you may still owe a late fee. Don’t forget bills that aren’t credit accounts, like utilities, your phone, or a doctor’s office. Those usually don’t report on-time payments, but an unpaid balance can be sent to collections.

That one-way street can work in your favor, too. Kikoff’s Bill Reporting reports your on-time phone and utility payments to TransUnion.

Fraud or incorrect addresses

Don’t be alarmed by an address you didn’t live at. Creditors may report any address where you have received mail, so a P.O. box, a work address, or a joint account holder’s address can show up.

An address you truly don’t recognize is different, especially if it comes with an account you didn’t open. You can get your reports from all three bureaus free every week at AnnualCreditReport.com. If something isn’t yours, dispute it for free with the bureau that lists it. If you’d rather not write the dispute letters yourself, Kikoff’s AI Credit Disputes drafts one for each inaccurate account. If an account you don’t recognize was opened in your name, report it at IdentityTheft.gov.

Address mismatches on credit applications

If you apply for credit soon after moving, the lender may see your old address because your creditors haven’t reported the new one yet. That can slow things down. If you need the update sooner, you can send the bureau proof of your new address.

Read more >> How to Dispute Credit Report Errors

How to update your address with the credit bureaus

Usually, you don’t have to contact the bureaus at all. Experian says that as long as you have open credit accounts, you can update your address with your creditors, and the new address is reported the next time they update your account. Expect some lag.

If you need it on your report sooner, or you don’t have any open credit accounts, you can update it with the bureau directly. You may need to provide a utility bill or bank statement showing your new address, plus a copy of your photo ID. Your old addresses will stay on your report, which is normal. The new one shows as your current address.

Read more >> How to Remove an Old Address From Your Credit Report

How to protect your credit when you move

If you are moving soon or have recently relocated, make sure to take these steps:

• Update your address with everyone who bills you, not just lenders. That includes your bank, card issuers, utilities, phone carrier, insurers, and medical providers.
• Set up mail forwarding at USPS.com or your local post office to catch anything you miss.
• Turn on email or app alerts for your bills, so a due date doesn’t depend on the mail.
• Watch your accounts for unusual activity in the weeks after you move. Credit monitoring can alert you to changes.
• Space out applications for new credit. Each one can mean a hard inquiry on your report.

Bottom line

Moving won’t touch your credit score, as long as your bills follow you to your new address. Your new rent is a different story. It’s likely your biggest monthly bill, but on-time rent doesn’t show up on your credit report unless something reports it. Kikoff’s Rent Reporting sends your on-time rent payments to Equifax and TransUnion, and you can add up to two years of past rent, including your old place, for a one-time $50 fee. Plans start at $5 a month.