Credit Score Basics > Does changing your name affect your credit?

Does changing your name affect your credit?

Wollit Team2 minute read · Updated 17th September 2024

Changing your name can be a big event in life, whether it's due to marriage, divorce, or just by personal choice. Plus, changing your name is very easy in the UK, compared to most countries.

However, if you're thinking about changing your name, you might be wondering if this can affect your credit score. Here’s what happens to your credit rating when you change your name and how to manage your credit report during this process.

What happens to my credit score when I change your name?

The good news is that changing your name does not directly affect your credit score. Your credit score is based on your financial history, like how you handle loans and credit cards. Changing your name does not change this history at all.

Also, when you change your name, all of your past financial behaviour remains linked to your new name. This means that any good or bad marks on your credit history stay intact.

Actually, after you change your name, lenders can still see your previous names on your credit report. This helps them connect your old credit history with your new one.

However, while changing your name doesn’t affect your score, it might create some confusion for lenders. You should inform all banks, lenders, and service providers about your new name. This includes updating accounts linked to credit cards, loans, and utilities.

Finally, make sure to register your new name on the electoral roll. This helps lenders verify who you are and keeps accurate records. If you don’t update your name with creditors and on the electoral roll, lenders may find outdated information that could lead to confusion about who you are and what you owe. If lenders can’t verify who you are because of mismatched names, they may deny credit applications or offer less favourable terms.

How long does it take for my new name to appear on my credit report?

Once you've notified creditors about your name change, it usually takes one billing cycle (about a month) for them to update their records with the credit reference agencies (Experian, Equifax, and TransUnion).

Do I need legal documents to change my name?

Yes, when changing your name officially—such as through marriage or deed poll—you may need legal documents like a marriage certificate or deed poll certificate to update banks and other institutions.

What should I do if I see incorrect information after changing my name?

If you notice any incorrect information on your credit report after changing your name, contact the relevant credit reference agency (Experian, Equifax, or TransUnion) immediately to correct it. You should also contact the banks or other companies that are responsible for those incorrect entries on your credit file.

Will changing my name erase my bad credit history?

No, changing your name will not erase any negative marks on your credit history. If you have missed payments or defaults, these will still appear on your report even after a name change.

However, if you’re concerned about your past credit mistakes, the best solution is to work on building a new, stronger credit history.

The good news is that now there are many apps that can help you build and improve credit. One such app is Wollit.

Wollit works by reporting a fixed-fee monthly subscription as a loan repayment to all credit reference agencies. This helps you build a history of timely debt repayments, which is the main factor that matters for your credit score.

On top of this, Wollit can also report your monthly rent payment to Experian. This can add another line in your credit report that shows lenders you pay your bills on time, helping you reduce the impact of an old mistake in your overall credit history.