Credit Score Basics > What does a "Q" mean on my credit report?

What does a "Q" mean on my credit report?

Wollit Team2 minute read · Updated 23rd September 2024

When you check your credit report, you might see the letter "Q." Q stands for "Query" and it basically shows that there is a question or dispute about an account.

While this status does not directly affect your credit score, it can influence how lenders view your financial history when applying for loans or mortgages. Here’s how it works and what you need to do about it.

Why does "Q" appear on my credit report?

The "Q" status is used when there is a disagreement about a payment or transaction related to your account. This could be because of a missed payment, a charge you don't recognize and disputed, or any other issue that you raised with your lender.

Basically, when you raise a query with your lender about an account, they may mark it with a "Q" to show that the account is being looked into. This lets other lenders know that there may be unresolved issues related to that account, and it helps credit agencies keep track of disputes.

How does a "Q" affect my credit score?

The "Q" status itself does not lower your credit score. Most lenders know that a "Q" status indicates a dispute rather than a missed payment or default. They really see it as a neutral marker, and because of this credit reference agencies don’t lower your score if you have one.

What should I do if I have a Q on my credit file?

While most lenders know that a Q just shows an ongoing dispute, some lenders may see a Q marker as a warning sign.

Here is what you need to do:

Explain to potential lenders why the Q is on your report, and what you’re disputing.
Consider adding a Notice of Correction as well. This is a short note that lets you explain why a certain item is on your credit file. Lenders appreciate the context.
Also, if you believe the query has been resolved and the status should be updated, contact your lender. Ask them to change the status to show that the issue has been settled.

However, if you have a Q on your credit report, you should not be too stressed about it.

At the end of the day, though, what lenders care most about is your credit history.

Luckily, now there are many apps that can help you build and improve credit.

One such app is Wollit. Wollit is an app that reports your monthly subscription as loan repayment, helping you build a history of timely repayments without the risk of getting hit with high-interest charges or going over your card limit. It can even report your monthly rent payment to Experian, adding another line in your credit report that shows lenders you're responsible and pay your bills on time. Eventually, this should improve your credit file and put you in a great position when you apply for credit, regardless of any past disputes.