We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
New credit reference data sharing
aliasojo
Posts: 23,053 Forumite
in Credit cards
Recieved the following info in an email today.......
If you have an account with HSBC or Lloyds TSB, you may get an alert about this account from CreditExpert in August. Don't worry – it’s actually good news.
From August, these banks are providing new data to Experian, the credit reference agency behind CreditExpert. They have decided to share the details of more accounts in an effort to support responsible lending. You will have been told that your data would probably be shared when you opened the account. If you do have one of these accounts, when the information is added to your credit report it will trigger a new account alert, even though this may be an account you have held for several years.
If you have an account with HSBC or Lloyds TSB, you may get an alert about this account from CreditExpert in August. Don't worry – it’s actually good news.
From August, these banks are providing new data to Experian, the credit reference agency behind CreditExpert. They have decided to share the details of more accounts in an effort to support responsible lending. You will have been told that your data would probably be shared when you opened the account. If you do have one of these accounts, when the information is added to your credit report it will trigger a new account alert, even though this may be an account you have held for several years.
Herman - MP for all! 
0
Comments
-
I was made aware (much to my displeasure!) that HSBC were doing this on this forum last week, there was no mention of LLoyds TSB doing it as well! :eek: I hold bank accounts and credit cards with these two banks that up until now have been 'secret' from the rest of the financial industry and that is just the way I liked it! So flippin' LLoyds TSB are doing it as well now then huh? Champion, just flippin' champion :mad: :mad: :mad:~What you send out comes back to thee thricefold!~~0
-
I opened a LloydsTSB current account in December - at the time I was trialing CreditExpert. The search & account showed up quickly. So they've probably been doing it recently, just a case of passing data on all the customers who've had accounts for years.0
-
That's a shame, it was nice to have my HSBC card "hidden" on credit reports. I'll just cancel it then since I don't use it and their existing customer offers are crap (5.9% for 6 months BT...)0
-
charlie12 wrote:That's a shame, it was nice to have my HSBC card "hidden" on credit reports. I'll just cancel it then since I don't use it and their existing customer offers are crap (5.9% for 6 months BT...)
Try pushing them a bit harder, my husband and I regularly have around 20k between us at 3.9%. Not ideal for stoozing, but when you are battling to get major debts paid off it is a godsend. At the end of the six months we just pay it off - from a higher rate credit rate - and then BT it back again. Been doing it for about 2 years now.0 -
Al_Mac wrote:They are all going to be doing it.
It's called white data, gives everyone a clearer picture of what you owe or could owe.
However with all systems taking data from third parties, it is bound to get out of line, errors will be made both at the financial institution and Experian.
Could be interesting
:beer:
Hi Al Mac,
After reading your post I put a search in google for 'white data' and couldn't come up with anything. What's this 'white data' all about and where did you learn about it?~What you send out comes back to thee thricefold!~~0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards