Out of date balance showing on Experian/Equifax for Lloyds Credit Card

ackone
ackone Posts: 8 Forumite
in Credit file & ratings
Good morning all, this is my first post, so please be gentle.

I have just paid off all my credit card debt (Martin would be proud) as part of a mortgage application process.
Several weeks later, my credit files at both Experian and Equifax are still showing the out of date balances on some of the cards. (Some are now showing zero)

Experian say I should speak to Lloyds Bank, but I can't seem to get anyone on the phone who knows what to do .

My partner has an identical problem with Barclaycard, we have zero balances now on all our cards, and "Just waiting" isn't really an option.

Does anyone have any info on the "Credit file liason team" for Lloyds or Barclaycard, if such a thing exists. Many thanks.
A.
«1

Comments

  • Candyapple
    Candyapple Posts: 3,384 Forumite
    First Post First Anniversary Combo Breaker Intrepid Forum Explorer
    It can take up to 3 months for the updated data to be shown on your credit files and nothing can be done to speed it up so to speak as it is all down to whenever the bank/card company decide to report their data to the CRAs.

    If you needed to clear your balances for a mortgage application, print out a copy of your credit card statement showing the zero balance, this should be sufficient, or ask for one to be posted to you.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    Combo Breaker First Post Newshound!
    EXACTLY when did you repay the balance on the Lloyds card? Tell us the exact date and I will tell you when you should expect to see this balance reflected on your credit files.
  • ackone
    ackone Posts: 8 Forumite
    Hi there, the payment showed on the credit card on the 26th June. Thanks for your help.
  • ackone
    ackone Posts: 8 Forumite
    Speaking to Experian, apparently the cards are updated monthly, but this hasn't happened.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    Name Dropper First Post Photogenic First Anniversary
    ackone wrote: »
    Speaking to Experian, apparently the cards are updated monthly, but this hasn't happened.
    ackone wrote: »
    Hi there, the payment showed on the credit card on the 26th June. Thanks for your help.

    ???

    The transaction is dated 26th June on your credit card statement. Experian have told you that credit cards are updated monthly. Today is 19th July. There is less than a month between 26th June and 19th July.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    Name Dropper First Post Photogenic First Anniversary
    Why is waiting for your credit files to update not an option? Just because your Experian credit file has updated doesn't mean that lenders will see it straight away. Lenders using only get the credit file data once a month sometimes longer. I think Santander only buy the data every 3 months.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Name Dropper Photogenic First Anniversary First Post
    ackone wrote: »
    "Just waiting" isn't really an option.

    Unless the balances are significant shouldn't be a deal breaker.
  • ackone
    ackone Posts: 8 Forumite
    The balances were very significant, and were a deal breaker. I should have taken care of them sooner, but was advised (poorly) that the balances wouldn't significantly affect my application.
  • ackone
    ackone Posts: 8 Forumite
    Hi Pixie, thank you for you r help,

    "Just waiting" isn't an option, because my fixed rate mortgage is expiring, and I won't be able to switch to the mortgage I want with the Credit Card info showing.

    I have spoken to Experian, as I mentioned previously, who say I need to speak to a Credit File liason team ... if such a thing exists, and they can "Push" my updated balance info over the credit referencing agencies.
  • ackone
    ackone Posts: 8 Forumite
    Lloyds updated today ... I'm a perfect 999 on Experian now !!! Just need to get equifax and noddle sorted. Thanks for the help.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards