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  • FIRST POST
    • RG2015
    • By RG2015 7th Sep 17, 11:37 AM
    • 457Posts
    • 205Thanks
    RG2015
    Accounts not on my credit report
    • #1
    • 7th Sep 17, 11:37 AM
    Accounts not on my credit report 7th Sep 17 at 11:37 AM
    One of my bank accounts and one of my credit card accounts do not appear on my credit report. They are both over 40 years old with a modest unused overdraft facility on the bank account and a large credit limit on the credit card.

    I will be looking for a new 0% balance transfer card when my existing ones run out.

    Will it increase my chances of being accepted if I get my bank to release this information to the credit reporting agencies?

    PS I am posting this second time as my first post has been inexplicably removed. I have asked the administrator to explain and am waiting for an answer.
    Last edited by RG2015; 07-09-2017 at 11:41 AM.
Page 1
  • National Debtline
    • #2
    • 7th Sep 17, 3:08 PM
    • #2
    • 7th Sep 17, 3:08 PM
    Hi RG2015,


    First there are 3 credit reference agencies, so it is worth checking all 3 before you do anything as they all hold slightly different information. No need to sign up to the pricey monthly subscriptions, a £2 statutory report will do.


    If these accounts still don't show it is most likely to do with the age of them. If the overdraft is unused in the last 6 years then there is nothing to report, and likewise with the credit card. But whether more debt appearing on your file would improve your chances of getting more credit is difficult to say.


    I appreciate that good history is better than no history, but the creditor will take more than just your credit file into account when assessing you for new credit. They will also consider your age, and other financial commitments etc. Check all 3 files and then go from there,


    Laura
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • RG2015
    • By RG2015 7th Sep 17, 5:25 PM
    • 457 Posts
    • 205 Thanks
    RG2015
    • #3
    • 7th Sep 17, 5:25 PM
    • #3
    • 7th Sep 17, 5:25 PM
    Hi Laura,

    Thank you for your reply which I will take into account before making any decisions.

    As far as all three credit reporting agencies are aware I have several bank accounts and credit cards less than 3 years old. They apparently have no idea that I have a bank account and a credit card that have been used every month for over 40 years.

    As regards my earlier deleted post on this same topic, MSE have emailed me to advise that they inadvertently deleted it along with several spam posts.
    • glosoli
    • By glosoli 7th Sep 17, 8:31 PM
    • 673 Posts
    • 386 Thanks
    glosoli
    • #4
    • 7th Sep 17, 8:31 PM
    • #4
    • 7th Sep 17, 8:31 PM
    Because it is difficult to say, as every lender has different criteria for different products and nothing is known regarding the original posters wider circumstances beyond a couple of paragraphs.

    The fact is scores don't mean anything, and it is the history that counts.
    Last edited by MSE ForumTeam5; 08-09-2017 at 11:56 AM. Reason: Quoting deleted post
    • PaulW922
    • By PaulW922 7th Sep 17, 9:17 PM
    • 783 Posts
    • 300 Thanks
    PaulW922
    • #5
    • 7th Sep 17, 9:17 PM
    • #5
    • 7th Sep 17, 9:17 PM
    It is possible that a current account or credit card issued 40 years ago did not allow for reporting to a CRA in the terms and conditions...
    • RG2015
    • By RG2015 7th Sep 17, 9:53 PM
    • 457 Posts
    • 205 Thanks
    RG2015
    • #6
    • 7th Sep 17, 9:53 PM
    • #6
    • 7th Sep 17, 9:53 PM
    It is possible that a current account or credit card issued 40 years ago did not allow for reporting to a CRA in the terms and conditions...
    Originally posted by PaulW922
    Thank you for your input but it is not just possible, it is a fact. I am not asking why my accounts do not appear. I am asking if their appearing on my reports would improve my chances of being approved for a new credit card.
    • YorkshireBoy
    • By YorkshireBoy 7th Sep 17, 10:20 PM
    • 29,527 Posts
    • 17,326 Thanks
    YorkshireBoy
    • #7
    • 7th Sep 17, 10:20 PM
    • #7
    • 7th Sep 17, 10:20 PM
    Thank you for your input but it is not just possible, it is a fact. I am not asking why my accounts do not appear. I am asking if their appearing on my reports would improve my chances of being approved for a new credit card.
    Originally posted by RG2015
    No one here will know that. On the positive side:

    * You will have held your longest held account a long time.
    * The average age of your accounts will be increased.

    But on the negative side:

    * You will now have more 'available' credit.

    So does the first outweigh the second, or does the second outweigh the first? To answer that, we'd need access to the algorithms the lenders use. See what I mean?
    Last edited by YorkshireBoy; 07-09-2017 at 10:41 PM.
    • bazzyb
    • By bazzyb 7th Sep 17, 11:07 PM
    • 1,040 Posts
    • 3,194 Thanks
    bazzyb
    • #8
    • 7th Sep 17, 11:07 PM
    • #8
    • 7th Sep 17, 11:07 PM
    1) We don't know enough from the OP to know what their situation is and to know whether the information showing (or not) would make the blindest bit of difference to their chance of success.

    2) I assume you don't already know the OP's fictional credit score, so therefore you have no idea if the missing account would actually increase their fictional credit score or not.

    3) Lenders don't see the credit scores which the CRA's create for individuals, they only see the history so the actual credit score will have minimal impact.

    (Text removed by MSE Forum Team)
    Last edited by MSE ForumTeam5; 08-09-2017 at 11:57 AM. Reason: Quoting deleted post
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