Experian Credit Report question

Patmoore

Hey, i recently applied for the Capital One 0% BT (upto Jan 07) and was declined for it.

I decided to check my credit report online, which basically showed very little (an old bank account with Abbey and Direct debit from Orange Mobile). It had no record of me having a C/C with HSBC and two bank accounts with them or having an 02 mobile phone bill coming out.
I also have a loan, which i'll pay of before interest is charged on it, (Career Development Loan) of which there is no record on my report.

Now I'm all confused as to what exactly should a report show? Any help would be appreciated, all I'm trying to do is get another card so I can BT onto it.

YorkshireBoy

Patmoore wrote:

Now I'm all confused as to what exactly should a report show? Any help would be appreciated, all I'm trying to do is get another card so I can BT onto it.

Have a look at Martin's "Credit Rating" article, which can be accessed from the blue box above your first post...

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101485056,23650,

Does this answer your question?

Patmoore

Yes that answers a bit actually, still need to get hold of my bank and Experian to figure out how to get the 'missing' information onto my report. There is just so much missing, it's unreal

I'll look onto Equifax's report, to see if it's any different.

Thanks for the help

Rickycowslip

I too applied for the Capital One card Patmoore, and was surprised to get decined - prompting two £2 requests Experian and Equifax. Sure enough clean bill of health, though it clearly showed I was a rate tart ! To be fair, it amazes me I get given so much credit when it seems obvious they're unlikely to make any money from me...

YorkshireBoy

O2 and your loan provider could possibly just report to Equifax.

HSBC, and indeed a lot of the high street banks, do not report good account conduct to the CRA's. However, there are strong indications that this is about to change.

Patmoore

I've heard that might be about to change as well.

Looks like I need to get on the phone and get a few things sorted, as the lack of information passed down is silly. Then I need to hope for the best.

Again, cheers for the help.

YorkshireBoy

Patmoore wrote:

...all I'm trying to do is get another card so I can BT onto it.

Having your HSBC accounts showing on your CRA reports could do you more harm than good. This is particularly true if your available/used credit is "high" (in relation to your salary) with your credit card and overdraft at HSBC.

If you add in a mortgage, a recent house move (ie not yet on electoral roll), and perhaps a new bank account or new job, then these all add up to work against you with new lenders.

Have you asked Capital One why they declined you?

Patmoore

Capital One said my credit score, which they claimed to work out, was not high enough for that specific card.

Just a lo-down, i earn £25k/pa and my credit limit is £5k, with my used amount at £3k. My outgoings are just my mobile bill and Internet bill at £60 a month in total.

What i'm gonna do is have a chat with someone from Capital One to see if it's worth me appealing my case. Alas I await you to tell me, that's not a good idea

YorkshireBoy

Patmoore wrote:

Alas I await you to tell me, that's not a good idea

On the contrary, I think it's a very good idea since you have already suffered the credit search. Good luck.