Credit Reports

megs11_2

Hi all,

I've been reading this forum and I've seen a few posts that talk about behaviour scoring and black and white marks. Where can these marks be found? I have signed up to the free online trials for Experian and Equifax but I can't find anything, which I quite suprising as I expect something to be there as I was refused a phone contract in 2005.

Thanks.

LillyDinero

Although you were declined for credit it doesn't say that on your credit file. it just records as a search, if you aplied 10 times for something and kept getting declined but never actually opened an account, then it might look a little more suss!!

As for behavioural scoring this tends to be something built into the systems of credit companies and they use this to assess your credit worthiness, plus other things. It's again something that won't show up on your credit file and you'll be hard pushed to find out what your score is as every company is different.

On you credit file there might be an overall score which takes into account your credit, VR, the area you live in etc but this would depend on the type of report you get. I use checkmyfile.com and find them useful for getting all 3 reports and it gives you a score but a score is not the bee all and end all of everything.

As long as you pay your bills and run your accounts well you should be OK.

Black and white marks - i'm not sure but think this is a myth. A 'black' mark would be if you failed to pay and would show on your credit history as a missed payment. Not black listed.

megs11_2

It'll probably help if I added some further context.

In May/June-ish 2005 I kinda went mad across a couple of weeks and spent around £2000 on various betting/gambling sites. I went over my overdraft limit (£1500) one evening but replenish my account the day after by clearing my overdraft completely. One month after this when my finances where in the black and in order, I went to O2 to purchase a contract which was refused because I failed the credit checks (can't remember exactly why, wish I enquiried more now!!).

Since then my finances have been in order. I pay my credit card in full every month, deposit over £1000 per month in my account and have never been in my overdraft ever again.

However, now due to my domestic situation I may have to get a mortgage of around £50k, but I don't want to volunteer this option to my parents because I don't want to be refused and have to tell them that it was probably due to my betting in 2005 (could be no other reason why, no loans, debts etc..). Therefore I have checked Experian and Equifax and there's nothing there. I just want to be sure they aren't hiding any black marks of my old behaviour which would result in a mortgage application being refused. On Exerpian I can't remember my exact score but it's Good (only 2 marks off Excellent) and Equifax has nothing bad on it. Can the banks see further or extra informaiton that I can't?

Any help or advice would be greatly appreciated.

LillyDinero

megs11 wrote: »

Can the banks see further or extra informaiton that I can't?

Any help or advice would be greatly appreciated.

I don't think you have anything to worry about. You was refused in 2005 and that was a long time ago - have you applied for any credit since then? Sometimes lenders are wary because if you're not regularly using, or applying for credit they cannot see what type of borrower you will be. If everything on your credit file appears to be ok, I would apply for whatever it is you need.

Everything you see on your credit file, a lender can see and vice versa. There is nothing extra a lender can see on your credit file.

megs11_2

Cool might give it a go then.

Also, just might make a Data Protection Subject Access request for all my information just to double check there isn't anything.