credit card use info on file???

clio

Do CRA's not share information with each other if not "why not !!"

exel1966

NO, not that type of information, just as all financial companies do NOT report to ALL CRA's, which is why when looking at your own history a credit agreement/account may be listed with one CRA and not another.

Certain info though is available from other sources for ALL the CRA's to see i.e CIFAS markers.

YorkshireBoy

exel1966 wrote: »

Certainley NOT on my Equifax report. Maybe you could explain exactly where it is on yours ?

My recently obtained Equifax postal report shows the changes...some already here, and some to come.

Currently there is a month-by-month balance and credit limit shown, but there is space for additional information EACH MONTH which will show...

Payment amount
Previous statement balance
Number of cash advances
Amount of cash advances
Promotional rate indicator
Payment code

It's looking pretty bad on my report because it shows my MBNA card's balance reducing by only £5 per month and because there's no promotional rate indicator shown it looks like I'm struggling with my debt. In fact, I couldn't be happier with it!


Experian's new credit account information layout (although not yet on postal reports) can be seen on page 16 of their 'Your credit report explained' booklet here...

http://experian.metafaq.com/resources/experian/Downloads/Credit_report_explained?keepNLPQuery=true&oldid=O3E0L10U0L6HHJ81JRKBNN2OIO

exel1966

My last online Equifax report is dated 05 July 08, and shows none of the above. How recent is your report ? Is it shown on postal reports only possibly ?

This could all be detremental to stoozers !

YorkshireBoy

exel1966 wrote: »

My last online Equifax report is dated 05 July 08, and shows none of the above. How recent is your report ?

5 weeks after yours.

Is it shown on postal reports only possibly ?

Can't answer that one.

This could all be detremental to stoozers !

We're going to find out because I'm blitzing 4 or 5 applications as soon as the September CRA updates are done.

normanmark

louiser123 wrote: »

on just one more note if they give you a card, give you 5000 limit, you use it, pay back on time regardless of wether its minimum or full balance then thats up to me surley, might have thousands in the bank but dont fancy paying full balance, if you have the limit in my mind its up to you how you use it so long as its payed right either way.
sorry but i just feel lately that some of the information held on all of us isnt needed, but we just simply take it for granted that its right. banks and financial institutions as well as other gov bodies hold information they dont always need then when fraud occurs and identity theft they actually have the balls to blame us!!

ok moan over i got that off my chest!!:D

I think you're being a bit paranoid to try to link spending patterns, and account balances with identity theft.

The information that's there currently is all an integral part of building a profile of a prospective customer to predict how they would behave if they were given credit.

clio

Whats a Payment code Y/B??

louiser123

i have all the information on my online credit report that yorkshire boy has listed, and i dont feel im being paranoid at all, i do honestly feel that this day and age far too much information on people is recorded somewhere not all to do with credit.
my way of thinking is if i apply for a credit card, i am accepted and they give me a credit limit to use i would think its up to me to utilise it how i want to, and the information on how much i spend on it each month and wether i repay full part or minimum is my business and that of the crdit card institution in question, i would say that credit reports were initially devised to share payment information to give lenders an indicator of the customers payment history, if they are always late, default or constantly dont pay then ok they dont get more credit, but if a card account is payed on time in line with the agreement then surley thats enough information.
on my equifax it states all the info as y/b has said and as far as i know came into force recently, remember reading about it but cant remember where.
so yes i would say how you use it, how much you spend and how much you actually pay is now taken into account.
one month i could have a zero balance next month maxed out further four paying a little more then back to zero, but thats not a true picture to any lender is it? as it can change each month so is unreliable and penelising many esspecially stoozers if that info is actually not accurate when uppdated as my husband found out recently,
paranoid no, just a bit angry at my spending habits although not bad, are openly shared.:mad:

louiser123

I think you're being a bit paranoid to try to link spending patterns, and account balances with identity theft.

experian say it is actually to prevent just that in thier leaflet in the link provided above!!!

Richard019

louiser123 wrote: »

i have all the information on my online credit report that yorkshire boy has listed, and i dont feel im being paranoid at all, i do honestly feel that this day and age far too much information on people is recorded somewhere not all to do with credit.
my way of thinking is if i apply for a credit card, i am accepted and they give me a credit limit to use i would think its up to me to utilise it how i want to, and the information on how much i spend on it each month and wether i repay full part or minimum is my business and that of the crdit card institution in question, i would say that credit reports were initially devised to share payment information to give lenders an indicator of the customers payment history, if they are always late, default or constantly dont pay then ok they dont get more credit, but if a card account is payed on time in line with the agreement then surley thats enough information.
on my equifax it states all the info as y/b has said and as far as i know came into force recently, remember reading about it but cant remember where.
so yes i would say how you use it, how much you spend and how much you actually pay is now taken into account.
one month i could have a zero balance next month maxed out further four paying a little more then back to zero, but thats not a true picture to any lender is it? as it can change each month so is unreliable and penelising many esspecially stoozers if that info is actually not accurate when uppdated as my husband found out recently,
paranoid no, just a bit angry at my spending habits although not bad, are openly shared.:mad:

They're only openly shared with people who are doing a credit search on you. These are people considering making an adjustment to your available credit, either in an increase or a new account.

Your credit file is like a reference when applying for a job. If you turn up half an hour early for work every day and leave half an hour late and generally go beyond what you have to do because you have pride in your work then you would expect to get a better reference than someone who turned up with a minute to spare, scraped through doing the minimum all day and then left as soon as the clock hit the end of their shift.