Experian - how accurate?

bbsr_2

Hi there,

I have recently done a credit check on Experian, and it seems to have a missed a lot of things out about me.

It claims I only have one credit card with £140 outstanding, but I actually have three cards with about £2k outstanding. I've had these cards for years.

On the summary it says I am not on the electoral role, but in the detailed report it has my current road name under electoral role entries.

It has recorded 2 late payments in the last 12 months. I would guess it should be more like 6 ... I'm very forgetful and aim to put this right.

So overall it gave me 956/1000 (for 3 months ago, I have to pay to see todays score).

I'm currently applying for a bit of BTing and Stoozing, and wondering whether the credit card companies know more information than Experian?

Should bank accounts with overdrafts be listed here?

Many Thanks

bbsr

NickX

There are 2 other Credit Agencies, Equifax and CallCredit.

Perhaps your other accounts could be reported to these, they do not necessarily appear on all 3.

Bank Accounts with Overdrafts are usually reported to the Credit Agencies.

Older accounts (perhaps pre-2001) are not usually reported either.

exel1966

bbsr wrote: »

Hi there,

I have recently done a credit check on Experian, and it seems to have a missed a lot of things out about me.

It claims I only have one credit card with £140 outstanding, but I actually have three cards with about £2k outstanding. I've had these cards for years.

On the summary it says I am not on the electoral role, but in the detailed report it has my current road name under electoral role entries.

It has recorded 2 late payments in the last 12 months. I would guess it should be more like 6 ... I'm very forgetful and aim to put this right.

So overall it gave me 956/1000 (for 3 months ago, I have to pay to see todays score).

I'm currently applying for a bit of BTing and Stoozing, and wondering whether the credit card companies know more information than Experian?

Should bank accounts with overdrafts be listed here?

Many Thanks

bbsr

As above, but additionally late payments are not recorded in most cases, however missing payments are. There is a difference.

Your score of 956 is meaningless as all companies have different lending criteria which changes regularly.

The rules for recording credit accounts was ammended early 2001, therefore accounts opened prior to this, whether they have an overdraft or not may not be listed. I have various current accounts with different banks, some with small overdraft facilities, none have ever been listed. Accounts with overdrafts after the change should be listed.

bbsr_2

Thanks very much for your replies :cool:

I have applied to Egg and MBNA for credit cards. According to MSE, they both use Experian to do their credit checks. If all they can see about my credit history is the same as I can see with my free trial, then they don't know about the £2k credit card debt and £1k overdraft debt. Can this be true?