Notice of correction

DanDan123

Just a quick one if anyone has any experience or advise.

I have applied a notice of correction to my credit file (About 18 months ago), explaining why i have defaults from 3 years ago, and one CCJ. This was explained to me as an option by Experian, which means that any credit applications are dealt with by a human and not just by a machine.

My question is this: Do you think that this actually helps? Or would i be better of removing it?

Would be interested to hear from anyone that has any thoughts on the subject.

Cheers

naijapower

From my experience, It helps in some mortgage application cases especailly back in days (before the recent mortgage crisis). some lenders took this explanation to hand. Apart from the reason stated in the notice, they also considered the if the default had been settled or not.
I dont think any explanation would help in the current market climate as most lenders have raised the credit score bar.

DanDan123

Thanks - that is quite useful to know.
Just not sure if it actually hinders when the defaults are 3+ years old. I know i wouldnt get anything mainstream i.e 0% but maybe some of the slightly higher APR cards etc. Maybe?!
Should i leave it or delete it?

naijapower

I would leave the notice as it automaically makes them review manually and gives a better chance of acceptance as against instant decline. Obviously as you stated you stand a chance with higher rate cards etc. Capital one is quite good as you can use their credit card selector to check eligibilty.