Missing Credit Information on Credit Reports

ScriptDaddy

Firstly ... apologise if this is the wrong section.

I have just recieved my credit reports from Experien and Equifax, and I can see all the Credit Agreements I have with various companies, i.e. Bank Accout, Credit Card, Loan, Mobile Phone Contract etc.

However, for some reason, neither have any reference to my HSBC Bank account and credit card. I know I've had both of them for over 6 years, and there is a balance on the Credit Card, so surely this should be listed at least.

Any reason why neither would be showing up on my Credit Reports?

Any information would be great.

Ben

P.S. The only reason I got my Credit Reports, was because I was turned down a Freemans account, so got my report to find out why. Although, still can't see any reason why I was turned down.

file_wizzard

Until very recently HSBC have not reported the status of well managed accounts, they have only ever externally published data on defaulted or delinquent accounts.

However within the last 3 months they have started publishing data to Experian, so it is a case of either;

1) They will not publish your data if you accounts have been well managed
2) Your account data is at the back end of the roll out of the shared information going to Experian.


However from personal experience I would say that they will probably just not bother publishing details of the older accounts, just the more recently opened ones

Loafer

hello,

I think i know why but i am sure someone will correct me if I am not.

I am in the same position as you as my bank nor bank credit card are not on either of my credit reports.

The bank account is over 6 years old so that wont be there anyway.. only the credit check done when opening it would have been but that time has expired. That is unless you upgraded say a cardcash account to a current account. If your bank is anything like mine, it will use an internal credit score to offer new products (except large loans). This is based on a risk factor score depending on how you handle your main account.

Thats how I got my credit card years ago.

that seems to be the way LloydsTSB work AFAIK so I assume its similar for most banks.

I am not sure what would happen to your report should you default a payment though.

HTH.

ScriptDaddy

Thanks to both of you.

Makes sense now why they are not listed.

Ben

Loafer

I am glad it made sense to cos I have just confused myself re-reading my post!

Experian_company_representative

Banks can't share information on accounts opened before they began collecting consent to share full data with the credit reference agencies. The timescales vary but this largely relates to accounts opened before 2001. This may soon change though as the government is due to consult on a legal fix to allow firms to share this historical data in a bid to improve lending decisions and avoid debt. So details of these accounts may well appear on your credit report in the future.

debtfreelondon

Depends what product you're taking out. I've had my account with Lloyds TSB for about 20 years and they done a credit score on an application for a Create card which they turned down. That's with 20 years of faultless account keeping and making the application via internet banking.

Should have gone into branch. Might have stood a chance of getting it.