Experian 'lower my bills' - quite useful?

sarahs999

I've been a member of experiean for a while (yes, I signed up to see my free credit report and never cancelled, but I actually find it really useful). I just noitced that they have a really useful tool for finding new mortgages/credit cards/loans, where they look at the infor they have on file for you and then tell you which cards you're most likely to get. They found a couple of reallly good BT deals for me, 15 months at 0%, only available to Natwest account holders. Just thought I'd flag it up in case anyone else can make use of it.

PNPSUKNET

see it but not sure how acurate it is.

TheEffect

I don't think it's very accurate. It seas I currently do not meet any requirements for any credit card. I've got Aqua, Cap1 and Vanquis.

cifpower

I asked it to search for a balance transfer card and it only brought up pre-pay ones. When I checked for cards to improve my credit rating, the same thing happened.

Bosie

I used it the other week as I didn't have a credit card due to previous history, it brought up Vanquis and Cap1, not Aqua.
So went for the Vanquis and got immediate approval!
I didn't go for Cap1 as 5years+ they were one of my creditors so probably still in their ''naughty book'' They must have some insight, think it will be a while until I get a mainstream card.

PARIS_5000

I used it today and it only offer me capital one which I already have. It not very accurate because I have good credit and have a HSBC credit card but that did not come up as a option .

Twister84

cifpower wrote: »

I asked it to search for a balance transfer card and it only brought up pre-pay ones. When I checked for cards to improve my credit rating, the same thing happened.

It's just done the same with me - almost had a heart attack!

jonnyb

PARIS_5000 wrote: »

I used it today and it only offer me capital one which I already have. It not very accurate because I have good credit and have a HSBC credit card but that did not come up as a option .

this is an assumption on my part, but surely creditexpert is using the data on your credit file to help find the right deals for you.

so it knows you already have a hsbc credit card, therefore it won't suggest that as an option for you, as you won't be eligible for a second hsbc card.

I'm going to try it myself later.

danielanthony

I think it only checks lenders which exclusively use Experian - that is not many. It is not an 'all of the market' tool. I got offered a Halifax card through this scheme, they only search Experian. This thread might help:

http://forums.moneysavingexpert.com/showthread.html?t=1678785

I imagine they do this as they cant cross reference Equifax and so they dont know what data Equifax may hold which would jepardise any application you made.

sarahs999

Thanks for all your input. I guess I just got lucky with my cards then. Didn't realise they weren't all of market, that's a bit naughty of them. What don't they cover? I got everything from hsbc and the big four to post office and egg.

Jemma-T

Experian? I hear they use Twitter and buy organic fruit at ASDA.

Why do people give their details to these scumbag companies to sell on and then buy other stuff off them?

Experian/Equifax make money off people who have money to waste. They may provide a service for business (ie sell your info to bailiffs and parking fine companies) but their retail side makes me feel sick.