CRA's Do they ever do credit scoring for lenders etc

Bosie

When I' m not posting I like to look back at previous posts on different areas of the forum, just read a post from last year. The OP failed a credit check with T-Mobile, and another poster said it would have been Equifax who would have done the scoring,rather than T Mobile themselves?

Just a wondering if they do that sometimes.

duggie1982

Good question. I thought lenders have their own scoring system and use CRA's to 'tick' the boxes

stephane_2

they should not, CRA are only there to provide informations regarding data on past addresses, electoral roll and how your manage your accounts (paid on time, any late/missed payment, default etc...). The credit scoring of a CRA is just a way for them to make money out of us as each lender have their own rules as to who they wish to have as their customers!

Bosie

stephane wrote: »

they should not, CRA are only there to provide informations regarding data on past addresses, electoral roll and how your manage your accounts (paid on time, any late/missed payment, default etc...). The credit scoring of a CRA is just a way for them to make money out of us as each lender have their own rules as to who they wish to have as their customers!

According to Experian I have a poor credit score, they know I have adverse details going back a few years, yet the last 3 years it's unblemished. Yet I have been able to get what I have posted on my sig below!

So left to Experian doing the scoring I'd get a big at NO:eek:

stclair

Bosie wrote: »

According to Experian I have a poor credit score, they know I have adverse details going back a few years, yet the last 3 years it's unblemished. Yet I have been able to get what I have posted on my sig below!

So left to Experian doing the scoring I'd get a big at NO:eek:

You do make me laugh bosie.

I wonder if there are actually people who work for the CRAs on these forums lol

Bosie

You do make me laugh bosie. Good, glad about that:rotfl:

I wonder if there are actually people who work for the CRAs on these forums lol

They could be lurking somewhere:D

Hope you are going ok stclair.

never-in-doubt

No a CRA cannot give any help to a lenders specific scorecard and have no influence on lending decisions. They only offer the data they hold to which the lender assess on their own merit - if a CRA got involved in the application/scoring process they'd need a host of new licences and would be properly regulated - both are lacking, sadly.

Short answer is that only a lender can credit score - the CRA is the data controller, that is all.

never-in-doubt

koasdj wrote: »

I never look back like you. anyway, each person have their own habit:j

Are you just building a post-count or do you have anything constructive to say? It is recommended that each and every person check their credit report on a regular basis as there is a lot of ID Fruad around.....

Its not a habit, smoking is a habit. Drinking is a habit. Getting your credit report is actually taking advantage of your right under the consumer credit and dat protection act - nothing to do with 'habit'.

McPete_2

Some CRA's do provide a scoreing system, as well as other analysis for lenders. I know experian does this as I use it.

Experian’s comprehensive range of consumer and business data, reporting and scoring software

http://www.experian.co.uk/www/pages/what_we_offer/manage_risk/manage_risk.html

never-in-doubt

McPete wrote: »

Some CRA's do provide a scoreing system, as well as other analysis for lenders. I know experian does this as I use it.

http://www.experian.co.uk/www/pages/what_we_offer/manage_risk/manage_risk.html

NO they do not. Accept it.

It is illegal and would be a conflict of interest, they are unlicenced and they are not in a position to offer consumer credit so cannot score.

I think you ought to check the facts. Risk management (i.e. Experian Data Analytics) is NOT credit scoring consumers! Experian can offer scoring software but they cannot and do not score directly for a lender, as this would be a major breach of CCA and DPA.

Joe_Bloggs

Experian through paymybills claim to be able to find credit deals that match the individuals circumstances. Are they correct in their claims ?
J_B.