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

never-in-doubt

Joe_Bloggs wrote: »

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

Nope - this was proven on Watchdog.

What they can do, is link you to products that you don't have - they can see what you have/don't have by looking at your file! Its a con, so is their credit score and so is most stuff about them.

Basically a CRA can provide, to lenders upon request by way of your authority to the lender, provide accurate data supplied to them by a lender. Nothing else, nothing more. Claims to the contrary should be rubbished as that is what they are - rubbish!

Moggles_2

Joe_Bloggs wrote: »

Experian through paymybills claims to be able to find credit deals that match the individual's circumstances. Are they correct in their claims ?

I'm sceptical about it's value, tbh. Don't forget they're on lead commission!

As above, credit reference agencies are there to provide your credit history. The actual methodology (and the process of scoring itself) is done by their clients, the lenders. None of us - including the CRAs - knows what criteria are used by individual companies. Lenders do not disclose this information

Credit reports, when ordered directly from Experian and Equifax, are valuable. After all, this is the information lenders search when you apply for credit. Experian provides accompanying notes, which are a good read, at no extra charge. Additional services are a nice little earner for the agencies, but of little practical value to cc applicants and certainly not worth paying extra for. Unfortunately, these add-ons distract some users from tackling the things that really matter.

McPete_2

never-in-doubt wrote: »

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.

Well, they clearly do. You can put what you want in red, but that fact remains that I use Experian which provides a risk score amongst other scores and the link I just provided to Experian states that they provide "reporting and scoring software" for businesses.

Why don’t you provide some proof rather just saying "accept it"! Let’s see some facts…

never-in-doubt

Because I do not need to. It is a fact. I am not arguing, the link you provided is to Experian Data Analytics and if you are unsure of what they do may I politely suggest you learn before coming here comfusing members of untrue tales.

It is illegal for a CRA to credit score as they are NOT LICENCED. There are 1000's of people on here that will confirm this. If however you can provide me proof that'd be better. At the end of the day the onus is on you to prove your claim in the last post not for me to disprove, but I can by referring you to the CCA1974 which will tell you what you need to know. Failing that you can ask the ICO.

Ive just come off the phone and they confirm exactly what I say. That, unfortunately, is impossible to prove.

You are specifically referring to risk based on business not conumer credit which is something totally different. Please look at Moggles recent post as well: #14 - both myself and Moggles help a lot of people on here and don't get things like this wrong.

ElkyElky

never-in-doubt wrote: »

Because I do not need to. It is a fact. I am not arguing, the link you provided is to Experian Data Analytics and if you are unsure of what they do may I politely suggest you learn before coming here comfusing members of untrue tales.

It is illegal for a CRA to credit score as they are NOT LICENCED. There are 1000's of people on here that will confirm this. If however you can provide me proof that'd be better. At the end of the day the onus is on you to prove your claim in the last post not for me to disprove, but I can by referring you to the CCA1974 which will tell you what you need to know. Failing that you can ask the ICO.

Ive just come off the phone and they confirm exactly what I say. That, unfortunately, is impossible to prove.

You are specifically referring to risk based on business not conumer credit which is something totally different. Please look at Moggles recent post as well: #14 - both myself and Moggles help a lot of people on here and don't get things like this wrong.

Just let him assume whatever. Next time he is declined for a credit card application.. when he writes to Experian to appeal the decision, he'll look like the fool. :rotfl:

McPete_2

never-in-doubt wrote: »

Because I do not need to. It is a fact. I am not arguing, the link you provided is to Experian Data Analytics and if you are unsure of what they do may I politely suggest you learn before coming here comfusing members of untrue tales.

It is illegal for a CRA to credit score as they are NOT LICENCED. There are 1000's of people on here that will confirm this. If however you can provide me proof that'd be better. At the end of the day the onus is on you to prove your claim in the last post not for me to disprove, but I can by referring you to the CCA1974 which will tell you what you need to know. Failing that you can ask the ICO.

Ive just come off the phone and they confirm exactly what I say. That, unfortunately, is impossible to prove.

You are specifically referring to risk based on business not conumer credit which is something totally different. Please look at Moggles recent post as well: #14 - both myself and Moggles help a lot of people on here and don't get things like this wrong.

I have provided proof. You have provided nothing...You don't have a shred of evidence to back up what you're saying. Are you basing this on what other people think, or do you actually have any experience or insider knowledge to back this up?

ElkyElky

McPete wrote: »

I have provided proof. You have provided nothing...You don't have a shred of evidence to back up what you're saying. Are you basing this on what other people think, or do you actually have any experience or insider knowledge to back this up?

I can tell you this right now, he has far more experience and knowledge regarding these sort of things than you could ever imagine.

never-in-doubt

McPete wrote: »

I have provided proof. You have provided nothing...You don't have a shred of evidence to back up what you're saying. Are you basing this on what other people think, or do you actually have any experience or insider knowledge to back this up?

Both!

It is a fact, as I say ring Experian, the ICO, in fact ring anyone and also remember to check their licence for issuing credit, obviously you know they need this in order to credit score (offer credit)??

I think if you read the actual link you posted you'll see where you've gone wrong, but you have misread or been misinformed. I know pretty much all there is to know about CRA's being i'm in the process of taking two of them through the courts!!

never-in-doubt

Try this for a start: http://www.experian.co.uk/downloads/consumer/mythsV6.pdf

Go to page 2 and read: Do credit reference agencies hold a blacklist of people or properties?

savagej

I think what is meant by Experian's own website in stating we supply software for credit scoring is not that they do the scoring themselves but that they offer a service whereby a company can easily set-up a scorecard in the form it wants it, using the data fed to it by Experian following a search.