Experian Credit Expert

RohanSix

Evening all,

I recently subscribed to the Credit Expert service to ascertain why exactly I have been declined both Credit Cards and Broadband in the last 6 months.

The problem is that Credit Service doesn't seem to provide me with any information of value, everything listed I knew already. Is it worth paying the extra £5.95 for my credit rating? Will this give me the tools to better my credit rating?

Thanks in advance

td_007

Short answer-NO. The so called scores calculated by Experian can be as good as any random number pulled out a hat because different companies/banks/agencies have their own ways to calculate your credit worthiness (credit score).

The only plus of signing up is that you view "real-time" info going onto Experian credit file. This however, is of limited advantage - if you like you can get a statutory report every month and it will cost you just £24 per year and this way you easily keep tab of your file. All I can say is DITCH!

withabix

Not all companies use the same credit reference agencies, neither do they all check the same ones. Your problem might not show up on Experian but may do elsewhere.

There are three main ones - Experia, Equifax and CallCredit, but Equifax is 2nd to Experian (and probably easier to cancel your subscription. Experian are crooks when it comes to making cancellation as difficult as possible...)

At the moment, if your record is anything less than perfect (eg late payments or payments missed), expect problems. If you've got any REDS on Experian, expect to be refused anything.

lisyloo

Experian are crooks when it comes to making cancellation as difficult as possible

I thought it was the other way round, but i could have that wrong.

Personally I recommend people pay £2 to get their statutory report rather than get the free ones.
Trouble is they are difficult to cancel and you can end up either spending hours on phone calls (which costs money AND time) or you don't get it cancelled and pay a much higher charge. Easiest just to pay the £2 in the first place.

NickX

Personally I wouldn't pay a CRA a penny unless I really had to.

Any funds paid to CRAs reduce hard to come by stoozing profits. If I get a rejection I'll just try somewhere else - each Provider had their own acceptance criteria, so generic scores\information from the CRAs does not necessarily provide an accurate guide to acceptance.