Big brother is watching you.

Cash_Flow

If you have had credit card limits slashed recently or have struggled to obtain additional borrowing from your bank.

Have a little gander at the links I have provided below.


http://www.experian.co.uk/www/pages/what_we_offer/products/delphi_for_customer_management.html

http://www.experian.co.uk/www/pages/downloads/case_studies/Santander_CS_V2.pdf

http://www.experian.co.uk/www/pages/downloads/case_studies/Coventry_V4.pdf

I think this is a clear example of the times we live in, now that we as consumers have more and more different avenues of obtaining finance ones credit file seems to be coming under a greater level of scruitiny not just once a month but in "realtime"

The left hand clearly knows what the right hand is doing.

CannyJock

Cash_Flow wrote: »

I think this is a clear example of the times we live in, now that we as consumers have more and more different avenues of obtaining finance ones credit file seems to be coming under a greater level of scruitiny not just once a month but in "realtime"

In theory a real-time feed could help those who cancel one card or repay a sgnificant balance by improving their credit score for fresh applications.

Given other developments in financial systems, it's inevitable there will be real-time credit data at some point in time.

What concerns me more is the reduced number of credit providers and lack of competition for offering large chunks of money at 0% to high-quality low-risk borrowers

Cash_Flow

CannyJock wrote: »

In theory a real-time feed could help those who cancel one card or repay a sgnificant balance by improving their credit score for fresh applications.

Given other developments in financial systems, it's inevitable there will be real-time credit data at some point in time.

What concerns me more is the reduced number of credit providers and lack of competition for offering large chunks of money at 0% to high-quality low-risk borrowers

Good point.

How ironic that at this stage though the emphasise seems to be heavily weighted towards benefiting lenders more than consumers i.e it is still taking far too long for lenders to update CRA files.

I'm not aware of there being a reduced number of credit providers??

I thought with the likes of Tesco, Sainsburys, Zopa etc etc that we are now seeing a greater number of lenders if anything.

With regards to 0% for low risk borrowers nothing in life is free my friend, as we all have to pay one way or another.

PROLIANT

This system does not benefit the consumer in anyway.
This now means that banks will be able to spy on us without a search being present.
Does Equifax provide this Delphi service or is it bespoke to Experian?