Beware Misleading Equifax Credit Watch Gold "Unlimited" service

hax_2

I tried to order my latest credit report with Equifax last night and today, to see if a search from Sygma Bank was on there. They advertise the Credit Watch Gold service as having "access to unlimited credit reports" which is a blatant lie, because you have to wait at least 24 hours from your last report to order a new one.

Just adds to the long list of lies from credit reference agencies (not to mention their misleading, useless and rip-off credit score).

I might have to complain to the Advertising Standards Agency about this. So much for the Data Protection Act. If I was to apply to a lender who searches Equifax, they'll see the Sygma Bank search straight away, but I can't see it, I have to wait a bit longer.

izools

hax wrote: »

I tried to order my latest credit report with Equifax last night and today, to see if a search from Sygma Bank was on there. They advertise the Credit Watch Gold service as having "access to unlimited credit reports" which is a blatant lie, because you have to wait at least 24 hours from your last report to order a new one.

Just adds to the long list of lies from credit reference agencies (not to mention their misleading, useless and rip-off credit score).

I might have to complain to the Advertising Standards Agency about this. So much for the Data Protection Act. If I was to apply to a lender who searches Equifax, they'll see the Sygma Bank search straight away, but I can't see it, I have to wait a bit longer.

It's not a blatant lie.

Neither Experian, Equifax, nor Call Credit are able to provide you with more than one report every 24 hours.

lisyloo

Jeez, why do you need more than one in 24 hours.
Have you consider than your consumption might be excessive and unhealthy?

hax_2

Because I searched my file before I applied (to check everything is OK) and searched my file after (to check they searched my file).

Might as well make use of the service as I'm paying £7.50 a month for it (instead of an online report for £2).

nemeth782

They only update their files overnight anyway... This is why creditexpert stops working for like 3 hours a day.

exel1966

hax wrote: »

I tried to order my latest credit report with Equifax last night and today, to see if a search from Sygma Bank was on there. They advertise the Credit Watch Gold service as having "access to unlimited credit reports" which is a blatant lie, because you have to wait at least 24 hours from your last report to order a new one.

Just adds to the long list of lies from credit reference agencies (not to mention their misleading, useless and rip-off credit score).

I might have to complain to the Advertising Standards Agency about this. So much for the Data Protection Act. If I was to apply to a lender who searches Equifax, they'll see the Sygma Bank search straight away, but I can't see it, I have to wait a bit longer.

There's no lie on their part whatsoever, the trouble is you don't understand how it works.

You get what they advertise, unlimited credit reports, nothing more nothing less. You could request 5 reports every day if you like, but they'all all say the same thing daily until updated overnight. Nowhere do they state that searches will be seen immediately and nowhere does it state that the reports are 'real time'.

You really ought to check the facts before posting blatant nonsense.

hax_2

Actually, you're wrong.

I can't order more than one report per day, it won't let me.

You really ought to check the facts before posting blatant nonsense.

sharpy2010

hax wrote: »

Actually, you're wrong.

I can't order more than one report per day, it won't let me.

You really ought to check the facts before posting blatant nonsense.

The point is, you can order one report a day, and you can view this as many times as you like. If you were to be allowed to order 100 reports a day, they would all show the same thing.

Thus, this means that you always have access to your latest credit report.

You really ought to check the facts before posting blatant nonsense.

hax_2

Some people posting on this thread obviously work for the CRAs - they know who they are

izools

Well I don't but the point still stands,Credit reference agencies update their files overnight. Once a day. Just like a bank account.As such, if Equifax were to allow you to order your report three times or however many times a day, they would all be identical.Experian's Credit Expert allows you to view your "live" file but you'll not see a search on there until the next day - again - because they update overnight and no more often than that.Just because people are pointing out the flaw in your argument doesn't mean they work for a CRA, it simply means your argument is flawed and that's that.

hax_2

izools wrote: »

It's not a blatant lie.

Neither Experian, Equifax, nor Call Credit are able to provide you with more than one report every 24 hours.

Not true. Experian (CreditExpert) allow me to order more than one report in 24 hours, although the information on both is the same.