Credit Reference Agencies - Who Really Uses Who? II

Fred_Funk

UNDERGROUND wrote: »

Experian.

UNDERGROUND

Are you sure about this?!

In post no.168 - and, again, in post no.176 on this thread - andyhawkins says Nationwide use Equifax.

Would really appreciate some clarification. Thanks.

System

Fred_Funk wrote: »

Are you sure about this?!

In post no.168 - and, again, in post no.176 on this thread - andyhawkins says Nationwide use Equifax.

Would really appreciate some clarification. Thanks.

Hi Fred_Funk

Welcome to MSE

andyhawkins eludes to the fact that he believes Nationwide use Equifax. Looking at his posts it seems he is saying that no search was actually shown on his report but he thinks that they had a look at his Equifax report without them registering a search. Lenders are obliged to leave a search footprint every time they conduct an initial search for credit or for identification. There is no reason for them to keep the search secret, so why would they?

I don't believe the information supplied here is likely to be correct so I have not added it.

If you discover otherwise please do come back and let us know.

Regards
UNDERGROUND

Fred_Funk

Thanks for your speedy response.

Fairly certain I won't get any credit from any organisation which uses Equifax so don't want to go anywhere near anyone who uses them.

andyhawkins seemed fairly adamant - he used the word 'deffo' - that Nationwide did but if you're unconvinced then that'll do for me.

In a similar vein, are you still of the opinion that Clydesdale, Yorkshire Bank and Halifax search only via Experian?!

Thanks in anticipation
Fred_Funk

Fred_Funk

Just made a loan application to Nationwide and got turned down! What's more, my Experian credit score has gone from 768 to 705 in the process.

I appreciate that Nationwide and all the other lenders do their own credit scoring, and the Experian figure is no more than an indicator, but this is till more than a bit annoying, especially as I'm now being told that I have made three or more applications for credit in the past six months and that this is having a negative effect on my score.

Don't really understand which of the nine searches showing on my account are visible to others and would appreciate some clarification. As far as I'm concerned, the only application for credit is Entry Number P2.

Entry Number: P1
Searched By: NATIONWIDE BUILDING SOCIETY (PLOAN)
Application Type: Personal Loan Quotation

Entry Number: P2
Searched By: NATIONWIDE BUILDING SOCIETY (PLOAN)
Application Type: Personal Loan

Entry Number: P3
Searched By: COOPERATIVE BANK PLC
Application Type: Current Account

Entry Number: P4
Searched By: COOPERATIVE BANK PLC
Application Type: Current Account

Entry Number: P5
Searched By: EXPERIAN CONSUMER SERVICES
Application Type: Identification: Generic Check

Entry Number: P6
Searched By: COOPERATIVE BANK PLC
Application Type: Identification: Generic Check

Entry Number: P7
Searched By: COOPERATIVE BANK PLC
Application Type: Identification: Generic Check

Entry Number: P8
Searched By: EXPERIAN CONSUMER SERVICES
Application Type: Credit Report

Entry Number: P9
Application Type: Credit Report
Note: This information was provided to us when you searched for financial products using Lower My Bills from Experian

The four searches by the Co-op are really annoying as I only went into the branch to pick up some literature before I was talked into applying for a current account - which I was told would be straight-forward - only for they guy's PC to lock up [hence, I think, the multiple searches] and for me to be turned down anyway. :mad:

BugsyBrowne

Fred_Funk wrote: »

Just made a loan application to Nationwide and got turned down! What's more, my Experian credit score has gone from 768 to 705 in the process.

I appreciate that Nationwide and all the other lenders do their own credit scoring, and the Experian figure is no more than an indicator, but this is till more than a bit annoying, especially as I'm now being told that I have made three or more applications for credit in the past six months and that this is having a negative effect on my score.

Don't really understand which of the nine searches showing on my account are visible to others and would appreciate some clarification. As far as I'm concerned, the only application for credit is Entry Number P2.

Entry Number: P1
Searched By: NATIONWIDE BUILDING SOCIETY (PLOAN)
Application Type: Personal Loan Quotation

Entry Number: P2
Searched By: NATIONWIDE BUILDING SOCIETY (PLOAN)
Application Type: Personal Loan

Entry Number: P3
Searched By: COOPERATIVE BANK PLC
Application Type: Current Account

Entry Number: P4
Searched By: COOPERATIVE BANK PLC
Application Type: Current Account

Entry Number: P5
Searched By: EXPERIAN CONSUMER SERVICES
Application Type: Identification: Generic Check

Entry Number: P6
Searched By: COOPERATIVE BANK PLC
Application Type: Identification: Generic Check

Entry Number: P7
Searched By: COOPERATIVE BANK PLC
Application Type: Identification: Generic Check

Entry Number: P8
Searched By: EXPERIAN CONSUMER SERVICES
Application Type: Credit Report

Entry Number: P9
Application Type: Credit Report
Note: This information was provided to us when you searched for financial products using Lower My Bills from Experian

The four searches by the Co-op are really annoying as I only went into the branch to pick up some literature before I was talked into applying for a current account - which I was told would be straight-forward - only for they guy's PC to lock up [hence, I think, the multiple searches] and for me to be turned down anyway. :mad:

I am still shocked your reliable credit score from Experian has gone down!!

Fred_Funk

Debt-Regret wrote: »

the above will not affect you whatsoever as these are only seen by you. NOT the lenders :beer:

Thanks for that. I guess it would then be in my interests to see if I can get Co-op to remove one of their searches, whereby I'll only have made two applications for credit?

Would I be right to assume it's the third application for credit which has set the warning bells ringing and reduced my credit score?!

Thanks in anticipation
Fred_Funk

Fred_Funk

star-fire wrote: »

I am still shocked your reliable credit score from Experian has gone down!!

Sorry but are you being ironic? Or serious? It's not always easy to tell in this medium.

BugsyBrowne

Fred_Funk wrote: »

Sorry but are you being ironic? Or serious? It's not always easy to tell in this medium.

I am basically telling you mate that Experian have gave you a credit score that does not mean a thing,its just a expensive number that Experian have charged you £6 for them to generate a meaningless number!

Fred_Funk

star-fire wrote: »

I am basically telling you mate that Experian have gave you a credit score that does not mean a thing,its just a expensive number that Experian have charged you £6 for them to generate a meaningless number!

Rest assured, I ain't paid any money for it. Rather, I've taken advantage of a free trial which I have no intention of continuing.

Appreciate what you say about it being 'a meaningless number' but it's all some of us have to go on when assessing the likelihood of securing any credit.

BugsyBrowne

Fred_Funk wrote: »

Rest assured, I ain't paid any money for it. Rather, I've taken advantage of a free trial which I have no intention of continuing.

Appreciate what you say about it being 'a meaningless number' but it's all some of us have to go on when assessing the likelihood of securing any credit.

Well if you go by that score when assessing your credit file you either must be pis*ed or mentally unstable.
Lenders take a lot more different information when granting you credit,lenders do their own score they don't give a sh*t what the experian score is.
Majority of people on here has a score of 999 but can't get credit,reason is experian are charging you for a score and they don't even lend money!