Credit Reference Agencies - Who Really Uses Who? II

izools

Ahh I understand now. Whilst they may assign a behaviour score reflecting my behaviour over the last six months, they won't set limits as they haven't seen enough history because I've not been with them long enough. That makes perfect sense.

I believe you You seem to know more than the helpline staff and your experiences show that. Might be worth checking Experian to see if they've left an Enquiry today though I doubt it :beer:

The_Matelot

Just thought id say on here that tesco finance searched experian when i applied for a 4k loan and put in the details and payment terms on the search. Cheers

DizzleUK

Can I point out that Wonga report to Experian when you take out a loan with them.

I borrowed £50 from them at the beginning of December and paid it back on schedule, and have not reborrowed.

I have an entry on my credit report stating the repayable amount. It doesn't show as either settled or outstanding, that bit is just blank. Where the status numbers show (eg green zeros etc) there is a solitary "U".

There is no search recorded by Wonga on my file. Just the report.

collywollys

can anyone confirm who egg use for credit card app ??

cheers

paulmcerlean

collywollys wrote: »

can anyone confirm who egg use for credit card app ??

cheers

Egg will use Experian.

notgreatatsavingmoney

I was recently declined a small amount of credit due to an error on a report taken from Equifax. Since this I have taken my report from all 3 agencies and whilst neither are 100% I couldn't believe how little Call Credit knew about me compared to Experian, Equifax also had a lot of information but I spotted 2 errors on their report!! Experian's was the most accurate, with no errors but they were missing an address I lived at for a short period, they also had information about a hell of a lot more searches against my name, some even I didn't know about???Anyone know why?

Surely these agencies should speak to each other to ensure data quality???

Can anyone advise if I am allowed to ask a lender who they use prior to a credit check?

DizzleUK

notgreatatsavingmoney wrote: »

I was recently declined a small amount of credit due to an error on a report taken from Equifax. Since this I have taken my report from all 3 agencies and whilst neither are 100% I couldn't believe how little Call Credit knew about me compared to Experian, Equifax also had a lot of information but I spotted 2 errors on their report!! Experian's was the most accurate, with no errors but they were missing an address I lived at for a short period, they also had information about a hell of a lot more searches against my name, some even I didn't know about???Anyone know why?

Surely these agencies should speak to each other to ensure data quality???

Can anyone advise if I am allowed to ask a lender who they use prior to a credit check?

It's not down to the CRAs to collate information from credit providers, nor is there any reason why they should "work together" and share information.

Each lender chooses who they wish to search and report to. As Equifax and Experian are the biggest, they are the ones that get used the most and are therefore the most accurate.

There is usually information on the lenders websites that mentions who they search, and most will tell you who they use if you phone them up.

niceday999

I signed for the free trial with Equifax as I had applied for a contract phone on o2 (online) and it would not go through.....My son then took it out with o2 in his name and they accepted him.i have no debt and the search on equifax says


name date search reason company search type

jo bloggs 13/1/11 credit search o2 opt out

what does "opt out" mean ?
also is there any way you can get your credit score for free ?

tigerlily44

niceday999 wrote: »

I signed for the free trial with Equifax as I had applied for a contract phone on o2 (online) and it would not go through.....My son then took it out with o2 in his name and they accepted him.i have no debt and the search on equifax says


name date search reason company search type

jo bloggs 13/1/11 credit search o2 opt out

what does "opt out" mean ?
also is there any way you can get your credit score for free ?

Both Equifax and Experian do a free 30 day trial

tiger

izools

Opt out means they won't have taken into account the details of information belonging to a financial associate like, a husband, when assessing your eligibility for their mobile contract.

O2 are rather strict though so you may find having never been debt and / or having no active credit accounts is what actually caused O2 to decline you.

The reason they do a credit check is to see how you perform with credit accounts elsewhere. If there's little or no data on your credit file pertaining to how you've handled credit elsewhere - you're an unknown to them - so a high risk - so they mightn't be interested in taking the "risk" of opening a contract phone account for you.

I found it harder as an 18 year old to get a mobile phone contract - due to no credit history - than I do now, as a discharged bankrupt.

Because despite having been bankrupt several years ago, I have three years of recent history demonstrating exemplary conduct on a variety of credit accounts - something I didn't have at age 18.