Credit-Rating Enquiry

Freddie_85

I'm not entirely sure if this the correct forum, but it does concern credit cards at least.

Recently I tried to open a student current-account. I was declined, and figured it must be due to my credit-rating.

So, for the first time I checked my credit-rating via Experian and it showed that while in recent years I have been consistently paying off all balances on time, with no missed payments, in 2004 I had a few credit cards that I had trouble paying off in time, these cards were subsequently "Defaulted".

On the Experian website it says that any bad history will be automatically removed from my report after six years.

My question is... whether the six years is from the date in which the card became "Defaulted" or the date in which the balance was considered "Satisfied"?

Thank you for the help.

The_Cappuccino_Kid

Six years from the default date.

Freddie_85

This should mean my credit rating should improve in a matter of days then, thank for the clarification.

lisyloo

My personal experience is that they aren't updated immediately.
Most lenders update credit accounts monthly, so it should come off in the month after but it probably won't happen instatneously on the exact date.
The system just doesn't work in real time.