Grrrrr All I Want Is My Credit Report!

MissScarlett_3

MissScarlett wrote:

Registered a while back but my area has only just gone live. I should have the security code within 3 days and then I should be able to view the report online, will let you know by updating this thread once I have successfully viewed it!

As promised, here's an update.

I received my security code this morning just one day after requesting it. Input the same and was taken straight to the report. It is very easy to understand, much more so than the paper credit reports I've received in the past. It is in the format of Red, Amber and Green. Green means there’s good information held, red means there’s bad information. Orange means the information is neither good nor bad but may need your attention. I had one red bar which immediately panicked me but this is what that particular page said


"There are no credit application or search footprints on your credit report.

This may be for a good reason, and is not always bad news:
some applications leave only ‘enquiry’ footprints
some lenders don’t search you if your score is high enough (or so low that you wouldn’t pass the ‘cut off’ score on their scorecard)
search footprints are left only at the credit reference agency searched so your financial activity will be spread around three credit reference agencies
compared to other information on your credit report, searches are only displayed for a relatively short period

Too many searches in a short period of time can indicate desperation for credit, or even can ring fraud warning bells. Too few searches demonstrate a person who is relatively credit inactive. That’s not a crime. At both ends of the scale, the level of searches can have an impact on your file although lenders can interpret their importance differently.

Contrary to old wives’ tales, adding searches to your credit report won’t blacklist you for credit. Even comparatively high numbers of searches only has a limited impact on your credit rating"

I have an excellent credit record but I am a 'TART':rotfl:

I recently applied for the NEXT catalogue and my application was declined and I am bewildered as to why this was Could it now be because there are no credit application or search footprints on my credit report?? I am surprised that there aren't any searches recorded as I do change credit cards every time the 0% balance expires.

Although a free service it does advise that you can view an updated report every month for a fee of £2.97 but there is no pressure to do so. For a fee of £3.77 you can also obtain your credit scoring which is a rate out of 1000, again it advises that most people don't need to buy an additional credit score to see how good their file is. There is also a page where it advises which lenders are likely to lend, this could be more of an advertisement for the particular lenders?

I would recommend registering and using the site as a 'once a year' check on your credit.

Additional information below regarding credit searches, may be of interest to some.



Credit Applications and Searches
A search is generated when someone accesses your credit report - normally lenders when you make an application for credit. They are an indication to lenders of how 'credit active' you are, but more importantly, they are there as an audit trail so you can easily check who has been looking at your credit report.

How do searches affect my credit report?
Too many searches in a short period of time can indicate desperation for credit, but too few searches demonstrate a person who is relatively credit inactive. At both ends of the scale, the level of searches can have an impact on your report although lenders can interpret their importance differently. On average, we see about 10 searches per year on the average credit report.

Twopints

Thanks for the update. Is this from the "third" CRA i.e. there's Experian, Equifax and another one - is this it?

Re: Next - maybe they use one of the other CRA's - have you had your reports from them too?

:beer:

MissScarlett_3

Not too sure TBH?

I did close all opened credit cards that I no longer used as I thought that may have affected the rating. Will try again in a few months, i only wanted a catalogue so that I could order online during the sales instead of getting up at 4am!

whatatwit

I applied to this and got my code through this morning.
It was better reading than I had thought.
Thanks MissScarlett.

skintasusual

Twopints wrote:

Thanks for the update. Is this from the "third" CRA i.e. there's Experian, Equifax and another one - is this it?

Re: Next - maybe they use one of the other CRA's - have you had your reports from them too?

:beer:

The other one is callcredit