Defaults (Info Request Please)

trundlecat

Hi All,

I'm a bit unsure where to put this question & apologise if it's in the wrong place.

I discovered a default on my otherwise excellent credit report last month. It should not have been there & the offenders (Yorkshire Bank) immediately agreed to remove it. They did this within 5 days but I'm now wanting to apply for a new credit card (being charged 27.9 APR on my current one) & unsure of how long to wait until trying. In the meantime I'm really miffed because YB's error & the credit ref agency's 1 month roll-over time are costing me money (1 month of 27.9 APR on a £1,900 balance)! I have asked the providers of my credit card to lower my rate but aparently they are "driving for new customers" at the mo & can't offer me a lower APR until after xmas but will give me a "great preferential rate" on a loan to pay the card off. Erm, no thanks!

Any advice appreciated,
Mandy

file_wizzard

Although the agency’s do generally “update once a month” most creators have a “live link” to their data and can easily update it instantaneously.

In theory you could sue the bank in question for you incurred losses, however this is exceptionally hard to do and you would need to be extremely accurate with your sums, and in identifying the true loss to yourself.

The only option I can suggest is to contact the data controller ( the bank) and ensure that they update all records immediately, if they refuse, or are unreasonably slow in doing so then you would be able to lodge a complaint with both the Information commissioners office, and the Financial Ombudsman’s service, the latter of the two may look to award a token payment in compensation .