Credit report - searches OPT OUT?

Ash1982

Hi,

Got my Experian credit report and there is the following on the searches:

MR ******* ******, (MY ADDRESS)
OPT OUT
DOB **/**/**
Searched by RBS PLC IRO DIRECT LINE
Application Type INSURANCE QUOTATION

Does anybody know if this search is viewable by any company who searches my record? I'm guessing it's relating to my home insurance, does anybody know exactly who it is? I'm guessing Direct Line!

Ash1982

anyone got any ideas?!

mcjordi

they are just ID checks iirc. other companies cant see them..

lisyloo

Did you do a quote or use a comparison site?

It's only an id check (see the application type).
It's not a check for applying for credit so it won't count against you.

Ash1982

lisyloo wrote: »

Did you do a quote or use a comparison site?

It's only an id check (see the application type).
It's not a check for applying for credit so it won't count against you.

probably did but I thought direct line weren't on comparison websites?!

YorkshireBoy

"Opt out" means a financial associate search was not made...another confirmation that it wasn't a formal credit search, because these days very few lenders will consider applicants who don't consent to this, ie "opt in".

Ash1982

YorkshireBoy wrote: »

"Opt out" means a financial associate search was not made...another confirmation that it wasn't a formal credit search, because these days very few lenders will consider applicants who don't consent to this, ie "opt in".

Thanks, YorksireBoy. This is taken from the equifax site:

Searches and Financial Links
Although you may be associated with a person you may ask to be considered as an individual. If you choose to do this, and the lender facilitates your request, you will be asked to confirm that you do not know about any problems with the other person's credit record that would affect the lender's decision to grant you credit. The lender will receive an alert if there are problems with the other person's information and does have the right to decline you for credit. This ensures that as financial unit you do not over commit yourselves.
Searches will show on your credit report as:
Opt In: your associate's information will be considered
Opt out: your associate's information will not be considered but an alert issued for any derogatory information found on their report
Joint: you and another person both applied for credit together and both of your credit reports will be reviewed
Transient Associate: your information and associates information will be used as long as the account linking you is open.


Does this mean I have a financial associate (i.e. a person) as I dont have any joint accounts or does this mean that the insurance company is deemed as a financial associate itself?!

Ash1982

Ash1982 wrote: »

Thanks, YorksireBoy. This is taken from the equifax site:

Searches and Financial Links
Although you may be associated with a person you may ask to be considered as an individual. If you choose to do this, and the lender facilitates your request, you will be asked to confirm that you do not know about any problems with the other person's credit record that would affect the lender's decision to grant you credit. The lender will receive an alert if there are problems with the other person's information and does have the right to decline you for credit. This ensures that as financial unit you do not over commit yourselves.
Searches will show on your credit report as:
Opt In: your associate's information will be considered
Opt out: your associate's information will not be considered but an alert issued for any derogatory information found on their report
Joint: you and another person both applied for credit together and both of your credit reports will be reviewed
Transient Associate: your information and associates information will be used as long as the account linking you is open.


Does this mean I have a financial associate (i.e. a person) as I dont have any joint accounts or does this mean that the insurance company is deemed as a financial associate itself?!

and a seperate part of the website gives this definition:

Opt Out
You elected to have only your credit report used in evaluating your credit application

which would make more sense to me!

lisyloo

Does this mean I have a financial associate (i.e. a person) as I dont have any joint accounts or does this mean that the insurance company is deemed as a financial associate itself?!

No it doesn't necessarily mean you have a financial associate (you should be able to see whether you do or don't from your report).
An associate is a person with whom you share a joint account and not a company.

I'd stop worrying about it.
This is just an identity check and is doing you no harm.

Yes, I don't believe Direct Line are on comparison sites.
But anyone that knows your name/address could potentially have entered your details.
Do you have a partner that might have done it without your knowledge?
I've just sorted out insurance for both me & my husband so in some relationships there is one person that does the finance stuff.

Ash1982

lisyloo wrote: »

No it doesn't necessarily mean you have a financial associate (you should be able to see whether you do or don't from your report).
An associate is a person with whom you share a joint account and not a company.

I'd stop worrying about it.
This is just an identity check and is doing you no harm.

Yes, I don't believe Direct Line are on comparison sites.
But anyone that knows your name/address could potentially have entered your details.
Do you have a partner that might have done it without your knowledge?
I've just sorted out insurance for both me & my husband so in some relationships there is one person that does the finance stuff.

just checked report, no financial associates are on it so I'll just take your advice and forget about it.

thank you all!