Sorry different Credit Report question

DarnIt_3

I just read that my Experian Credit Report will be different to my Equifax? Is that right? Will both have the same credit accounts? Or is there a possibility that there could be something different on the other something negative....or is it just the searches conducted that could be different?

As per my other thread, I am finding it hard getting credit. Could there be something I don't know of lurking on the Equifax that Experian doesn't show. I imagine all defaults would appear on both reports? Or is that not right?
Sorry to be a pain, to my absolute knowledge I have no defaults as my Experian account confirms, but wondering now whether to get an equifax one too but its extra money that I would rather not pay.

And do credit reports show bank accounts? Even if there is no overdraft?

I am so confused

lisyloo

Your statutory report is £2, why not get it?

You caould probably get a free trial for 30 days, but be aware you must cancel this and you may have to hang on the phone and they might not make it easy.
Alternatively pay £2.

Are you spending more than you need?
I just spend the £2 every tme I get a report.

YorkshireBoy

DarnIt wrote: »

And do credit reports show bank accounts? Even if there is no overdraft?

Yes they do, but...

You've paid £14.99 to Experian. Why are you asking here?...just look at the report you paid for!

DarnIt_3

YorkshireBoy wrote: »

Yes they do, but...

You've paid £14.99 to Experian. Why are you asking here?...just look at the report you paid for!

Because it doesn't show on Experian, which is making me wonder if it will be on Equifax?
Which is my query, will there be different accounts on different reports, I thought that a credit report was all your credit all in one place, for it to be different from provider to provider (ie equifax to experian) wouldn't seem fair to me, hence my reason for asking.

Tixy

No - each lender can choose to search any or all of the 3 credit reference agencies when you apply for credit. And each lender can choose to report to any, all or none of the 3 agencies for your account history etc.

To get a full picture of your finances you really need to get all 3 reports, experian is the most used of the 3 CRAs by lenders/potential lenders, followed closely by equifax and the least used is callcredit.

Bank accounts - if they are a basic bank account with no option for an overdraft they usually won't report - as there is no credit history/behaviour to be reported.

YorkshireBoy

In my experience, all accounts are shown on both reports (never ordered a CallCredit report so can't comment on that). However, you may find that one of the reports shows more searches than the other (lenders pay to search your file so may choose to limit their costs in this area).

coolesticeking

Tixy wrote: »

Bank accounts - if they are a basic bank account with no option for an overdraft they usually won't report - as there is no credit history/behaviour to be reported.

The only Basic Bank Account that does not report to CRA's is Halifax/Bank of Scotland Easycash.

The rest do report to CRA's as a 'Bank Account' and does not state it's basic.

Tixy

coolesticeking wrote: »

The only Basic Bank Account that does not report to CRA's is Halifax/Bank of Scotland Easycash.

The rest do report to CRA's as a 'Bank Account' and does not state it's basic.

Really? thats ridiculous (IMO!). Does it just show that an account exists then? do they update the credit file monthly? I mean presumably they cannot give the month end bank balance or any account history or anything?

coolesticeking

Tixy wrote: »

Really? thats ridiculous (IMO!). Does it just show that an account exists then? do they update the credit file monthly? I mean presumably they cannot give the month end bank balance or any account history or anything?

It shows the same as a full current account, and like most bank accounts it will say Balance: £0 with green ticks unless you are using an Overdraft when they include it.. They only ever seem to change this if you break the T&C's or Default for some reason.

DarnIt_3

Oh! Is there any reason my bank account does not show on my report? Is it because its a new single bank account (had it for three weeks part of my...improve my credit rating kick)
I tried to get a report from Equifax but it didn't work for some reason and I do not want to put my DC details in again.

I am assuming if there was something bad lurking on my equifax CR then Experian would have picked it up too??

coolesticeking

DarnIt wrote: »

Oh! Is there any reason my bank account does not show on my report? Is it because its a new single bank account (had it for three weeks part of my...improve my credit rating kick)
I tried to get a report from Equifax but it didn't work for some reason and I do not want to put my DC details in again.

I am assuming if there was something bad lurking on my equifax CR then Experian would have picked it up too??

It can take anywhere between 1 to 3 months for new accounts to start appearing on your credit file, and it all depends if the company uses that CRA.. Some only use Equifax, some may use both Equifax/Experian or some may use all three.