Equifax report questions?

Bess09

I've just got my report from Equifax and have noticed in a post from another person that they have a credit score of 999 from Experian. On mine there's no sign of a credit rating like this, can anyone throw any light on this please?

Also there are inaccuracies, the report says I am not on the electoral registerm when I am, but under another of my names and there are 2 companies listed, one of which I don't remember (and can't find any contact details for,) and one which I do where I am listed as having credit with them. I have never done this with any company,if I buy something I pay for it at the time and don't take out credit agreements with shops. I have emailed Equifax with the queries, but just wondered if anyone can help me to understand what's going on please?

rdchick

Hi Bess

The credit score is an added extra which costs around £5/£6 with Equifax and means diddly squat as each creditor has their own secret rating system so don't worry about it.

The wrong details you can appeal and they will look into along with adding another name you're known by

xxx

Tixy

On equifax you can either pay to get your basic report (£2 for a one off, or sign up for a free trial and cancel in time) but you pay extra to get a 'score'. But the score is a waste of money, its what is on your report thats important, not some number generated by equifax.

Bess09 wrote: »

Also there are inaccuracies, the report says I am not on the electoral registerm when I am, but under another of my names and there are 2 companies listed, one of which I don't remember (and can't find any contact details for,) and one which I do where I am listed as having credit with them. I have never done this with any company,if I buy something I pay for it at the time and don't take out credit agreements with shops. I have emailed Equifax with the queries, but just wondered if anyone can help me to understand what's going on please?

How many names do you have? how does the name on the electoral roll differ from the name you requested your credit file in? Both these things should be in the same name, your correct legal name. Does your report show any aliases in the alias section?

Regarding the accounts you don't recognise you have done the correct thing in contacting equifax to query them. They could be an error, they could relate to another person with your name and have been accidentally added to your report, or they could be fraud. Or it might be that the name of the lender is a parent company of a lender and you applied to another trading name and haven't realised the loan is actually in that name.

edit - sorry cross posted with your rdc.

Bess09

Thanks rdchick and Tixy, I have 3 names, I'm listed on the ER under the 2 I don't use, but all are linked to this address. There wasn't anything listed under the aliases and I didn't get a box to fill in regarding that when I completed my application.

Thanks for the reassurance about the score as well. I'm really annoyed about the 2 companies that I'm listed as having a credit agreement with, I've never done this, it implies that I paid them monthly for about 6 months, but I know I have never done anything like that. It's all cleared and says 'settled' and was a few years ago, but it needles me because it's misleading, it probably doesn't matter really, but it does to me!

rdchick

Tixy wrote: »

edit - sorry cross posted with your rdc.

You, as ever, said it better Tixy xxx

soolin

Be careful about taking out the free trial, it is impossible to cancel.

We took a trial to check my OH rating, tried to cancel well within the 30 days and used the 'keep sending emails' suggestion from another thread without success, they cannot find my OH at all. Have sent a letetr that has gone unacknowledged and have phoned. The person on the phone says my OH does not exist and the reference number we gave them relates to someone else entirely.

So, the free trial is up tomorrow, OH still has an active account and cannot cancel, so I expect I will be fighting them when they take their money.

Bess09

Oh dear Soolin, I hope you get it sorted out soon. I just paid the £2.00 for the online one. Haven't heard anything from them yet though.

soolin

Bess09 wrote: »

Oh dear Soolin, I hope you get it sorted out soon. I just paid the £2.00 for the online one. Haven't heard anything from them yet though.

Despite email, a letter and a phone call (when OH was told that his account did not exist) Equifax have just confirmed to us that our subscription has been renewed.

So there is basically nothing you can do to cancel this subscription at all, absolutely nothing. When you do get them on the phone they assure you it must be cancelled as they can't find you with a live account.

I have emailed again stating that I now consider any payment taken by them to be fraudulent and if they do still payment I will be taking legal advice.

Can't even phone them again now until monday as their lines are not open.

Considering these are a 'proper' company I have to say that this is the first time I have ever not been able to deal with a company in a professional manner. I would urge everyone to treat this company as potentially dodgy, and to take every precaution to protect themselves.

Bess09

I'm still waiting to hear from Equifax about my questions regarding not being on the electoral register and so on. I rang them the other day and was told that they have received my e.mail (I didn't get any response to say they had) and will be gemailing back within 18 working days. That should be this week then.
Just a few questions for anyone who can help please?

1. How soon should changes made by Equifax take to appear on my credit rating (like adding that I am on the ER?)

2. How long would any changes that I make (eg asking lenders to reduce my credit limit) take to appear on there?

3. I am waiting for these changes to happen before I apply for different lower rate credit cards in the hope that I will be offered a better deal. Am I doing the right thing?

4. I've been offered £7.500 from Barclaycard for a 6% (ish) life of balance transfer. If I take out a NW card and move some of the BC to that first, are they likely to withdraw their offer of the BT?

5. Is there anyone who's job it is to help advise on these kinds of things? I'm, assuming it isn't within the sphere of an IFA. Does anyone know? I'd happily pay a fee to get good personal advice?

Many thanks.

Tixy

1 Adding you on to the electorall roll - as soon as equifax do this, then any potential lenders searching after that will see it.

2 Reducing credit limits - depends on the lag and the day of the month that creditor reports, but typically 6weeks would be a good bet. Best way to know for sure is to check your file and wait to see when it is reflected.

3 electoral roll - definitely wait for this, other changes its hard to judge, depends on all sorts.

4 Could withdraw the offer - also I've seen some people have their credit limits slashed really low after they transfer a balance away - and before they can transfer one back. Might be fine of course, but that would be the risk.

5 No. Nobody can give definitive advice as all potential lenders view your credit file in a different way and put an emphasis on different things. Eg some lenders would be more worried about you having lots of unused credit, others would be more concerned if it looked like all your credit is maxed out.

Bess09

Thanks Tixi,

With regard to no 4, If I moved £7,500 to BC's life of balance offer and then found another card to move the old BC debt (high rate) to, would that work? Would BC have separated my old CC debt and my new L of B one? So would a move like this be possible? So many questions.....and so many 'if's'....


When I rang BC about this I was speaking to someone on a very bad line who's English was very poor. Could I arrange this by going into my Barclays branch instead?