Credit Card Refusal

able211

Can anyone tell me why Experian are allowed to charge £2 in order to see your personal credit report? At the moment, I am interchanginging e mails with them, as I was refused a credit card with Lloyds TSB (God knows why, Ive never been in debt in my life!)
Experian insist on charginging £2 in order to tell me if they have, or indeed, have not, any information regarding my creditworthyness, which I am refusing to pay. I have been issued with a credit card from another company without any problems, but I still want to know what information Experian have about me.

amlac

Experian will charge for giving you information about your credit status. Be aware that not having previous credit can actually count against you, as you have no credit history. Having previous credit and paying on time etc. will count towards a better score than having none in the past, also different lenders will have different lending criteria so where one turns you down the other will accept. The two main credit reference agencies are Experian and Equifax both work in similar ways by assessing your previous credit history plus associations (partner, wife, husband) may affect your rating.

McKneff

Why should they do it for nothing, £2 seems pretty reasonable, if not cheap to me, there are admin staff to pay for as well as 1001 other things in a business.

GooliesOfFire

After all they need to print it and send to you by post... £2 is not unreasonable.

dazza.mk

able211 wrote: »

Can anyone tell me why Experian are allowed to charge £2 in order to see your personal credit report? At the moment, I am interchanginging e mails with them, as I was refused a credit card with Lloyds TSB (God knows why, Ive never been in debt in my life!)
Experian insist on charginging £2 in order to tell me if they have, or indeed, have not, any information regarding my creditworthyness, which I am refusing to pay. I have been issued with a credit card from another company without any problems, but I still want to know what information Experian have about me.

Tell you what you could always try and do an information request under the Data Protection Act as opposed to a simple request for your Credit Report.... you'll avoid the £2 charge then
.
.
.
You'll pay £10 instead

Paul_Herring

able211 wrote: »

I was refused a credit card with Lloyds TSB (God knows why, Ive never been in debt in my life!)

This may go some way to indicating why you were refused, if accurate.

david39

The reason you were refused may have nothing to do with what is, or is not, on your Experian file.

I understood that credit reports are only a small part of the final outcome of the card issuer's decision, which is much more influenced by their own internal scoring methods.

Other influences could be from not being on the electoral register, length of time at last few addresses, employment situation, level of income.

What is acceptable to one company may not be so to another

Have you tried asking LloydsTSB why you were refused?

antrobus

able211 wrote: »

Can anyone tell me why Experian are allowed to charge £2 in order to see your personal credit report?

Because that's what it says in s158 of the Consumer Credit Act 1974 as amended;

A credit reference agency, within the prescribed period after receiving,—

(a) a request in writing to that effect from a consumer,
(b) such particulars as the agency may reasonably require to enable them to identify the file, and
(c) a fee of £2

shall give the consumer a copy of the file relating to it kept by the agency.

If you comply with the requirements of s158 then a credit reference agency will be commiting an offence by not sending you a copy of their file. But if you don't comply with the requirements (such as not including the £2 fee) they can ignore you with impunity.

chanz4

why not just sign up for a free trial......

immoral_angeluk

chanz4 wrote: »

why not just sign up for a free trial......

Was just going to say the same.

Rupert_Bear

able211 wrote: »

Can anyone tell me why Experian are allowed to charge £2 in order to see your personal credit report? At the moment, I am interchanginging e mails with them, as I was refused a credit card with Lloyds TSB (God knows why, Ive never been in debt in my life!)
Experian insist on charginging £2 in order to tell me if they have, or indeed, have not, any information regarding my creditworthyness, which I am refusing to pay. I have been issued with a credit card from another company without any problems, but I still want to know what information Experian have about me.

Perhaps with your attitude Lloyds did the right thing by declining you.