Halifax Easycash Credit Search

TheEffects

Hi

I have been told that virtually anyone can get on of these cards to avoid paying debit card transaction fees especially on flight bookings.

I just wanted to know are you credit searched for opening this account? Which would result in lowering credit score due to the search that will be visable to any future lender. Reason I ask is that i don't wish to lower my credit score as I am looking to get a loan so don't need any credit searches on my file

Also is this reported monthly to the credit reference agency on the conduct of the account every month.


Thanks

jalexa

TheEffects wrote: »

Hi


I just wanted to know are you credit searched for opening this account?

Also is this reported monthly to the credit reference agency on the conduct of the account every month.

Not "credit searched" but the file will be "ID searched" and if it is a decent residency history you will not need paper ID. (Note : an "ID search" is an "unrecorded search" which does not affect credit rating).

The actual account will be recorded in credit files as a "current account". Going overdrawn is not "impossible" but is *very* difficult. I do not know exactly how "conduct" is reported but if you manage to get a basic account overdrawn you probably deserve whatever is recorded.

7sefton

jalexa wrote: »

Not "credit searched" but the file will be "ID searched" and if it is a decent residency history you will not need paper ID. (Note : an "ID search" is an "unrecorded search" which does not affect credit rating).

The actual account will be recorded in credit files as a "current account". Going overdrawn is not "impossible" but is *very* difficult. I do not know exactly how "conduct" is reported but if you manage to get a basic account overdrawn you probably deserve whatever is recorded.

Not sure if this is correct: my Cardcash account (opened when this was sold as the basic bank account at Halifax) doesn't appear on my credit file at all.

noh

Easycash accounts are not recorded on credit files.

savagej

They are not recorded at the moment, however, the bank is changing the computer system over to the LloydsTSB system, apparently in Septemeber, and these accounts I imagine might mirror their Cash Account and start reporting. I think they make money from data sharing and "protecting" the credit granting community. The permission to report is certainly there in the DPA statement.

Did this not happen at one point with the Natwest Step account or was it current accounts in general, that they started reporting positive data with no change advised to the customers and the first they knew about it was a warning from Equifax/Experian.

pmduk

7sefton wrote: »

Not sure if this is correct: my Cardcash account (opened when this was sold as the basic bank account at Halifax) doesn't appear on my credit file at all.

I suspect thiis is because it was opened before the requirement to get your permission to list such accounts. There is an anomaly that any account opened before a certain date can never be reported to credit agencies, meaning longer standing customers don't get the benefit of a long-standing banking relationship appearing on their credit record.

jalexa

noh wrote: »

Easycash accounts are not recorded on credit files.

OK, some humble pie:o and then some more information. My (active) RBS Key account is *definately* listed as a current account in my Experian credit report and is actively reported (with nothing).

As a matter of fact I concede there is no record of my HBOS Easycash in recent reports. I had *thought* that previously there was but equally I could be wrong and my answer *may* have been influenced by the appearance of the RBS Basic Bank Account.

savagej

"Easycash accounts are not recorded on credit files."

They never have been.