Experian CreditExpert Credit Score Scam for Santander Loans

magnifico

Hi MoneySaving guru's,

I've never posted here before because I've always been able to just do what I wanted to without any issues and always thought the world was fair to honest and fair folk, but what follows is an account of how Experian / CreditExpert would seem to be in league with the banks to make money from regular folk that have no other options. I realize that the world is making monkeys of regular honest folk, or at least Experian are.

Over the last few years I was spammed to death by creditexpert.co.uk emails - at least one a month if not 2. Finally they wore me down and around a year ago I registered if only to stop the spamming emails.

Only thing is, it didn't stop the emails an I still get at least 1 or 2 a month asking me if I'd like to get my credit report and credit score - which I am already paying for.

So anyway, the thing is I have used their service and improved my credit score over the last year, all good. So I get to the point where I need a loan and check my latest credit score - all good. So I follow the advisor section of the site and enter the loan amount and term I want to borrow over and the top recommendation for the loan, which I am apparently most likely to get, and which offers the best deal, is Santander.

So, on 18th November I click through to the Santander site and fill out all my details and immediately get the "you will get email confirmation in 24 hours" and "we will contact you in 48 hours confirmation email".

I never received any further email.

There's no reference on the email or phone number so I waits and finally today, 6 DAYS LATER I get a letter saying my loan application was DENIED and I should contact Experian (or the other agencies) if I want to find out why it was rejected... but creditexpert RECOMMENDED Santander as the loan provider that would be most likely to give me a loan.

I conclude that Santander DO NOT use Experian even though Experian say they do OR Experian is recommending everyone to Santander as part of a business deal which is in Experian's best interest's rather than Experian's customers - while selling to customers that their credit score information and recommendations are in the customers best interests.

Yet another example of corrupt big business getting rich off regular folk.

So, if you can't trust the Credit Expert Credit Score and the Experian recommendations, is it worth paying for useless or misleading information. I think not and will be cancelling tomorrow.

Also their customer service is !!!!!. I once emailed them about an error on my credit report, via their own contact form, and they never even replied. That's how much they value their paying customers.

The lesson here is... When you get their spamming emails, or if you are tempted to find out your credit score, remember it bears no relevance to anything whatsoever and the only thing you will learn is a meaningless number. Save your money instead of giving it to Experian, that's the real way to improve your credit score.

Enfieldian

magnifico wrote: »

if you are tempted to find out your credit score, remember it bears no relevance to anything whatsoever and the only thing you will learn is a meaningless number. Save your money instead of giving it to Experian, that's the real way to improve your credit score.

Edited your post down to the relevant part.

worried_jim

Perfect answers. There are no shortage of suckers.

david39

But your Experian report is not the only criteria that Santander will take into account when they assess your loan application.
Many other factors are as important, or even more important than that - existing loans, employment details, postcode, other credit limits available on cards, financial associations with partners or relatives, etc.
It may well be that Santander would be the recommended company to apply to (either because they genuinely did offer the most likelihood of offering the loan or because of financial arrangements between your advising companies) but, in the end, it is Santander who decide whether they want to lend you anything, not Experian.

You don't need to be paying companies to advise you how to improve your credit score, you are quite able to do that yourself for free by reading these forums and acting on the advice within them.

magnifico

True, true, and now I know...

Older and wiser, now.

chanz4

wheres the experian rep when you need them, to defend experian

[Deleted User]

1-2 emails isnt spam,its love....20-30 emails a day is real spam

rdwarr

magnifico wrote: »

Over the last few years I was spammed to death by creditexpert.co.uk emails - at least one a month if not 2. Finally they wore me down and around a year ago I registered if only to stop the spamming emails.

It would have been easier to click the "unsubscribe" link. They do not send out unsolicited emails to private addresses as this is illegal in the EU; you must have opted in to a list at some point.

KingElvis

Experian are like a dose of clap, when they get wind of you and the fact they might make some money from you they'll be on you like a rash.

Their Credit Expert tool is a know menace and will give your details to the very lowest of the low gutter snipes of the sub prime world.

Experian_company_representative

That's right, all of our email marketing has very visible unsubscribe links, so you can easily opt out.

As others have pointed out, the Lower My Bills service matches your Experian credit report to lenders and deals based on the strength of credit history compared to what they look for in new customers. But lenders do assess other data too, so you can be legimately matched to a lender and deal based on your credit data but fall short in other areas. I'm afraid there are never any guarantees, but what we do is help you navigate one of the hurdles, which many people find useful.

magnifico - I'm sorry you were refused credit. If you go back to Santander they should be able to tell you the main reason why. Clearly it wasn't because of your credit report. I know these things can be frustrating. The previous search section of your credit report will confirm whether Santander ran the credit check through Experian. I am concerned to hear that you didn't receive a reply from us to a query you submitted about your report. We will happily look at this for you if you get in touch via the email address on my MSE biog.

Thanks
James