Searches on Credit Report.

YorkshireBoy

NatalieC87 wrote: »

I have paid for years its not a problem as its only £7 per month I have never missed it .

I pay less than that for my home contents insurance!...but each to their own.

I will sign up to Experian

Another subscription?...or a £2 statutory report?

NatalieC87

YorkshireBoy wrote: »

When I was stoozing heavily I ordered perhaps 2 or 3 statutory reports a year from both Experian and Equifax, paying £2 each so up to £12 a year.

You may not know this but a statutory report from those companies is valid for queries on existing accounts for 90 days, meaning no more than 4 per year are required from each of the main two CRAs...max cost = £16 per annum.

Granted you won't find out about any new accounts established and/or searches made for 90 days, but £84 a year (or £168 for two CRAs) is simply unnecessary in my opinion.

You mention fraud. In my 35+ years of banking, and the last 10-12 years or so of it online, I've never been a victim of fraud...and I refuse to let them (insurance companies, banks, CRAs, and card providers, etc) worry me into parting with money for nothing!

Thank you for your response in regards to Fraud but I know at least 3 people who have been subject to impersonation fraud in the last 12months. So I take the view of better to be safe than sorry, especially since personal data is easily obtainable through online resources.

NatalieC87

YorkshireBoy wrote: »

I pay less than that for my home contents insurance!...but each to their own. :)Another subscription?...or a £2 statutory report?

Another Subscription but I will cancel in 30days. So I am sure it is free.

It_can_get_better

YorkshireBoy wrote: »

You mention fraud. In my 35+ years of banking, and the last 10-12 years or so of it online, I've never been a victim of fraud...and I refuse to let them (insurance companies, banks, CRAs, and card providers, etc) worry me into parting with money for nothing!

I was stung in late December last year. I paid for something at the pharmacy counter in Tesco on my card, had to wait 10 mins for it to be ready so went and paid for my shopping. Got to the till and found i didn't have my debit card i just used, must have left it in the card reader. Quickly paid with other card and went back to the counter. Card gone, pharmacist didn't see anything.

Got home and cancelled the card in less than 30 mins of losing it. Asked if it had been used and they said no, only the for the transaction i made.

I don't really scrutinise my statements, but i was looking for something specific, and stumbled across a £160 payment to the AA. I had to think about it, and i was pretty sure i hadb't bought anything from them! Phoned up my bank and asked what time it was authorised, and it was 15 seconds before the card was cancelled.

I got the money back that day, filed a police report who said they could do nothing as there was no evidence, despite having the exact time i used the card in a Tesco store covered with cameras, so it wasn't solved.

It took less than 30 mins for someone to steal £160 and a month for me to notice. No credit checker would have been able to pick it up, even the bank didn't flag it up. In that circumstance no amount of protection would have prevented it, but if they took out a credit agreement i'd know about it.

You can never have complete protection from fraud, but the credit monitors do give peace of mind. I thought i was too smart to get caught out, but a momentary lapse of concentration and someone took advantage of it. Just glad i get mine free from Capital one!

It_can_get_better

YorkshireBoy wrote: »

How is it useful? Have you benefited in some way from knowing that?

It has informed me of every credit agreement or search that has been carried out, address changes. Most importantly it alerted me when i didn't cancel a direct debit on an account i hadn't used for over a year and hadn't updated them with my new address. It was put down as 1 late payment, but would have been 100% worse if i didn't have the credit checker. My fault for not changing the address and cancelling the DD, but it's nice to have a backup to the things i forget.

YorkshireBoy

It_can_get_better wrote: »

It has informed me of every credit agreement or search that has been carried out, address changes. Most importantly it alerted me when i didn't cancel a direct debit on an account i hadn't used for over a year and hadn't updated them with my new address. It was put down as 1 late payment, but would have been 100% worse if i didn't have the credit checker. My fault for not changing the address and cancelling the DD, but it's nice to have a backup to the things i forget.

Sorry my question (possibly poorly worded) was specifically regarding the Egg card's migration to Barclaycard.

But it doesn't matter now...your reasons for subscribing have been made clear.

It_can_get_better

YorkshireBoy wrote: »

Sorry my question (possibly poorly worded) was specifically regarding the Egg card's migration to Barclaycard.

But it doesn't matter now...your reasons for subscribing have been made clear.

I don't think i was being clear in what i was trying to explain either, i knew what i meant!

Gromitt

Don't forget https://www.noddle.co.uk/ allow you to get free credit reports from Call Credit.

Then you only need to get some £2 reports from Experian and Equifax a few times a year.

Saints2011

It_can_get_better wrote: »

Most importantly it alerted me when i didn't cancel a direct debit on an account i hadn't used for over a year and hadn't updated them with my new address.

Direct debit for?

jens1970

Gromitt wrote: »

Don't forget noddle.co.uk allow you to get free credit reports from Call Credit.

Then you only need to get some £2 reports from Experian and Equifax a few times a year.

Thanks for the tip. I've been to the noddle site but can't see any references on how to get free credit reports?