Equifax Credit Report Query

JLW7

Hi

Recently checked credit rating/score. I have 4 credit cards that have zero balance that are listed as settled. I have an active Credit Card with HSBC but this is not listed. I've had the same address for years and its not linked to previous address.

According to Equifax, I have the following:

"You have 4 active accounts and 4 settled accounts on file at your current address. Credit grantors prefer that you have at least one or two accounts as part of your credit profile. Active accounts are preferred to settled accounts."

Ideally I'd like the HSBC active account to start appearing on my credit report as it should improve my score.

1) Is there anything I can do to get this included
2) Should I close down some of the settled credit cards?

Thanks

Tixy

HSBC probaby just choose to report to one of the other agencies (I've got a feeling they may only report to experian but I'm not certain).

A settled credit card is a closed account - i.e. you no longer have access to that credit. Those account entries will stay on your file for 6years from the settlement date.

An credit card account that doesn't say settled but just has a nil balance isn't closed, and you'd need to contact the lender to close it for them to mark your file as settled.

awayinchina

HI,

I bank and have a CC with HSBC and they actually report to equifax in regards both my accounts. Bank account and Mastercard.

hope that helps

Gordon_Hose

You can't force them to report.

A "settled" status against the credit card accounts suggest they already are closed.

If they were still open with available credit they wouldn't be listed as "settled".

JLW7

Hi

Thanks all for replies.

From a fraud prevention viewpoint, it sounds like if a credit card is "settled" then no-one could access it anyway, so contacting the CC company and asking them to close would have no affect as its already closed. Is that correct?

I'm just trying to ensure I'm doing everything possible to ensure my credit score is as high as it can be.

Other accounts like Sky, EON that I expected to be on my credit report are also not present even though I have been with them and number of other suppliers for years at the same address. I guess they would appear if I had defaulted though...

Jon

Tixy

From a fraud prevention viewpoint, it sounds like if a credit card is "settled" then no-one could access it anyway, so contacting the CC company and asking them to close would have no affect as its already closed. Is that correct? YES

I'm just trying to ensure I'm doing everything possible to ensure my credit score is as high as it can be. Don't focus too much on your score, its not a number anyone but you or the agency will ever see - focus on what is actually on your credit reports and the other information that will make you most attractive to lenders (assuming your aim is that you want to apply for new credit at some point soon). Ideally check your other 2 reports as well, as you won't know which agency a potential lender will use for a search)

Other accounts like Sky, EON that I expected to be on my credit report are also not present even though I have been with them and number of other suppliers for years at the same address. I guess they would appear if I had defaulted though...
Possibly - some lenders report regularly to 1 agency, but will report to the others if there is negative data.
Some utility companies currently only report at all if there is negative data.

In terms of your HSBC card - might be worth double checking the address that HSBC use is exactly the same as the address equifax are using. If its formatted slightly different this can cause an item not to appear on your file (particularly seems to be an issue for people with a flat number & house number or something similar).