Experian credit report tells me absolutely nothing?

Sammyantha

Hi all, I recently plucked up the courage to apply for my experian credit report (paid £2 after initially signing up for the "free trial" and getting no log in details from them, but that's another story...) and quite frankly I am baffled. It shows me my last 2 addresses, the credit searches that have been done on me, and 2 of my credit accounts (my bank and a loan i took out last year). It does not show my mobile phone account, insurance, or any other credit accounts, it doesn't mention my partner on the loan (it's a joint loan), and makes absolutely no reference to a credit "score". It basically shows me nothing, except that lowell finance are rather obsessed with me and have been checking my file at least 3 times a month for the last year!!

I'm confused. I paid £2 to see, what exactly? I was under the impression the credit report should show you where how and why you have bad credit (if you do)? Also, it doesn't show me as registered to vote here (I sent off the forms a month ago).

The reason I wanted it was because I've recently (after MANY years) been allowed to upgrade my nationwide basic banking to their current account with a cheque book, and open up a new flexaccount too, but was denied a credit card or overdraft.

~Beanie~

There are 3 credit reference agencies and to get a true picture, you need to get your report from all 3. Experian is one, Equifax and Callcredit are the other two.

Not all lenders report to the same agencies so it may be that your mobile phone account for instance, will appear on Equifax.

None of them will give you a credit 'score', you have to pay extra for that and as every lender works it out differently, its not worth getting.

Maybe your council haven't updated their records yet which is why you aren't appearing on the electoral register.

Tixy

The £2 report does not show a score - thats an extra fee (and not worth the money).

If you only registered to vote a month ago then its likely your local council have not yet updated to show you on the electoral roll (they update it monthly), and once they do it can take a month or 2 for this to show on your credit file.

Your mobile phone account provider may choose to report to one of the other 2 credit refernce agencies (equifax and callcredit), insurance is often not reported on your credit file even if you pay in installments, your other 'missing' credit accounts also might be on your other reports with the other agencies.

Unsual for it to show your loan and not to show your partner as a financial associate (assuming the loan is not fully paid).

I'm confused. I paid £2 to see, what exactly?

You paid £2 to see what experian have on file for you, and what a potential lender would see if they check experian. A potential lender will see exactly the same as you have seen, except the credit accounts are anonymised, and they can only see credit application searches, not the footprints left by lowell.

EllaBeagle

I would recommend you go with Equifax online report. Its easy to follow and you can see actual changes when they occur.

Experian to me was just a load of rubbish with all the uuuuuuu and 000000?? Whats all that about?

Equifax has a clearer lay out and theres a sort of month by month calendar for each credit agreement. Up to date months are in green, 1 and 2 payments late in yellow with a big 1 or 2 in the box and 3 payments late and defaults in red.

Hope this helps.

HappyMJ

Defaults are very bad so if you any of them that is bad and they will be red on the credit report or be marked with a D. If you have 1 or 2 late payments then not too much to worry about but if there are a lot then it is bad.

By the sounds if it your credit looks OK.

EllaBeagle

Sammyantha wrote: »

Hi all, I recently plucked up the courage to apply for my experian credit report (paid £2 after initially signing up for the "free trial" and getting no log in details from them, but that's another story...) and quite frankly I am baffled. It shows me my last 2 addresses, the credit searches that have been done on me, and 2 of my credit accounts (my bank and a loan i took out last year). It does not show my mobile phone account, insurance, or any other credit accounts, it doesn't mention my partner on the loan (it's a joint loan), and makes absolutely no reference to a credit "score". It basically shows me nothing, except that lowell finance are rather obsessed with me and have been checking my file at least 3 times a month for the last year!!

I'm confused. I paid £2 to see, what exactly? I was under the impression the credit report should show you where how and why you have bad credit (if you do)? Also, it doesn't show me as registered to vote here (I sent off the forms a month ago).

The reason I wanted it was because I've recently (after MANY years) been allowed to upgrade my nationwide basic banking to their current account with a cheque book, and open up a new flexaccount too, but was denied a credit card or overdraft.

By the sounds of it Lowell have an old debt that they are possibly trying to retrieve from you. Have you had anything from Barclays which wasn´t paid in the past?

Sammyantha

Yup, looks ok on experian, which is who nationwide go by, but they refused me a credit card and i want to find out why as they were vague and just basically said "computer says no" lol. Thanks, i will apply for the reports from the others too.

Nope not barclays but i had an old store card which is 12 years statute barred lol, i get letters every couple of months from different people about it.

Experian_company_representative

The guide at the end of your report explains the status codes, which basically show whether your accounts were in order for the months shown (up to 72).

Re your partner, we are only allowed to show you financial information in your name, but their name should be included in the section marked 'financial associates'.

James Jones

Sammyantha

Thank you James, however my partner's name is not mentioned ANYWHERE on the report. All the codes show that balances are up to date.