Credit Issues - need desp. help

plumberman_2

Hi all , it my first post. Maybe someone can help me with my "credit problem".

I moved into my house in July and transferred all my accounts with me to my address (4 bank accounts, 2 cedit card accounts). I applied over the phone for a bank account with IF. They denied me flat saying my credit rating wasnt good enough. I was somewhat suprised as I have no adverse credit issues. So I contacted Equifax who IF use as the ref. agency, and they couldnt find me on the address I gave them. This was Feb 2. They then contacted the electoral role under my instruction and ammended their file to link me with the address. Case closed i thought. However it turned out that none of my credit card accounts link to that address as Equifax havent been supplied the details by the respect. companies. So i contacted my credit card companies and made sure that my address they hold, actually matches the address given by Equifax (I was convinced this was the case since i was receiving statements every month.) This matched.

After sending Equifax my original statements - bank accounts and credit card statments, they retuned them saying they needed a letter from my credit card company instead. Ive got to the stage now where I have to contact Mint/Virgin to tell Equifax what I have already shown them in my statements. They refuse to use this as evidence as it breaches DPA as Mint/virgin have not formally agreed to share data with Equifax. Isnt this my data and my choice whether my data gets shared?

Also why will Experian accept me sending a statment but Equifax wont? I have spent over 2 months sorting this issue out and the staff at Equifax seem to tell me something different every time I ring them. Can someone tell me whose data the credit card companies hold and a quick remedy to get my credit back on track?

May Thanks
n

Reaper

Sorry to hear your troubles.

Each credit card company can choose to supply details of your credit cards to just Experian, just Equifax, both, or even neither.

As soon as your details are stored on a computer you have a right to check they are correct, however you have no right to force anybody to record that data in the first place.

If you had done your credit searches before you moved house you would have discovered that not all of your details were held by both companies even back then. It could well be that you have done all you can already.

If you want a credit card company to see as many of your other cards as possible then apply for one which does searches with the correct agency (Experian in your case). You may find this thread useful.

Galstonian

Unfortunately I don't think there is a quick fix. I suggest you write rather than phone. Ask for a copy of your credit file from your previous address, Draft a letter explaining the situation pointing out how accounts have not followed you and send copies of your letter with any supporting evidence (electoral roll extracts, statements etc..) to both the lenders and the CRAs asking them to sort it all out. It all takes time and I have to agree, the CRAs do seem to spout a lot of rubbish and change their rules to suit themselves but the ones on the phones seem to be the worst. Avoid them if you can, its better to take longer and get it done right than bang your head off the phone.

plumberman_2

My details were held by Equifax from the cedit card companies because on my credit report, it shows that my credit cards are registered to my old address. My main problem seems to be getting Equifax to update the information to relfect it at my new address.

Reaper

Ah I see, you need to make sure the credit card companies really do have your correct address (although it sounds from what you say as if they have). If so then they typically update their information to Equifax once a month. So either they have not had a chance to pass the information on yet or they are failing to include it.

I suggest you target the credit card companies instead of Equifax, as I suspect the fault lies with them.

plumberman_2

OK I will do that. The only thing i find odd is that both companies seem not to be updating their records and I did change the address in September 2004. Seeing as the old address is my parents house, is there any harm in using that as my "current address" toi apply for new credit cards as my 0% balance ran out last month and i dont really want to be shelling out on more interest.

Galstonian

Well, it may cause harm if you have applied elsewhere already saying you are at a new address then suddenly go back to your old one. It will depend on what is on each of your credit reports (i.e. each address) what they say about you and who else is associated with you.

To be honest it is not a huge surprise to find a rejection soon after moving, I'd suggest hanging on until you can get everything straight before trying again. If you do have to try and are rejected again then definitely stop there - do not apply for any more credit until you get everything fixed. You could still try appealling the IF decision, I would do that before applying elsewhere.