TSB not Updating Credit Agencies

rmagictastic

Hello all.. so i check my credit score every month with experian and found that my score had gone up by 100 points :j

However upon investigation i found that an old TSB credit card account status had not been updated since i settled 2 years ago!!

Do they have a legal time frame in which they have to update the CRA's with correct and true information?

in my mind they have impacted my ability to get good credit for 2 years..:mad:

by the way ive spoken to experian and callcredit who both confirm that the update only came in 2 weeks ago.

TSB overseas call centre just said sorry for the inconvenience..
not good enough.

Thoughts, next steps, recourse.. what to do?

Rmaj

BugsyBrowne

More fool you if you check experians credit scores each month as they'e worthless to a lender therefore worthless to you.

rmagictastic

Please elaborate.. dont quite understand, also typo on my part.. i use equifax not experian..

YorkshireBoy

rmagictastic wrote: »

Hello all.. so i check my credit score every month with experian and found that my score had gone up by 100 points :j

Stop wasting your money on scores. Just get a £2 statutory report every now and then.

Do they have a legal time frame in which they have to update the CRA's with correct and true information?

Not as such, but the 4th principle of the DPA says information they process must be accurate. Challenge them on this point.

in my mind they have impacted my ability to get good credit for 2 years..:mad:

It'll be hard to prove the extent of this 'impact' if you're after 'compensation'. Maybe you'll get some 'goodwill' instead?

Thoughts, next steps, recourse.. what to do?

See above.

NB: It's nothing new from LTSB. I regularly had data on my CRA file that was 3-4 months out of date. That was 3-5 years ago, so they haven't improved any since!

leicsmarkyr

Surely if the account is settled which generally been closed and nil balance, i.e. no longer in use or useable, then there is no need to update as there is nothing to update since it was closed.

I have accounts that where settled in 2007 and the last update was 2007 which I expect

YorkshireBoy

leicsmarkyr wrote: »

Surely if the account is settled which generally been closed and nil balance, i.e. no longer in use or useable, then there is no need to update as there is nothing to update since it was closed.

I have accounts that where settled in 2007 and the last update was 2007 which I expect

I read the OP differently.

I thought they were saying they'd paid off and closed the card 2 years ago but LTSB hadn't told the CRA that the account was "settled" until very recently.

Perhaps the OP will clarify?

rmagictastic

YorkshireBoy wrote: »

I read the OP differently.

I thought they were saying they'd paid off and closed the card 2 years ago but LTSB hadn't told the CRA that the account was "settled" until very recently.

Perhaps the OP will clarify?

You got it Yorkshire.. you are correct.

leicsmarkyr

I take my comment back for this particular scenario then.

But it is why posts (in my opinion) should be clear and concise with the correct information so assumptions or stories read differently. This is not directed specifically at the OP I add.