FTB - Please advice

johnrrr

Hi,

I am an FTB and had recently accessed my credit file on Experian and Equifax. Bit disappointment with the report from Experian. The scores are good 950 on experian and 470 on equifax.

I currently have 2 credit cards (from last 5 years), which are paid in full each month through DD. I recently did my final payments on a personal loan. I do not have any other credit/loans apart from this.

In the Equifax report, only 1 credit card and the personal loan is shown. While in Experian none of them (credit card or loan) is shown. I have contacted the lender and agency. They say they have found what the issue is and said this will be rectified in next 24 hours.

My concern over here is, if on the Experian report only latest months credit is shown, then will I be considered as a person with good credit history for a mortgage application. Will the agency also look into the Equifax report?

Can someone please help me what option do I have. Should I wait for mortgage application or will the Equifax report do the job?

Thanks

Jellybean_Jo

Have you tried Callcredit as well? They're the other big credit referencing agency I think.

Going off information previously discussed on here: as for whether one report or the other will be sufficient completely depends on the lender. Some will only use one, some will use all of them. Just wait and see what happens with the Experian report, and if you can, look at callcredit. You only need the basic report too, don't pay for the score (it's pointless).

My Equifax report hardly shows anything compared to my Experian report and I never had an issue regarding discrepancies between the two.

kingstreet

Some organisation only supply account information to one CRA, so don't expect all your accounts to show on all three credit files.

Wh05apk

Don't get too hung up over your "made up credit score number" The important thing is you have been picked up, you are on the voters roll, and have no adverse, with some credit recorded, that should be enough for most lenders.

johnrrr

Will update you on what comes out tomorrow. I am regsitered on voters role and have no default/CCJ.

One more thing. I have moved 2 houses (rented) in the last 3 years. So had to close down electricity/gas billing at those address. These are shown as "settled" on the credit file. Is this okay?

johnrrr

Just an update, the report now looks okay with 1 card and 1 loan shown. The score has increased a bit.

Thanks for help/guidance.

holly_hobby

Hi John,

If you want to see all 3 in one hit, try checkmyfile.com - whom perform a multi agency check on all 3 CRAs, and have a free 30 day trial period (remember to cancel down before this to avoid nxt mths charge).

And whilst its good that you have obtained your CRA report, the "scores" shown have no correlation to the actual credit score a mortgage lender peforms. Which whilst based on your credit history, also takes into account other additional personal data - so don't fret too much about what experian, equifax or callcredit "score you at", they have little bearing on your mge app evaluation.

Hope this helps

Holly