Experian - Are they pulling my leg? Have you heard of non-foot print searches ?

CANDYTROOPER1922

rb10 wrote: »

If you are already a Co-op customer, then they will automatically be getting a monthly feed on data from Experian. None of this will show as a credit search, it'll just go through automatically.

What you refer to as 'non-footprint searches' do certainly exist.

The protection that you have is that whenever a credit application is actually approved, banks have an obligation to perform a full credit search. This will be recorded by Experian, and, if you have a subscription, you'll be notified.

Re the mobile phone contract that you mentioned in your first post, banks don't have to report your account ownership to all three credit reference agencies. It may be that your phone contract is reported to Equifax or Callcredit.



There are very strict rules surrounding the use of CRA data for marketing purposes, so what you say is not entirely correct.

Hello

Thanks to post 17 where they pretty much summed it up! There services doesn't do what they make it out to do! I urge everyone that has got this service and has not been alerted when a company has searched there report should demand a refund and complain to trading standards.

Even the password service they offer actually delays and stops credit applications. I had a password added to my account back in Sept when i first found out there was issues on my account relating to someone else. What they do is add a notice of correction. But when i went to open my account sole trader account with HSBC it alerted them that there has been fraud and that they would have to refer it to another department within HSBC. The issue was that they added a notice of correction stating that their has been fraud in the past and that they should ask for a password. Which they did. But the HSBC manger stated it is lucky you came this week instead of last because HSBC and many other banks simply decline any requests for accounts from people with notice of corrections and they now refer it to the other department who can actually see the full report as the managers can't. I have now asked them to remove the notice of correction as it caused more problems that help/protect.

Also i am not already a customer of the Co-Op.
The mobile phone contract was searched via Experian - The search appears but not the credit agreement.

CANDYTROOPER1922

izools wrote: »

OK let me make one thing clear

The credit score that Credit Reference Agencies show us as consumers is not provided to lenders

Only the actual credit file data itself, e.g. account data, electoral role data, previous search data, etc, is provided to the lender. They then use their OWN scoring system to decide whether you meet their criteria.

All lenders have their OWN scorecard and their OWN criteria.

Not only this, but when a lender works out your score, they DON'T just take in to account your credit file data, but also data YOU provide on the application form. Credit Reference Agencies DON'T take this in to account when you buy your "score" from them.

The scores that credit reference agencies market to us as consumers are misleading baloney. They suggest that any lender who uses a given agency will view you exactly as the score they sold you suggests.

THEY DON'T.

I personally don't believe for a second that the Co-Operative have shared their internal scoring results with OP for one second.

What I might believe, however, is they parroted back to him numbers from scores he previously posted to them when raising appeals.

There has been 2 occasions when they have quoted me the scores. One before an appeal. They must of got it from them.

CANDYTROOPER1922

katejo wrote: »

You can of course cancel your membership

You can of course read the previous posts

izools

samhor wrote: »

There has been 2 occasions when they have quoted me the scores. One before an appeal. They must of got it from them.

You really must try your hand at reading the post again.

EXPERIAN DON'T SHARE THE SCORE THEY SHOW YOU WITH ANYONE WHO DOES A CREDIT SEARCH ON YOU.

Anyone who does a search ONLY sees the DATA CONTAINED WITHIN YOUR REPORT.

The lender then use THEIR OWN SCORECARD to calculate your score.

Experian DO however function as a consultancy firm to help lenders build score cards so it may be that the co-operatives score card is closely modeled on the one Experian use for the Credit Expert score, but it is likely to differ in key areas so as to screen out the type of customer they don't want.

samhor wrote: »

You can of course read the previous posts

A very good tip indeed.

mauriphonic

Just a speculative guess, but the co-op could be retaining the result of the first search, and as the subsequent applications are relatively recent, basing their decision on the first search to avoid paying for another search as they will have to pay experian each time they perform a search. If this is the case, your beef has nothing to do with Experian, but with the co-op, who I would have thought we well within their rights to do this. Cancel the experian membership.

CleanShirt

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