Credit agencies a big scam (please read so you know the truth before its to late)

gb12345

Dobbi wrote: »

If they worked primarily for the business and not for us, then why wouldn't they have the information

Because Einstein, they work for different businesses and only have access to the information for those businesses that they work with.

Dobbi wrote: »

Not something I am going to bother with anymore and something I take up elsewhere.

Good luck with your quest, I look forward to hearing about how you single-handedly brought in legislation to force businesses to share information with each other.

meer53

You don't have to sign up to any credit reference agencies. I'm not signed up with any, never have been, if i have fraud on any of my accounts, my bank will let me know or i will spot it. I monitor my accounts daily online and use the text message service which is provided free of charge. Any unauthorised transactions will be refunded in full. If i ever encounter problems in obtaining credit, then i will check my credit files. I really don't see the point, credit reference agencies don't offer a fraud prevention service, they're notified after the event.

Dobbi_2

gb12345 wrote: »

Good luck with your quest, I look forward to hearing about how you single-handedly brought in legislation to force businesses to share information with each other.

Lol because the person posting on a site set up by someone :money: on a crusade hasn't forced lots of change to legislation.

/golfclap at how stupid you have just made yourself look.

Dobbi_2

meer53 wrote: »

You don't have to sign up to any credit reference agencies. I'm not signed up with any, never have been, if i have fraud on any of my accounts, my bank will let me know or i will spot it. I monitor my accounts daily online and use the text message service which is provided free of charge. Any unauthorised transactions will be refunded in full. If i ever encounter problems in obtaining credit, then i will check my credit files. I really don't see the point, credit reference agencies don't offer a fraud prevention service, they're notified after the event.

Credit agencies will notify you if someone opens and account, or you get a credit search against your name, you can then stop it and prevent items being purchased, delivered etc before the damage is done.

Now lets say you don't bother with anything apart from your bank (very dangerous)

The day you need to get credit for something, lets say a mortgage, or even remortgage, or want to buy a car etc.

You then get declined.

You then go and check your credit file and find for the last few years someone has been buying stuff using credit and hasnt kept up repayments, has defaulted etc on these items.

Do you know how hard it is to get this stuff removed from your credit file?(it doesn't happen in like days or even weeks, it takes months, if you are lucky)

Your bank only knows what information they ask for when they credit search you, or what money goes in and out of an account you have with them, they don't know anything about your credit file and if someone has set up accounts in your name,

And people wonder why the country loses 100's of millions a year in identity theft lol

gb12345

Dobbi wrote: »

Lol because the person posting on a site set up by someone :money: on a crusade hasn't forced lots of change to legislation.

/golfclap at how stupid you have just made yourself look.

Really, how have I looked stupid? There is unlikely to ever be legislation to force commercial enterprises to share their clients information with each other.

You are the one who is making yourself look more and more stupid with each post. If I was you I'd give up now and go and ask mummy and daddy to explain how commerce works, perhaps then you could tell all your friends in show and tell tomorrow.

gb12345

Dobbi wrote: »

You then go and check your credit file and find for the last few years someone has been buying stuff using credit and hasnt kept up repayments, has defaulted etc on these items.

I think someone would notice when the statements and DCAs start making contact.

I can 100% guarantee you that no one will be opening an account using my name and address.

antrobus

Dobbi wrote: »

...You then go and check your credit file and find for the last few years someone has been buying stuff using credit and hasnt kept up repayments, has defaulted etc on these items....

If someone had been doing that over the "last few years", then you'd already know about it. All those final demands and letters before action coming through your letterbox would have been the big clue.

I'm not so sure you've quite thought this through.

MamaMoo_2

Dobbi wrote: »

Lol because the person posting on a site set up by someone :money: on a crusade hasn't forced lots of change to legislation.

/golfclap at how stupid you have just made yourself look.

You're hardly the next Martin Lewis, love. For a start, you think that CRAs should change the way they work because you were ignorant to how they actually worked, and now you've found out you believe it'd be easier for you if they were to change all the rules than for you to simply educate yourself. :T

meer53

Dobbi wrote: »

Credit agencies will notify you if someone opens and account, or you get a credit search against your name, you can then stop it and prevent items being purchased, delivered etc before the damage is done.

Now lets say you don't bother with anything apart from your bank (very dangerous)

The day you need to get credit for something, lets say a mortgage, or even remortgage, or want to buy a car etc.

You then get declined.

You then go and check your credit file and find for the last few years someone has been buying stuff using credit and hasnt kept up repayments, has defaulted etc on these items.

Do you know how hard it is to get this stuff removed from your credit file?(it doesn't happen in like days or even weeks, it takes months, if you are lucky)

Your bank only knows what information they ask for when they credit search you, or what money goes in and out of an account you have with them, they don't know anything about your credit file and if someone has set up accounts in your name,

And people wonder why the country loses 100's of millions a year in identity theft lol

Do you honestly think that by the time the credit reference agencies have contacted you that you will be able to stop goods being bought and delivered ? Banks and financial institutions report to the CRA's once a month, they're not sitting there monitoring your account 24/7 :rotfl:

Most banks have sophisticated fraud detection systems that will usually pick up on any transactions which may be classed as dubious or not within your normal spending patterns, only this type of fraud check will prevent goods from being delivered.

For your information, i do know how "this stuff" gets removed from credit files. You see, i am one of those people who arranges for "this stuff" to be removed from credit files. And it doesn't take weeks or months.

I also search the credit files of customers who are asking me for a loan or overdraft, so i feel that i do know a little bit more about this than you do. To be honest, you seem to know very little, you appear to be making it up as you go along.


It's not "very dangerous" to not be signed up to a CRA. Your post is a load of absolute rubbish.

Money-Saving-King

Another scam that isn't a scam. These scam threads are becoming a bit of a scam now!