Time at Current Address

Poorcouple

Hi All,

On a credit report, does the "Time at Current Address" section matter, if, for example, it differs from one search to another?

To give you an idea of what I've done - On a couple of separate applications I guestimated the date that I moved into my current address. On one application it says "time at current address 6 years 0 months" and on another it says "7 years and 0 months"

Will that matter?

Thanks again

izools

It can to a certain extent, another agency worth knowing about is N Hunter.

They record details of the information you provide on any application you make, no matter who it's with or which credit reference agency they use, and compare this with data you provide on subsequent applications elsewhere.

They then give the lender an idea of the likelihood that incorrect information has been provided - this is to prevent a) identity theft (where someone applies for credit in your name), and b) credit fraud (where you apply for credit but provide false information to try and boost your chances).

E.g.: If you have made half a dozen applications in the last 18 months and they all say you've lived at your address since 03/2012 and been with your employer since 01/2010, then an application comes in to say you've been at your address for six years and been with your employer for five, N Hunter will flag the app as suspect and the lender may decline your application or ask for further information.

Best keep things as accurate as possible

Poorcouple

Thanks for that, so is it worth me contacting all previous companies I've tried for credit with and changing this info, or will it only take into account the info within the last 12 months, and as long as I use the acurate date from now on, will it improve my credit report quickly? (as old info drops off once its a year old)

If that makes sense? x

izools

There's no point contacting anyone to correct anything, they won't change what it says on your credit file and might add a fraud marker to your file when you call them to say "Yeah, I gave you incorrect information".

Best leave as is and be consistent from now on. As searches only stay on your report for 12 months it will not matter from 12 months after a given application was made but N Hunter keep data for a lot longer. As it sounds like they were only very minor inconsistencies you provided I wouldn't worry about it

Tixy

I doubt that the error you describe will make much difference to your ability to get credit. And also I doubt that contacting the previous companies will change their records or the information they have shared with national hunter.

I believe national hunter records of applications are kept for 6 years.

Just ensure you use the correct consistent data going forward.