Experian AGAIN!

bloodytickedoff

Opened an account with halifax to get the halifax clarity card last year. Waited 6 months to keep them happy(transferred all out DD bills etc). Applied for the clarity card, refused, (report from experian). Scratched head, paid for full report. Not on electoral roll, we are now, had an "association" with Bank or ireland mortgages for a mortgage we paid of in full in 2001. BUT the "association" is still there, removed it. Had "revolving" credit..which is financial speak for you have just opened up a new bank account....yep, with effin Halifax to get their card !!!!!!. Overdrafts, 100 pounds with the halifax, (not used in the 6 months at all). 1000 pound overdraft with old bank nat west , never used in 30 yrs. Now both removed. Zero overdraft facilities with both banks now and have since closed the halifax account but kept the clarity card.
No mortgages,. no bills, (all DD), no kids, 1 credit card paid in full for 20 + yrs , same bank for 30+ yrs, spoke to my MP who writes to experian asking them to explain themselves, basically they say sorry but tell her to poke off. Experian "says" they have cleared up everything!! yeh right.
So today, we apply to open an account with a share dealing service....guess what. REFUSED, due to a report by.....TA DA, experian.:j
No loans at all in the last year/outstanding anything/nada zip diddly. So now we have to write to experian with our 2 quid to find out why.

Scam.???????????????????........................:T

Tixy

Experian are not telling the companies to refuse your applications. They are only supplying them with the data on your file for the potential lender to assess along with the other information they know about you when making a decision.

Financial associate data will remain until it is removed by you (btw have you checked the other agencies and if they still have the financial associate showing).

Revolving credit is credit reference agency speak for either an overdraft or credit card, something which you use, repay and can reuse. It distinguishes those accounts from fixed term loans.

You need to check you credit report with experian. If everything on there is accurate and correctly reflects your past credit history etc then that is what is important.

If you believe there is an error on your report then you would need to contact either experian or the lender who reported the data you think is inaccurate.

bloodytickedoff

Thing is Tixy did all that b4 when we paid for the report. Removed the ONE item that was on there and that was the "association" with a mortgage co, Bank of Ireland, that was paid off and closed. Experian weas the company used by the sharedealing service and it was also experian that are now showing up something negative again...........despite us having done nothing in the past year.
Bought nothing except with cash, sold nothing, except a car, for cash. Holiday paid by CC, which is paid off in full every month.
Its a weird coincidence that its experian again isnt it.
The fallacy that companies "make" up their own minds after getting a report is just that, a dream.

Tixy

It is not a fallacy. But either way the thing to do next is to look at your report and see if you can work out what the potential issue was that the sharedealing service didn't like.

It could be one of your creditors has incorrectly reported something to experian, it could be a case of identity theft by an indiviudal or identity confusion by an organisation. So to blame experian before you have even looked at your report seems to be a bit blinkered.

bloodytickedoff

Not really, its a coincidence that its experian...again. The were not very helpful before. I had to ask my MP to write to them to aske questions as they didn not want to help me. They actively search from refereence agencies to add to your report, to fat it out so that you poor my public have to pay them to find what the flag is. If you dont know that your being a tad niaive. Check out their profits and where theyn come from

Tixy

Not really, its a coincidence that its experian...again.

Experian are the largest of the 3 credit reference agencies and so its not suprising that both halifax and the share dealing service used data from experian when assessing your account applications.

They actively search from refereence agencies to add to your report, to fat it out so that you poor my public have to pay them to find what the flag is.

The account and search data they report comes directly from the lenders/suppliers who choose to report to experian.
The electoral roll data comes directly from councils.
Information relating to CCJs etc comes from the registry trust.

Check out their profits and where theyn come from

The £2 statutory reports are a very small proportion of its turnover. Its profit is dervied from a multitude of different income streams.

gb12345

bloodytickedoff wrote: »

Experian weas the company used by the sharedealing service and it was also experian that are now showing up something negative again...........despite us having done nothing in the past year.
Bought nothing except with cash, sold nothing, except a car, for cash. Holiday paid by CC, which is paid off in full every month.
Its a weird coincidence that its experian again isnt it.

So what is this negative that is showing on your credit report then? If you haven't taken out any new credit, paid late or defaulted then it must have been placed there in error.

bloodytickedoff

well thats why I have had to pay yet again to see what these agencies trawl for and put on your report in a way to get folks to pay to see what and why they have loaded eranious outdated and at times confusing reports. 2 pounds is the statutory fee that can charge but how many know that, rather than the far higher fee they charge for those that dont know their rights!

Dirk_Gently_2

bloodytickedoff wrote: »

The fallacy that companies "make" up their own minds after getting a report is just that, a dream.

Wow! That's quite a statement to make!

Even more so as it's quite incorrect.

bloodytickedoff

Dirk_Gently wrote: »

Wow! That's quite a statement to make!

Even more so as it's quite incorrect.

You really really think that a lender etc looks at a report by say, experian thats not that hot and say, you know what, you look nice, we'll lend you the money!

Experian_company_representative

Sorry you've had issues bloodytickedoff. We make no money from £2 reports - quite the opposite in fact. By law lenders have to give you our contact details if credit has been refused and they've consulted the credit report we hold for you. But that does not mean it was the reason they said no - unless they specify this in their refusal letter. Only the lender knows the reason for its decision, but they don't always volunteer this so it can be useful to go back and press them for guidance. We are the largest of the three CRAs so when you apply for credit there's a good chance they'll come to us to check out your past borrow record. Many lenders continue to set high passmarks for their credit scoring so in many cases the result will simply mean that the overall picture all of your data (inlcuding your credit report) paints of you does not quite reach the required standard they are looking for. There's often no specific reason - but, as I say, only they can explain their decision.

James