Don't understand entry on credit report

bwelsher

Hi all,

Some time ago I requested a copy of my credit report from Experian and there was an entry on it that read as following:

Credit Account Information


C2 Mr Ben E Welsher, Address: My old address
Date of birth: 03/11/1981
NEXT DIRECTORY MAIL ORDER
Started 04/02/02 Balance £0 Settled 12/08/03 Credit Limit £200
Status History 000000000000
In the last 16 months of account activity, the number of status 1-2 is o and the number of status 3+ is 0
File updated for the period to 07/09/03

Settled accounts are kept on file for six years from the settlement date. The status history in respect of a settled account relates to the period of time prior to the date of settlement.

I'm not really sure what this means, it seems to suggest I had some kind of debt with Next but it was several years ago and I can't recall anything like that. Can anyone explain?

Thanks!

newlywed

As far as I understand it, you got something on credit from Next in 2002 and paid it off (settled) in August 2003.

The list of 000000 means it was paid on time with no late payments or missed payments.

The record will stay on your account until 6 years after August 2003 - this is normal.

bwelsher

newlywed wrote: »

As far as I understand it, you got something on credit from Next in 2002 and paid it off (settled) in August 2003.

The list of 000000 means it was paid on time with no late payments or missed payments.

The record will stay on your account until 6 years after August 2003 - this is normal.

So this information would not be regarded as adverse to any banks or other institutions checking my credit file?

newlywed

Not as far as I can see.

It shows you bought something on credit. Paid it on time. Paid it off. Didn't buy anything else from them since 2003.

Nothing untoward, in fact shows you handled your credit correctly, paying on time.

Edit: I don't work in a bank though!!

bwelsher

Phew, thats good news as I've already got a default on the account from that time that I've got try and shift!

Thanks for the advice.

yojibop

Bwelsher

Just to confirm, I work for a Bank and deal with credit references and credit file advise.

NewlyWed is indeed correct, it shows purely that you had a £200 facility with Next directory, that you have no balance owing to them, no arrears and that all payments were made on time.

Hope this helps,

Joy.