Lender cant access Credit File

CFH5

Hi All,

Just bear with me on this one.

After much shopping around, I went through one of those profiling websites that recommends the best Credit Card for you based on your profile and not surprisingly I chose the top provider's product who after an on-line application said they would contact me with a decision within 4 days. 4 days came and went, then 7, then 10 so I called and there was a "problem". It seemed the lender (A well known Bank across the northern border of England) could not access my credit file. I subscribe to Equifax so I knew there was no issue with my score, in fact its green all the way, I overpay on my other Credit card and my mortgage, I am in gainful employment and so on. I gave the bank 2 charachters of my password at their request so they could access it at their end and I was told I would get a reply within 48 hours. I didnt. Instead I got a letter saying that the application was declined. After much to-ing and fro-ing I managed to speak to someone who basically told me that they use Experian and Experian could not access my Credit File and until they could, this bank could not process my application. I immediately called Equifax and asked if there was anything I should do. Have I too much protection, are my settings incorrect etc and they told me that they hadnt heard of such a scenario and that Experian should be able to see my credit details without any problems. When I called the bank in question, they said I would need to explain all this to Experian!!! Problem is that you cant speak with experian unless youre a customer!
Has anyone ever heard of anything like this and can anyone give me any steer. All this has taken about 8 weeks and Im extremely frustrated as you can imagine and i really dont want to do all this again with another provider just to hear the same thing.:mad:

Tixy

Have you tried getting a copy of your own file from Experian?
(either by the free trial or just the £2 report).

When you wrote the address on your credit application was that exactly the same way your address is written by say the council on your electoral roll form or council tax bill? (some times addresses written in a slightly different way can cause issues - particularly with flat & house numbers).

lisyloo

Do you live in a flat by any chance?
The times I've seen this it's often due to slight changes in address.
Do the bank and the credit agencies have exactly the same address?

CFH5

No I live in a house, the same house for around 10 years now and many finance agreements have come and gone without issue. For £2 perhaps its worth getting an experian report. At least then they would have a record of me.
It's a bit strange though wouldn't you agree?

CFH5

Just an update on this for anyone interested. I bought my Experian report as advised above and scored a whopping 990, excellent report, great candidate for lending etc etc and my report states that the last credit check done on me was by the lender of the credit card in question!!!!!
Think I'll shop elsewhere. The trouble is that most credit cards are underwritten by the same establishment.

sirwiggum

Credit scores are totally arbitrary. Couple of years ago I had 960+ with 3 defaults on file, electoral roll still being processed, and an arrangement to pay.

Something spooked them. Some are very strict - Santander I'm looking at you :mad:

Are there multiple searches on your account recently, if you've been shopping around for credit cards?

iancrt

CFH5 wrote: »

I gave the bank 2 charachters of my password at their request so they could access it at their end

Are you sure it was the bank you where on the phone to? I can't imagine any bank asking to do this....

CFH5

Hi All. Just to let you know how this all panned out. (Sorry about the delay above poster but they did indeed ask for 2 characters for my Equifax password). I got a call again just before xmas and the chap explained that it was Experian holding this up as I had a notice of correction on my file. Now this rang a bell as about 18 months ago I noticed some searches on my file from companies I had no dealings with so I put a password on my file to prevent this from happening again. So, in the advice of this establishment, I wrote to Experian and explained the situation, they said no problem, all I had to do was submit the request in writing and it would be removed within 7 days. The bank said all I had to do on confirmation of this change with Experian was to wait 30 days and re-apply with all the same details. So I did. In the interim I checked by score with Experian. It was 990 so things looked good. So when I factored in the 7 days for the Experian turnaround and the holidays, today was the day to re-apply. So I did and guess what? That's right, refused. So I called and went through all of the above. The guy on the other end said and I quote " I don't understand, everything looks fine, just give me a moment to check this". I gave him about 10mins before he came back and said that this time CallCredit (whoever that are) are the ones who don't like my report now. I wonder if I sign up to this lot will this bank just simply come back with Joe Bloggs Credit checkers or someone else until they find someone who will find some fault in my file. I looked and I see 1 late payment in 2010. Is this the sole reason to refuse someone in my position a credit card for a few grand? Someone above used the word arbitrary to describe credit file agencies. Pointless perhaps is a better word.
Avoid these jokers. The bank I mean. Total B(of)S!!! All comments welcome of course.

Tixy

Call credit is the 3rd of the 3 credit reference agencies (potential lenders will usually search 1 or 2 of the 3 agencies).

And all 3 agencies will typically have slightly different data for you (as past lenders will often only report to 1 or 2).

But I'd give up with that particular lender for the moment at least. Have you tried any other lenders?

[Deleted User]

CFH5 wrote: »

It was 990 so things looked good.

Why are you still focusing on the score?

Thrugelmir

CFH5 wrote: »

I see 1 late payment in 2010. Is this the sole reason to refuse someone in my position a credit card for a few grand?

Potentially yes. Depending on the product being applied for.

Though more likely you failed the lenders own scoring system.