UK Credit Reference Agencies Unfit For Purpose and must be reformed - Discuss

A_Flock_Of_Sheep

Dr_Cuckoo3 wrote: »

I do find them very knowledgeable on the subject to be honest , I notice they don't buy Tesco gift cards from the Tesco petrol station with their 123 card though

Sorry I think I sounded a bit mean but didn't really mean it how it came across. What I mean is it is not really expertise though to discover Santander run a current account paying 3%. The firm advertise it enough. Anyone who doesn't know they have this amazing deal must live under a stone.

I choose not to partake in it because it is a reportable current account and don't want to give Santander permission to report my account to a CRA.

In fact it's highly improbable I would even get the account as I purposely falsify my Electoral Roll form with a different name so am probably by now long forgotten by the CRA's. The last account to go was ages ago when I discovered British Gas thought it would be clever to start reporting people's gas accounts to Experian. They were soon given the heave ho and I duly gave them that reason for leaving.

VictimOfImpersonation

Am still not sure what you think you meant by tin foil hats, Doctor!

Am I supposed to wade through that FSA link and find something that looks like one of my posts :rotfl:

I can see one similarity and in that case it does put me off reading it but where's the paranoia in the link?

So did you make a mistake using the phrase in describing me? There are far better words you could use and I'll give you a free go

Dr_Cuckoo3

A_Flock_Of_Sheep wrote: »

Sorry I think I sounded a bit mean but didn't really mean it how it came across. What I mean is it is not really expertise though to discover Santander run a current account paying 3%. The firm advertise it enough. Anyone who doesn't know they have this amazing deal must live under a stone.
.

innovate is good for savings account advice (including the long thread on D/Ds to qualify for the current account interest)

Though not clued up on credit products (because it is new to them)

Airdrie Savings Bank does not report to CRA's and a lot of their customers are old women

A_Flock_Of_Sheep

But in answer to the question here I don't think CRA's as unfit for purpose. It is a good idea in principle but the consumer should be given more freedom on who reports to the CRA and to get the data removed.

If I asked to remove all settled "green dot" immaculate accounts because I disagree with the system - ie removal of all positive data - I would be told I can't even though it would be me "ruining" my own record.

The CRA also seems to believe the reporter over the consumer which was wrong in my case. I gave up fighting this cause in 2006 and just decided to get rid of everything that "reported" to my account and start feeding the CRA with a different name. Not sure what my credit record looks like now - that was nearly 8 years ago and accounts fall off after 6 so I assume there is an empty file somewhere about me!

A_Flock_Of_Sheep

Dr_Cuckoo3 wrote: »

and a lot of their customers are old women

Thanks for that

Dr_Cuckoo3

VictimOfImpersonation wrote: »

Am I supposed to wade through that FSA link and find something that looks like one of my posts :rotfl:

wade through the select committee minutes and see if the CRAs are claiming to have been born yesterday and/or trying to pull the wool over thick MPs when complaints arise

http://www.publications.parliament.uk/pa/cm200304/cmselect/cmconst/593/593we06.htm

VictimOfImpersonation

In case anyone was wondering about Dr_Cuckoo_3's cryptic reference a few posts back, Delphi and CII were the subject of a 2011 MSE thread. (see post #3 that thread which gives names to the the Cached CRA Details systems being complained about.)

Basically one thing it means that CRAs are wrongly providing full credit report data in one large offline database to any organisation that pays enough for it. And customers have no idea who has bought it or looked at it because enquiries naturally aren't recorded anywhere. Worse than that, they are processing data using their own home-grown algorithms and applying their own discriminatory scores to such weird and wonderful concepts as "propensity to pay" and then selling those subjective concept scores as real personal data to commercial interests. That is indeed secret coded information. Thanks Doctor for reminding us.

This is a disgrace and anyone that comments that CRAs are fit for purpose must clearly be making the point that the purpose is purely commercial and not the slightest bit in the public interest.

wiseshark

A_Flock_Of_Sheep wrote: »

In fact it's highly improbable I would even get the account as I purposely falsify my Electoral Roll form with a different name

I do understand your reasons for doing so, but deliberately giving inaccurate or false information is against the law, so good luck there.

A_Flock_Of_Sheep

wiseshark wrote: »

I do understand your reasons for doing so, but deliberately giving inaccurate or false information is against the law, so good luck there.

You may or may not be aware that using a different name is not against the law. Only if you are committing a fraudulent activity. It may appear as fraud to the lay man that a CRA and council is being given a different name but I assure you it is not fraud or illegal.

Indeed check your driving licence which has a space for any other name you may use for yourself.

It would become illegal or fraudulent if I obtained credit under the name and then purposely defaulted with a view to ripping the creditor off. Then I would be obtaining money under deception. My bank, ISA and savings accounts which are very old are all in my proper name but simply do not "report" to any CRA's monthly.

I can assure you that many celebrities actually use a different name for their electoral form.

Basically in the UK you can go by any name you choose without any deed poll providing it is not done for any illegal or fraudulent activity. So if I obtained credit in my "other" name and paid it all off correctly in accordance with the agreement it is perfectly legal.

wiseshark

Thanks, that is very useful and appreciated.