noddle question

punkangel

hello, this might seem like a silly question but I signed upto Noddle and looked at my credit report, is the credit report I see the same as companies see when I apply for credit, as I was wondering why a debt from 2002 was not on there?

Cycrow

Yes its the same information that creditors get, altho they don't get everything you can see.

These reports don't contain every credit you've ever had, and are limited to 6 years, so credit that has been closed for more than 6 years will no longer display.

Also, there are 3 CRA's and each can contain different accounts, depending on who reports to who, what the creditors see will depend which one of these they get their information from

CallCredit (noddle) is the smallest of the 3, so doesn't have as many reporting them as the other 2

londonTiger

Cycrow wrote: »

Yes its the same information that creditors get, altho they don't get everything you can see.

These reports don't contain every credit you've ever had, and are limited to 6 years, so credit that has been closed for more than 6 years will no longer display.

Also, there are 3 CRA's and each can contain different accounts, depending on who reports to who, what the creditors see will depend which one of these they get their information from

CallCredit (noddle) is the smallest of the 3, so doesn't have as many reporting them as the other 2

I have sought credit reports on and off for experian and equifax (not at the same time). I only ordered the £2 reports when needed - never on the rip off monthly plan. One of them had a stealth charge where they upgraded to a fraud protection service for £10 more. Bringing it up to a total of £15 a month!! I was furious.

Never has there ever been an entry in one and absent on the other. They pretty much 100% corroborate each other.

Recently started hearing about noddle - does the market need another CRA? What do noddle provide than neither of the other two do?

I would not be surprised if all three of these were owned by the same banks, private equity firms etc.

fermi

punkangel wrote: »

hello, this might seem like a silly question but I signed upto Noddle and looked at my credit report, is the credit report I see the same as companies see when I apply for credit, as I was wondering why a debt from 2002 was not on there?

If it was recorded as a default in 2002 or any time more than 6 years ago, then it would not be on any report you or lenders could see. Defaulted accounts are removed 6 years from the default date.

If it wasn't defaulted, then they are removed 6 years from the settlement date, so if that was again more than 6 years ago, the account would not show on any report.

If more recent than 6 years, it may just not be on Noddle, but could be on Experian and/or Equifax, which you would need to check as well.

Cycrow

yes in general a lot will report to all 3, but its not always the case, occasionally you will find some that only report to 1 or 2. So while its often the same, its not always. Which is why its worth checking all 3 on occasion.

CallCredit being the smallest and newest usually has the most missing information, but they are now starting to get a lot more who report to them

londonTiger

Cycrow wrote: »

yes in general a lot will report to all 3, but its not always the case, occasionally you will find some that only report to 1 or 2. So while its often the same, its not always. Which is why its worth checking all 3 on occasion.

CallCredit being the smallest and newest usually has the most missing information, but they are now starting to get a lot more who report to them

Are these three the actual companies that creditors report to or are these just aggregators that retrieve information from other sources?

fermi

Callcredit (noddle), Experian (creditexpert) and Equifax are the actual Credit Reference Agencies.

They receive credit account data direct from lenders, and public record information direct from official sources such as the registry trust.

londonTiger

How would call credit (being new in the market) manage to get data prior to their inception then?

Surely they are getting data from other agencies. I don't see why experian/equifax would give data to their competitor who also happens to be undercutting them.

fermi

Callcredit are not new. They have been running their credit account database since 2002 I think?

Noddle is new, but it simply uses the Callcredit database so includes the data from that. Noddle is actually callcredit.