Improving Credit Rating and Experian Data Missing

strobo

Hi All,


I have a couple of questions after receiving the code from Experian today for my latest credit report.


The first one relates to data on the report. Firstly, one of my bank accounts (a Halifax Easycash account) doesn't even appear. I haven't used the account for a while - it just has a few quid in for emergencies and for those horrible online "wallets" some websites make you use (Sony for the PS3 being one) - I don't like the idea that they're linked to my main bank account so this one does the job nicely.


The second missing account is my mobile phone contract with Virgin Mobile - I have a landline with Virgin too, which appears on the report all present and correct with the right bills/payments quoted, but the separate mobile account is missing. Do Experian cherry-pick which accounts they see as relevant, or is this a genuine error I need to get rectified?


My other question is about getting my credit rating back up after a long period in the wilderness - I had a lot of problems around ten years ago when my then bank screwed me over by 'losing' the contents of my savings account when things were tight - and I'm now taking tentative steps back into the world of credit.


A change of employment three months ago has seen me become self-employed with a projected gross income of £25,000+, but things are only just turning to profit for me. It's also brought into sharp focus how much I'd be glad of a decent credit card to fall back on in case of emergencies - car hire or a hotel room if I get stuck somewhere. I applied for and got a Capital One Classic last summer, but haven't had limit rise from the basic £200 it started with. It's been properly maintained, but isn't paid-off right now - another two weeks and I hope the £100 on it will be clear.


The question is, do I apply for something like the Nationwide card via the Soft Quote thingy (£1200 @ 19.9% quoted), or try my bank first? I have the bare basics Yorkshire Bank account which has never been in the red since I opened it ten years ago; they are the ones who see the payment of my invoices, but they'll also see that my income:bills ratio hasn't been great the last three months (prior to that I was in full-time work and things looked healthier). I don't really want to take a chance on a risky option if I then have to wait for a refusal to clear from my record - as I say I'm keen to get something with a better limit, and the sooner the better so I've got that safety net, and I can bin the Capital One with its high APR.


Any advice is gratefully received, and I'm sorry if the question is a bit rambling, but I wanted to cover all the angles in one hit.


Thanks in advance :-)

Experian_company_representative

Hi Strobo,

Your Experian report will contain all the information that we hold in your name at the addresses supplied in the application. Some lenders don't share information with credit reference agencies, or they will only supply information relating to certain account types.

So it is possible that you can hold accounts that we do not have details of.

While we can't say for certain if you will be accepted if you apply for credit (this decision is always made by the lender) your report would not show whether you were accepted or not. Only a record of the search would be recorded.

It is always a good idea to limit the number of searches on your report, as these will cause your score to drop temporarily.

If you would like me to take a look at your report email your details to [EMAIL="Uksocialsupport@experian.com"]Uksocialsupport@experian.com[/EMAIL]

Regards Neil

strobo

Thanks for your reply Neil, that's very helpful.


I think I need to dig out my last credit report and see if the Halifax account and Virgin Mobile accounts were on there before I delve into this issue too much more. The Halifax account had only recently been used the last time I had a report compiled (as opposed to being relatively inactive this time), so I wonder if it hasn't been reported this time due to the lack of activity. The Virgin Mobile account not appearing is a bit strange, but it's a two year contract that's now well into its second year, so again, it may not be considered relevant.


I'd still be interested to hear from others about my chances with the Nationwide card, based on the limit/APR I've been offered (presumably it's low), and whether my bank would look at my recent low (but rising) income as a potential issue if I applied through them.