RBS doesn't share date with Credit Agencies for Account opened before 2001

TheDink84

I couldn't find any information on this so I thought I'd post what I've found out in the hope that it may be useful to others.

I knew from being declined for a mobile contract that my credit score wasn't very good.

I haven't taken credit (other than a mobile contract) for the last 10 years so I put it down to this and decided to go to my bank - RBS to address the situation. My thoughts were to get either a low APR personal loan or credit card to balance transfer the balance of my interest free overdraft over, then cancel my overdraft and use that to improve my credit score.

The APR was lower on the credit card so I applied for that. Though I was told I had a 75% chance of being accepted I was declined. The in-branch customer adviser couldn't tell me why but told me to contact one of the big 3 credit reference agencies.

This showed my credit rating to be fair with no giant warning signs other than my lack of a credit history; 18 months on a mobile phone contract.

When I called to cancel the free trial Experian brought out the big guns and I got to speak to someone who gave me great advice. He told me that the last 11 years of Current Account Data was not being shared with them by my Bank. That SHOULD have contributed to my Credit Score as I've never been charged overdraft fees and generally never go over 75% of my credit limit. RBS were not sharing my data and this is why RBS wouldn't give me a credit card. It didn't matter that they had access to my account history, they use the credit rating and nothing else. It doesn't matter that I effectively wouldn't have increased my total credit limit or that RBS would have made MORE money from me with a credit card (APR vs interest free overdraft). It's very much a case of "Computer says NO!"

I have called RBS and they report that they don't share Current Account Data (credit limit, charges etc) for ANY account opened before 2001 unless specifically told to. I've written to them to ask that they begin to do so but I can't get back the record of the last 11 years of good behaviour for my credit rating.

I've had the same Bank Account since I was a child. If you're with RBS and your Account was opened before 2001 I would strongly recommend checking that RBS are sharing this data, if you know this should work in your benefit.

happy_bunny_2

Yes. Think the DPA was different then.

I had a credit card opened in the 90s with RBS, they were not allowed to report monthly, only on the event of a default.

Best get a new bank account if you want it reported.