Are 0% credit card providers able to check your employment details?...

sharlywarly

Hi everyone,

I wonder if anyone might know the answer to this........

When I asked the credit reference agencies recently whether potential credit card providers would be able to see activity on my current account I was told no. Do they actually check the employer's details that you give on your application or is it taken on trust? I ask as I thought it seemed quite quirky that without being able to see your income on your current account then your ability to pay your balance seems to be taken on trust.

If anyone knows if they really do make sure that you are employed and check with the company I'd love to hear from you.

Many thanks.

Tixy

Sometimes lenders will ask for paperwork/evidence of information you have put on your application. Not often but it does happen.

They also check the national hunter database to look for inconsistencies.

They also know that relatively few people are willing to commit fraud by lying on their application.
If a person has been found out committing such fraud in the past then they will know this from the search of CIFAS they carry out.

Your ability to repay is judged not just on trust but also on past history on your credit file. If you don't have much past history to repaying commitments then you are more likely to be asked for further paperwork and more likely to be given a lower limit initially.

GingerBob_3

At least one CRA - CallCredit - now hold data about you which doesn't appear on credit reports. This is the current account turnover data, supplied to them by the major banks. Of course such data can be very misleading and often will not reflect salary or net worth at all. However, the lenders may take this data, shovel it into the cauldron of witches brew, otherwise known as their "assessment of your credit worthiness", and out will pop their decision.

Can you get your hands on this turnover data? I expect you'd have to file a subject access request with the CRA.

Hazzinho

You may potentially get CIFAS markers of on your file. I wouldn't recommend it, salary is a huge factor, you'd borrow what you can't repay.