Credit rating.. Dropped with no cause

YorkshireBoy

What's perhaps most worrying is that the OP has been paying nearly £15 a month for this Equifax 'service'...and would presumably have continued to do so had this issue not raised it's head?


£180 a year for a number!

thebritishbloke

ilikewatch wrote: »

So, according to your signature you believe that a CRA credit score is randomly generated?

If I signed up to a CRA subscription service and had an approximately median credit score of 500,and over the following month the ONLY factor that changed was that I was bankrupted do you think that it would be equally likely that my score would increase OR decrease by the next months score?

I'm pretty damn certain that in the above scenario my credit score would decrease, reflecting that I was bankrupted and indicating that CRA credit scores are NOT random...

Based on your post history I'm going to give you a credit score of 3 HobNobs and a brown banana.

That's about as useful as CRA credit scores are. Lenders never see them, they don't have all the information that a lender would have access to (salary etc). A friend of mine who has absolutely zero credit history had a higher score than me, who has 3 years of low-utilisation, on-time payments. Yet when he applied for a card that I already have, he got rejected, shocker!

YorkshireBoy

thebritishbloke wrote: »

...they don't have all the information that a lender would have access to (salary etc).

Experian, as well as being a credit reference agency, also has a fraud prevention arm*. When you apply for credit your salary details are shared with fraud prevention agencies.


How can you be so sure that these two 'arms' of Experian do not share this salary information?


* http://www.experian.co.uk/identity-and-fraud/products/hunter.html

GingerBob_3

YorkshireBoy wrote: »

Experian, as well as being a credit reference agency, also has a fraud prevention arm*. When you apply for credit your salary details are shared with fraud prevention agencies.


How can you be so sure that these two 'arms' of Experian do not share this salary information?


* http://www.experian.co.uk/identity-and-fraud/products/hunter.html

I'm guessing it would be illegal for them to do so, but who knows?

Yes, Experian are world leaders in privacy dismantling, but the only access they have to your salary data is via current and previous applications. I suspect they also monitor so-called current account turnover, but I'm not sure on this. Their website mentions about home telephone number checking: I doubt they have access to ex-directory stuff, and I always put bogus phone numbers on my credit applications; none have so far been refused.

Experian also imply they have access to the Royal Mail Postal Redirection database. I would be VERY surprised if they did.

I would also be VERY surprised if the Experian rep came on here to confirm or deny any of this.

Pmc2k24

The boss.. Thanks for the info.. Maybe you should suggest to mse that they should rename the forum to exclude the word 'rating' to placate you

Yorkshireboy.. Yes I am happy.. Been warned multiple times about incorrect credit reports via the warning service.. Including bt claiming that I had missed 3 payments when I had not..

Anyways.

The_Boss

Pmc2k24 wrote: »

The boss.. Thanks for the info.. Maybe you should suggest to mse that they should rename the forum to exclude the word 'rating' to placate you

Yorkshireboy.. Yes I am happy.. Been warned multiple times about incorrect credit reports via the warning service.. Including bt claiming that I had missed 3 payments when I had not..

Anyways.

I've done so and I've also called for clearly contradicting articles to be edited - both of which the team have ignored.