Equifax vs Experian

nearlyretired2004

Wanted to do a quick check of my credit report, but apparently I've already used the Experian free trial !! (dont remember doing so....maybe I just did it for cashback years ago and didnt even read the report..!!)

Do Equifax and Experian both contain the same information ....surely they should ....?

Something told me Experian was 'better' ....but I'm not sure where I got that from.

Anyone used both and any views .... ?

Thanks as always.....

molerat

What about Noddle (CallCredit)?

TrustyOven

Just do the £2 statutory report?

Probably be prepared for some heavy marketing to take place, to try to hook you into the monthly fees etc. Just be firm and say you just want the statutory report. Only the statutory report. They will give you a load of text about why you should agree to get the monthly fee service, how good it is for your identity checks, fraud prevention etc. Just keep being firm and say you just want the statutory report.

Should cost you £2 (but please check). Pay by debit card. Sorted. Emails the report, or get it via post.

masonic

nearlyretired2004 wrote: »

Do Equifax and Experian both contain the same information ....surely they should ....?

They contain broadly the same information, but there can be differences (especially around recorded searches for obvious reasons). I just use Noddle and (very) occasionally order a statutory report, alternating between the other two.

badger09

In my experience, different institutions report to, and seek credit check info from, different CRAs so they contain slightly different information.

It will cost only £6 to obtain your statutory report from Call Crefit, Equifax and Experian.

Money well spent IMHO

nearlyretired2004

Thanks all...... after posting I did more searching here and found reference to Noddle (CallCredit) and also someone who mentined that CallCredit actually fell between Experian and Equifax in terms of popularity rather than being 3rd.

So.... signed up for Noddle

5/5 and what looks like a pefect history (in terms of accounts and credit) which I what I had hoped....

WOW huge number of searches after comparethemarket type insurance quotes etc. though.....!! However, don't think these these have any detrimental effect?

YorkshireBoy

nearlyretired2004 wrote: »

However, don't think these these have any detrimental effect?

Correct, because they aren't seen by anyone but yourself and the CRA (and the organisation making the search I believe, ie they can see their own searches but not those made by others).

badger09

What exactly are you looking for?

5/5 or 95/100 or Good/Excellent on a 'credit report' is irrelevant

Each bank/credit card provider etc will have their own internal scoring system, which will be based on the information recorded in your credit file, not on the opinion of the CRA:cool:

The only way to confirm the accuracy of that information is to obtain your statutory credit reports and check them yourself

tigerspill

badger09 wrote: »

What exactly are you looking for?

5/5 or 95/100 or Good/Excellent on a 'credit report' is irrelevant

Each bank/credit card provider etc will have their own internal scoring system, which will be based on the information recorded in your credit file, not on the opinion of the CRA:cool:

The only way to confirm the accuracy of that information is to obtain your statutory credit reports and check them yourself

Exactly right. Our company uses them and we have all our own processing rules based on the detailed data returned to make decisions.

nearlyretired2004

(cant edit subject, but also addressed to Masonic given my last question below and the fact that you occasionally order a statutory report ....)

Never having looked at it guess I was really just trying to see that it looked reasonably accurate.
Could see that all credit agreements (interest free over 12 to 48 months) were correctly reflected ....all showing as no missed payments, mortgage - the same - and all current accounts flagged as OK and no markers which is what I would expect.

Also ran one for OH, who doesnt (need to) run a credit card and hasnt had any credit agreements and although there was nothing detrimental in her report she, as expected, only scored 3/5

Given that all the above is accurate as far as I can see with nothing missing and nothing extra that I wouldnt have expected to see.... i.e. it looks EXACTLY as I would expect it to, what extra info would I gain from the statutory report ??

tigerspill

nearlyretired2004 wrote: »

(cant edit subject, but also addressed to Masonic given my last question below and the fact that you occasionally order a statutory report ....)

Never having looked at it guess I was really just trying to see that it looked reasonably accurate.
Could see that all credit agreements (interest free over 12 to 48 months) were correctly reflected ....all showing as no missed payments, mortgage - the same - and all current accounts flagged as OK and no markers which is what I would expect.

Also ran one for OH, who doesnt (need to) run a credit card and hasnt had any credit agreements and although there was nothing detrimental in her report she, as expected, only scored 3/5

Given that all the above is accurate as far as I can see with nothing missing and nothing extra that I wouldnt have expected to see.... i.e. it looks EXACTLY as I would expect it to, what extra info would I gain from the statutory report ??

So is it Experian/Equifax/Noodle that is giving the 3/5 and 5/5 "scores"?

If it is, I dont understand how that can mean anything. Each company making a credit check is looking for different things. What is a "good" result for one can be a "bad" result for another.