Credit Report - Positive Balances

plunt

Found it interesting logging onto my noddle account... One of my cards (Halifax) has a positive balance due to a refund i got a month later. anyways ended up with £50 positive balance which i wont use till i travel again.

Found it strange that the positive balances shows on the report as typically no positive balances would ever be shown for current accounts!

GingerBob_3

plunt wrote: »

Found it interesting logging onto my noddle account... One of my cards (Halifax) has a positive balance due to a refund i got a month later. anyways ended up with £50 positive balance which i wont use till i travel again.

Found it strange that the positive balances shows on the report as typically no positive balances would ever be shown for current accounts!

A sign of things to come, perhaps? The CRAs have long wanted to have your assets as well as your liabilities showing on their reports.

YorkshireBoy

GingerBob wrote: »

A sign of things to come, perhaps? The CRAs have long wanted to have your assets as well as your liabilities showing on their reports.

Egg Money cards were showing positive balances 10 years ago - when they were paying 4% AER on up to £99,999.99 - so nothing new.

plunt

ah, way before my credit card days but thanks for the info, man i would love 4% on up to 99k !

GingerBob_3

YorkshireBoy wrote: »

Egg Money cards were showing positive balances 10 years ago - when they were paying 4% AER on up to £99,999.99 - so nothing new.

I guess the CRA systems are not sophisticated enough to deal with this. While they can handle current accounts by reporting the balance as zero, the assumption seems to be that credit cards can't be positive anyway, so there's no need to process the figure down to zero. Poor system design, unless there's some other reason for it.


As I say, one of the Experian Reps on here is on record as saying he thinks asset data should be included in credit reports.

Anthorn

plunt wrote: »

Found it interesting logging onto my noddle account... One of my cards (Halifax) has a positive balance due to a refund i got a month later. anyways ended up with £50 positive balance which i wont use till i travel again.

Found it strange that the positive balances shows on the report as typically no positive balances would ever be shown for current accounts!

On credit reports for bank accounts only the available credit, i.e. the overdraft limit, and how much of it you've used is shown.