Halifax current account not on credit files.....

dazzaofdagenham

I've had my halifax current for about 20 years, think it was called a maxim account first off.

What I've notice is that this account doesn't appear on any CRA file I have received from experian etc..

However newer accounts with halifax ( reward accounts ) etc do appear on CRA.

As the 20 year old one is my main account should I be concerned about this

fermi

Can't recall the precise year, but it has only been in the last 10 years (ish) that most banks have started routinely reporting current account data every month for newly opened accounts.

Older accounts opened before that change often do not show.

So that could be the case here.

YorkshireBoy

fermi wrote: »

Can't recall the precise year, but it has only been in the last 10 years (ish) that most banks have started routinely reporting current account data every month for newly opened accounts.

Older accounts opened before that change often do not show.

So that could be the case here.

It's 1998, coinciding with a revamp of the 1992 DPA. It'll be covered in this Experian document (sorry about the long link...for some reason I can't shorten it!).

http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&cad=rja&uact=8&ved=0CFEQFjADahUKEwjm7YmktofHAhUM7RQKHeB6A2U&url=http%3A%2F%2Fwww.experian.co.uk%2Fwww%2Fpages%2Fdownloads%2Fcompliance%2F08por-version31.doc&ei=qn28VebwHIzaU-D1jagG&usg=AFQjCNHGooZkyw6jq7JctE4CQFbTPnkaCA

YorkshireBoy

dazzaofdagenham wrote: »

As the 20 year old one is my main account should I be concerned about this

I wouldn't think so. You must have other long held accounts reporting to the CRAs?

fermi

YorkshireBoy wrote: »

It's 1998, coinciding with a revamp of the 1992 DPA.

Definitely later than 1998 - although that may have been an enabling factor.

At least as a routine thing anyway.

The SCOR document (which I should have thought to check) does confirm:

[FONT=Verdana, sans-serif]A revised version of the PoR was ratified at SCOR in March 2003. The changes included certain commitments around the sharing of an agreed [/FONT][FONT=Verdana, sans-serif]minimum level[/FONT][FONT=Verdana, sans-serif] of positive data for the current account, where an organisation wishes to access data under the terms of Section 6 (previously known as Appendix 1). [/FONT]

Direct link here BTW: http://www.scoronline.co.uk/sites/default/files/por_version_36.pdf

Which tallies with the about 10 years ago date I had in mind for it becoming more or less routine.

As said here from 2006

Experian_company_representative wrote: »

Banks are gearing up to share current account data through the credit reference agencies to aid responsible lending, but this will only show overdraft balances and limits, not credit balances. The Experian leaflet 'Your credit report explained' - available to download from www.experian.co.uk/consumer - explains this in more detail.

YorkshireBoy

I think "routine" may be the key word.

I remember researching it (I did think thoroughly, but maybe not!) a good while back (indeed, I responded to another thread started by the OP 4 years ago...which came up on a quick google just now) and banks were re-writing/re-issuing T&Cs around 1998 to give them the option - should they choose - to report positive (so-called 'white data') account conduct.

fermi

Yes, I wasn't suggesting no data under any circumstances was or could be reported before.

I just remember when I joined this forum in 2007 that it was just becoming "routine" or had done a short while before.

Experian_company_representative wrote: »

Banks can't share information on accounts opened before they began collecting consent to share full data with the credit reference agencies. The timescales vary but this largely relates to accounts opened before 2001. This may soon change though as the government is due to consult on a legal fix to allow firms to share this historical data in a bid to improve lending decisions and avoid debt. So details of these accounts may well appear on your credit report in the future.

Experian_company_representative wrote: »

Some banks haven't historically shared information on all customers, just on those whose accounts were in arrears. But many are doing this now, or have plans to do so soon. But they can only share full information about customers who have given consent for this and many banks only started collecting this type of consent a few years ago. The government is expected to consult on possible new legislation to allow lenders to share all of this historical information because it's in the public interest, but in the meantime there will be some unavoidable gaps I'm afraid.

So obviously a progressive thing regarding consent under the DPA, and then modifications brought in by SCOR, then more widespread routine adoption in around 2006/7.

Useful, as I was trying to remember the other day, but did not have motivation to do the digging required.

All said and done though, looks like an account opened 20 years ago may not be reported unless extra consent has been obtained at some point. Defaults and the like excepted, as they can be reported under the legitimate interest provisions no matter what.

starM

I opened up Halifax account around 1996 - It was a cardcash account which changed over to Maxim in 1997 if I remember correctly. My account always showed up on credit report.

I also opened FD & HSBC around 1998. These are not showing on my credit report.

PaulW922

It depends on the T&Cs - if they did not allow for reporting - and back then they may not have done - then the bank would not have been able to report. Even though T&Cs have now changed for many it might be that the reporting was never updated. If you ask they may start doing it.

stclair

The privacy statement on Halifax’s terms and conditions says that information may be disclosed to external agencies, not that it definitely will be disclosed.

dazzaofdagenham

To be honest I'm not that fussed..

I have all that I need financially and it was just something that I noticed