MoneySaving Poll: When did you last check your credit file?

Candyapple

torbrex wrote: »

Are you telling me that the person on the phone from NS&I was lying to me then?
She said she was going to ask me 3 questions from my credit file that I should know the answers to so that she could verify who I was.

I know what was said to me, my question to you is 'How is it that you seem to know different?'

I'm guessing you were probably asked something along the lines of;

What year did you open XX Bank Account?

How long did you live at XX address for?

Do you have any financial associates?

What is the name of your mortgage provider (assuming you have one)?

pinmoney wrote: »

The first i was aware of "credit score" having any effect on me was when we last bought/sold our house some 15 ish years ago when it was described by the financial adviser at the building society as "really very good". Since then, it seems to have grown as an "industry". As I understand it the only reason to be aware of your "credit score"(as something to "worry" about) is if you want to take out a loan or mortgage or enter into a long-term monetary agreement - and even then each moneylender organisation has their own criteria. Can anyone give me a really good reason why i should "worry" about mine? Sorry if that sounds naive, but I do think that "credit score" is an artificial and totally bogus standard.

You are correct in that there is no such thing as a credit score, it is just a number made up by the credit reference agencies - no lender will ever see it and they hope it encourages you to spend more money on a monthly subscription to either see that number increase or make sure it stays the same (if it's a high number).

You should at least check in on your credit reports annually, if anything to verify that:

a) All your details are correct and companies are reporting correct data about the running of your accounts
b) You are showing as being registered on the electoral roll
c) That nobody has stolen your identity and taken out accounts in your name

The 3 credit reference agencies are Experian, Equifax and Call Credit.

Equifax and Call Credit allow you to check your credit reports for free.

https://www.clearscore.com/ (Equifax)
https://www.noddle.co.uk/ (Call Credit)

phillw

pinmoney wrote: »

Can anyone give me a really good reason why i should "worry" about mine? Sorry if that sounds naive, but I do think that "credit score" is an artificial and totally bogus standard.

This poll has nothing to do with your "credit score".

Your credit file is a collection of financial details about you, which can contains mistakes or defaults you weren't aware of. You should worry about that.

G6JPG

phillw wrote: »

[]
Your credit file is a collection of financial details about you, which can contains mistakes or defaults you weren't aware of. You should worry about that.

Should someone not intending to borrow anything (including buy on credit, of course, such as a fobile moan "contract") worry?

Consumerist

G6JPG wrote: »

Should someone not intending to borrow anything (including buy on credit, of course, such as a fobile moan "contract") worry?

Your credit file can affect whether or not you get a mobile phone contract or, in fact, any contract involving credit e.g. energy, insurance . . . if they involve monthly payments or payments in arrears.

preable

Ive never checked mine