Unfair credit score

pvt

Clairetee wrote: »

I have spoken to my bank, and now have a letter that clearly says
'the credit reference agency Equifax were used to provide your individual 'score' which we will use as part of our assessment. Your score did not meet the required level for us to approve your application, Details of your individual score and the information on which it is based are not disclosed to our staff and can only be viewed by requesting a copy of your personal credit score from the credit reference agency.
So are you telling me that the bank are lying to me ?

Read it again, carefully. It does not say they used a score provided by Equifax, it says they used Equifax to provide your individual score. It is very clumsily worded, but they used the data that Equifax hold about you to generate the score using the bank's own methods. As others have said, the fanciful number that Equifax and Experian charge you for is made up by them and does NOT get passed to the banks or to others checking your credit file.

DCFC79

Clairetee wrote: »

They use the word 'score' three times, i've spoken to the bank and they confirm the score was provided by Equifax and I should fix it before applying again.

Now can anyone give me concrete advice on dealing with the Equifax issue which is what I have asked for instead of telling me that the bank are 'wrong'

The bank are wrong full stop.

The banks, lenders even the guy working in corner shop cannot see your score, only you can see it.

Any mention of "score" in the letter is referring to the score the bank got from the data you provided in the application.

If you want to carry on believing you have an unfair credit score then fine that's your choice.

Ben8282

Clairetee wrote: »

The bank told me It was my credit score, they told me everything else was perfect. It was the lowest amount loan and didn't require any evidence of earnings etc.

I can quite believe this. I was told by a bank a couple of years ago that my loan application had been declined by Experian.
Assuming that the banks are not in fact now allowing the CRA's to make their lending decisions for them, I think this is what the staff are told to say to customers perhaps to pass the blame elsewhere.
Are you sure it was the address problem which caused the loan to be declined? I believe it is possible for banks to do an electoral roll check themselves independently of any credit check. Do you have a history of payday loans?