MSE News: Are you financially attractive? 2 March 2016 at 5:56PM in Credit File & Ratings 6 replies 1.3K views

MSE_Luke

Test whether your credit history is good enough to turn lenders on...

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'Are you financially attractive?'

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[Deleted User]

I recently had card rate taken down by a sub prime credit card company - I am not sure I am the tastiest proposal though!!

An online retailer lets me pay 14 days after delivery now they have brought in Klarna! Which feels like a form of credit entrustment without the hassle and is a very big step forward in abolishing what may have caused credit needs? So I think it's amazing.

torbrex

Why is Martin so shocked that people don't check their credit file?

There are people in the real world that have no need to borrow money, they live their lives in the true meaning of credit (positive balance), always pay their bills on time and possibly most important, don't care about their 'credit' score.

MABLE

I check mine on a regular basis and I noticed with Clearscore they had included an unauthorised search on my file. Apparently this was due to problem in their computer dept. After complaining I got £50 in compensation and £20 CIFAS registration. In my case it paid to check my report carefully.

GingerBob_3

I think the issue here is that the vast majority of people live in blissful ignorance of the existence of credit reports and the "industry" behind it. They only get to know when they apply for a mortgage, or if they are a victim of mal-reporting.

Payne's_Grey

I can certainly attest to the importance of checking credit files regularly. This week I tried to get an AiP from my bank, having found a property I would like to offer on...although I checked my score a couple of years ago and everything was fine, when my mortgage advisor ran the necessary checks, he identified a problem with my credit file!
I checked online with Experian and it looked perfect...but for the fact Bradford & Bingley/Mortgage Express had failed to close down my old mortgage account when they sold it to Chaconia Mortgages in May 2015. I sold this property in July 2015 and Chaconia mortgages closed their record with the necessary credit reference agencies.
Experian advised to get in touch with Bradford & Bingley, who won’t do anything until they receive written confirmation from Chaconia Mortgages (whose administrator is Engage Credit) and won't ask for this themselves. I can't see what responsibility Chaconia Mortgages has to provide written confirmation when they were sold the mortgage outright? Surely Bradford & Bingley should have closed the mortgage when they sold it on to pay their debts?! (They obviously had to keep records on file for a certain amount of time, just in case this was needed by Chaconia Mortgages, but surely this shouldn’t have prevented them closing the mortgage?)
Do I have any redress against B&B, since their error has adversely affected my credit rating/ impeded the purchase of a new property until they can rectify the status on my credit file?

Brooker_Dave

Perhaps if banks started jumping through hoops to get our business, rather than the other way around?

It's not as if they've not had enough taxpayer handouts...