Do credit reference agencies know your income?

Andybez38

Do credit reference agencies know your income? I know your current account gets reported to the agencies. But do they give them any income details etc.

[Deleted User]

No. .

Ed-1

Andybez38 wrote: »

Do credit reference agencies know your income? I know your current account gets reported to the agencies. But do they give them any income details etc.

Income doesn't get reported to credit reference agencies.

But details off your applications may be reported to fraud prevention agencies such as National Hunter to identify fraudulent applications.

pvt

Andybez38 wrote: »

Do credit reference agencies know your income? I know your current account gets reported to the agencies. But do they give them any income details etc.

The only thing reported to CRAs by your bank is your overdraft limit and any negative balance. My current accounts all just show as £0, as I never use the overdraft facility.

CRAs are very adept at pretending that they know a lot more about you than they actually do.

Thrugelmir

Ed-1 wrote: »

But details off your applications may be reported to fraud prevention agencies such as National Hunter to identify fraudulent applications.

The whole purpose of National Hunter is to identify inconsistancies in applications made for credit.

GingerBob_3

Indirectly, they have a good idea. The banks shovel off something called current account turnover to the CRAs. This data is not placed on credit files and you'd need to shaft them with a SAR to see what they have on you. Also, you'll struggle to find anywhere in T&Cs where you've agreed to this particular element of your finances being disclosed to a third party.


Having said "indirectly ... a good idea", current account turnover is abysmally inaccurate when it comes to understanding someone's finances. So it's just another aspect of financial surveillance that can be, and will be, used against you.