Will an Aqua card compromise my profile for a better card later?

[Deleted User]

That's on YOUR credit report. You can see it, but lenders can't.

details

If anyone else has knowledge/views, please do put them. It was intended as a question to elicit various people's reactions; what one person knows, another may not, so the more feedback, the better. Ta!

details

Well well. This is what Experian says about the names of lenders showing on your credit report, when other lenders search it:

"The credit report you see is more comprehensive than the one lenders look at (with your permission of course) because only you see the actual names of your current and past lenders. You also see a record of all the searches of your report, regardless of the reason, whereas lenders usually only see searches carried out for credit-granting purposes."

If that is true for Experian, CallCredit and any other CRA, then it suggests zx81 is right on new prospective lenders not being able to see the names of existing lenders you're with.

That said: if new lenders can see searches on your report for credit-granting purposes, I guess they'd be able to see a search by Aqua, and would connect that to you having a new (otherwise unnamed) card on such and such a date?

Can new prospective lenders see any other identifying info like the interest rate you're paying on card x (if you have borrowing)? Just wondering...

Anthorn

We would have to be lenders to see what lenders see. Conversely if we are not lenders we don't know what lenders see. Do we accept Experian's word?

On my Noddle report I have "Newday LTD - Aqua" and on my Clearscore report I have "Newday - Aqua".

Getting back to the OP Aqua never damaged my credit history from 2008 to the present. Quite the reverse in fact. My only regret is that I'm dumping them but needs must.

bigadaj

details wrote: »

If anyone else has knowledge/views, please do put them. It was intended as a question to elicit various people's reactions; what one person knows, another may not, so the more feedback, the better. Ta!

Yes, they see everything, including your internet history, so be careful.

details

@bigadaj - you make them sound dodgy!

glentoran99

They do not see names, the see credit type and limits and spending history,


Same for searches, they see what the search was for, not who it was by

details

It sounds like the name Aqua wouldn't come up in the lender's search, then; or the interest rate they are charging you (which could be high, after the 0%-interest-on-purchases period).

However, going back to my original post, if I then want to apply for a balance transfer card, in 4-6 months' time - on the basis that hopefully I will be able to knock down my balances quite a bit by then (increasing my prospects of getting a BT card) - would the fact that I had recently got another card (the Aqua one) count against me? Previous to this, the last time I had a new card was about 2 1/3 years ago.

Obviously, the Aqua card would show up on my record as a card with a v low credit limit, so it would not be seen as another card that could be used for a balance transfer.

PaulW922

There seems to be a lot of argument over something here which is, if I may say, beyond doubt. When you view your own file you see the full picture - lender, contact details for them etc. When a potential new lender undertakes a search, they see that you have a specific product such as a credit card, catalogue, mobile phone contract, mortgage, current account etc. They see the account opening date, credit limit, payment history etc but they do not see the name of the credit provider.

That means that opening an Aqua card account and managing well will have a positive impact on your credit profile.

Anthorn

PaulW922 wrote: »

There seems to be a lot of argument over something here which is, if I may say, beyond doubt. When you view your own file you see the full picture - lender, contact details for them etc. When a potential new lender undertakes a search, they see that you have a specific product such as a credit card, catalogue, mobile phone contract, mortgage, current account etc. They see the account opening date, credit limit, payment history etc but they do not see the name of the credit provider.

That means that opening an Aqua card account and managing well will have a positive impact on your credit profile.

Let's look at this in a little more detail: The CRAs know the names of cards and lenders who provide us with credit. If they don't know how is it that they can put them on our credit reports? Now lenders pay a subscription for the software used to search and access credit reports. But to my mind if they don't get the names of cards and lenders on credit reports they are not getting the full service. I think that if I was a lender I would be peeved about it.

I'm not saying that lenders do see the full information. But I think that saying they do not see it is far fetched. I would believe it more if I was told that they do see it but it's irrelevant. But there is no evidence either way. The uncorroborated statement of a CRA is not evidence.