Creditors and credit file companies

Brad89

Hi im confused with this but why do most of my creditors share my details with different credit score companies? Most of my creditors are using Noddle but when i apply for credit that company will use Experian or Equifax, where my score is really poor because i only have 3 creditors.

[Deleted User]

Different lenders report to, and search, different CRAs.

Whistler23

Which of course creates an accurate profile of you.

Hope you got my sarcasm?

Ben8282

Deleted_User wrote: »

Different lenders report to, and search, different CRAs.

This is correct and of course creates a misleading picture in many cases. My mortgage is reported only to Experian but not Equifax. My electricity provider reports only to Equifax but not Experian. Rather unsurprisingly, Experian with an established +75% repaid mortgage account on the file rate me better than Equifax.
These charged for credit 'scores' might actually mean something if they were based on complete information. Personally. I feel that all credit providers should be required to report to all CRA's so that each maintains a complete and accurate credit file.

GingerBob_3

Ben8282 wrote: »

This is correct and of course creates a misleading picture in many cases. My mortgage is reported only to Experian but not Equifax. My electricity provider reports only to Equifax but not Experian. Rather unsurprisingly, Experian with an established +75% repaid mortgage account on the file rate me better than Equifax.
These charged for credit 'scores' might actually mean something if they were based on complete information. Personally. I feel that all credit providers should be required to report to all CRA's so that each maintains a complete and accurate credit file.

Or better, have just a single, licensed, CRA for the United Kingdom. Also, ban non-credit providers such as utilities and the like from reporting. They can't be trusted and they don't provide real credit.

mrmagooooooo

GingerBob wrote: »

Or better, have just a single, licensed, CRA for the United Kingdom. Also, ban non-credit providers such as utilities and the like from reporting. They can't be trusted and they don't provide real credit.

I actually partially agree with bob! one provider would indeed be better but alas there is no chance this is ever going to happen for a multitude of reasons.

I however have no issue with utilities companies etc reporting. If there is a possibility that they could be owed money then why not. They are providing a service that you pay for after they have provided it. therefore you owe them money.

GingerBob_3

mrmagooooooo wrote: »

I actually partially agree with bob! one provider would indeed be better but alas there is no chance this is ever going to happen for a multitude of reasons.

I however have no issue with utilities companies etc reporting. If there is a possibility that they could be owed money then why not. They are providing a service that you pay for after they have provided it. therefore you owe them money.

Twelve months ago I had £12k of windows fitted. I paid nothing until the job was done and I was happy with it. I wouldn't have expected credit reporting for this work, so why utilities? Some of the time they owe me money, anyway. But the biggest problem with utilities is the complexity of contracts and associated issues that leads to mistakes (by both parties) that can very easily end up as mal-reporting.

sourcrates

GingerBob wrote: »

Twelve months ago I had £12k of windows fitted. I paid nothing until the job was done and I was happy with it. I wouldn't have expected credit reporting for this work, so why utilities? Some of the time they owe me money, anyway. But the biggest problem with utilities is the complexity of contracts and associated issues that leads to mistakes (by both parties) that can very easily end up as mal-reporting.

Agree 100% with this.

The myriad of different tariffs, added to the hugh amount of errors that occur with customers billing, means you can end up with a bad credit rating through no actual fault of your own, and very little recourse for getting incorrect information corrected.

Brad89

Is there anyway of getting that info of my creditors and balances changed to experian?

Nebulous2

Brad89 wrote: »

Is there anyway of getting that info of my creditors and balances changed to experian?

Use different companies, who do report to Experian?