What Do Lenders See?

FairyPrincessKimberley

I have read on here that the lenders don't see the actually score, credit reference agencies give you personally, so my question is what can they see? what detail can they get into as i can see everything from what £ i paid to my credit card that month to my very old financial associations.

mrmagooooooo

Every company that runs a credit check against you will use their own Score. The Score you see yourself is completely made up and pointless.

If you have old financial associations that are no longer associated to you get these removed asap. you can ask the credit reference agency directly to do this.

They can see your open and closed accounts, missed payments, minimum payments, amounts, fraud markers, payday loans, they can pretty much see what you can on your own credit file. they then score that accordingly with their own scoring system.

Hope that helps

YorkshireBoy

They can see everything you can see in terms of data. Some lenders do take a scorecard, just not the score the CRAs sell/give you.


They may also take other data from the CRAs, such as CII (Consumer Indebtedness Index) and CATO (Current Account Turnover), which you don't get to see.

GingerBob_3

YorkshireBoy wrote: »

They can see everything you can see in terms of data. Some lenders do take a scorecard, just not the score the CRAs sell/give you.


They may also take other data from the CRAs, such as CII (Consumer Indebtedness Index) and CATO (Current Account Turnover), which you don't get to see.

An important point. If you want to see this, you need to hit the CRAs with a SAR (subject Access Request) and pay £10 for the privilege. I expect they will make life very difficult for you if you try this on.

takman

One thing they can't see are the names of the companies that provide your credit accounts. They only see the account type e.g. Credit card, Current Account etc.

sourcrates

takman wrote: »

One thing they can't see are the names of the companies that provide your credit accounts. They only see the account type e.g. Credit card, Current Account etc.

Takman is correct,

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.

However, if you are financially linked to someone else – and your report will tell you this – then any lender checking your report may be able to view the other person’s credit history as well.

Anthorn

As above but there is an exception which is information gained about you which lenders don't see on your credit report. It is from this that some people get the idea that lenders see more than they are said to be able to see.

For example, say you make a money transfer from your credit card to your bank account. In that case your bank will know or at least have a good idea that you have a certain credit card and can then match it to information on your credit report. Then they will most likely share that information with other companies in their group of companies and subsidaries which will store the information.

sargeantsalt

GINGER BOB WROTE: "An important point. If you want to see this, you need to hit the CRAs with a SAR (subject Access Request) and pay £10 for the privilege. I expect they will make life very difficult for you if you try this on." I don't understand. What do you mean 'make life difficult'? Have you done a full SAR? What happened? What did you get back? Did they resist and demand ID. etc? Why would the CRA get upset? It is your right to SAR.