How long it takes for banks to update new address to Experian / Equifax

harshitguptaiitr

Once we change address on our bank and credit card accounts, how long does it take for this to be reflected on Experian / Equifax portals?

Is this something that is regulated by FCA since having existing bank account at "new" address can potentially influence ability to get a new credit card.

eskbanker

I'm afraid that I don't know the answer to either of your questions but would just add that getting registered on the electoral roll at your new address should be a priority, as (anecdotally) some local authorities take longer than others when relaying this info on to the credit ratings agencies and it's a significant address verification factor when credit checks are made.

Candyapple

It would be reflected whenever the bank in question does their monthly updates to the credit reference agencies.

The FCA have nothing to do with this.

If you wanted to apply for a credit card and have just moved address, don't forget that one of the biggest factors would be that you would need to be on the electoral roll at your new address so it would match all the details you've given to the banks of your new change of address.

harshitguptaiitr

Thanks for responses.

I have already applied for getting on the electoral roll - that was my very first task.
I also updated address with banks and credit card companies as well.

I guess it would be sometime in next month when all data will be updated.

Shakin_Steve

harshitguptaiitr wrote: »

Once we change address on our bank and credit card accounts, how long does it take for this to be reflected on Experian / Equifax portals?

Is this something that is regulated by FCA since having existing bank account at "new" address can potentially influence ability to get a new credit card.

If you are a paying customer you can update the details yourself.

Anthorn

In my experience reporting of a change in personal details is almost immediate and comes sooner that the monthly financial updates.

Confusing though:
Experian for example requests that the user inform them of a full 6 years of address history which implies it's information from the user that is used to update their address history. However when you view your new address in your credit history it will include the name of the organisation which last reported it which isn't the user.
https://help.creditexpert.co.uk/help/sv635/Credit_report/linked_addresses

But really the only area in which you are likely to be affected is if you fail to inform one or more of your lenders about your change of address. They will know about it from the regular updates they receive from the CRA but they will still wonder why you didn't tell them about it and consequently a question mark hangs over your head and they are likely to ask about it.