Do lenders see more upto date info on credit file?

shopaholicno1

As Noddle etc only updates once a month, Im just curious if lenders get to see more up to date information on the day they perform a credit check?

I've cleared some debt a few weeks ago that's not yet showing on my various reports yet, and wondering if lenders will see it's paid off. I'm guessing there is the potential my creditor reported back to the various credit agencies, but I can't see that yet as my reports not due again for another 2 weeks?

[Deleted User]

You won't know until they update.

Some reports update in realtime - for example use GiffGaff to view your CallCredit report (the same as Noddle) and if it's updated you won't see it

Ebe_Scrooge

No, lenders can only see what you see - with the exception of your fictitious score, which they can't see. You can log on and see your report at any time.

shopaholicno1

Thanks
So callcredit, Experian etc only update the day my new report comes out?

My husband gets his 2 weeks after me, as we opened our Noddle at different tims of the month.

RG2015

Your credit reports with Experian, Equifax and Callcredit are updated every time lenders send them the information. This is usually once a month. If you check your credit report it will show the date it was updated.

Both lenders and consumers have access to the debit balances but if your current account is in credit it will show a nil balance. Credit cards will show the amount owed but this can be the statement balance on date before the data is sent to the CRAs..

If you use Noddle, Clearscore or MSE Credit Club you file will only be updated once a month. A lender is likely to have daily updates on credit files so they may be more up to date than you.

If you choose to pay for your credit file with Experian or Equifax these will be updated every day so you should see the same as lenders. However this does not change the frequency of the banks reporting to the CRAs.

bazzyb

shopaholicno1 wrote: »

As Noddle etc only updates once a month, Im just curious if lenders get to see more up to date information on the day they perform a credit check?

In theory, yes. But it all depends on what info has been fed into the CRA in the first place. If the debt that you have cleared has already been reported back to the CRA then yes lenders will see it as soon as they do a search, but if the information hasn't been des back to them in real time then it will be whenever they next receive a data feed from whatever company you have paid.

cjmillsnun

Ebe_Scrooge wrote: »

No, lenders can only see what you see - with the exception of your fictitious score, which they can't see. You can log on and see your report at any time.

Not strictly true. If you get a report once a month and a lender has updated the CRAs since then other lenders can see that as they will get a report with the position on the day they requested it.