How quickly can lenders see updates to a credit file?

smipsy

Hi everyone!

I have an Aqua card with a £450 limit and an ASDA card with a £3000 limit. Both cards are used purely for the cashback, and always paid in full. I have them only for 5 months now (had 4 statements up so far).

Because ASDA becomes less appealing due to the reduced cashback rate, my husband will take out an Aqua card too soon(ish), so we can spread out purchases on two 0.5% cards, and so he too can build up a credit history (my £450 limit on Aqua could become a bit too small in the future, normally I used the ASDA card for anything bigger, like buying a tumble dryer).

He never had a credit card before. The reason he hasn't taken the Aqua card yet is because ClearScore says he's not on the electoral roll, which isn't true (CallCredit and MSECC have the correct data), so I'm sorting that out (they've asked for a scan of his poll card, which we've sent). I had the same problem with ClearScore (they didn't see my two credit cards either), though for me they were able to fix it without having to send anything.

We'd like ClearScore to be sorted out before applying, in hopes it gives him more chance and/or a better limit/deal.

So the question is: how long after ClearScore updates the electoral roll data can he apply for the Aqua card? Would Aqua have the access to the updated electoral roll data immediately, so he can apply within two or three days after ClearScore have "fixed" their data? Or should he wait until his next ClearScore report is in?


Bonus question: we have a joint bank account, so we're financially linked. Would me having two cards with regular payments help his Aqua application in any way, even though I only have my card for (not even) half a year?

Thanks everyone!

[Deleted User]

It depends how quick the CRA updates accounts.

ClearScore pull their data from Equifax so its them who will be updating any information.

Your financial link should make no difference to his application.

Candyapple

How long for electoral roll to show on files?

It will actually depend on the time of year you registered. From December to August local authorities publish a monthly register, known as a rolling register. The CRAs get the rolling registers each month and update the information on reports as quickly as possible, however it can still take a further 2-3 months to show on the update.

From mid-August to December local authorities will start preparing the annual register, which is for every voter in the country. During this time they will stop publishing monthly registers.

So if you register between August and November, your electoral information should show on your credit report by January the following year.

You definitely need to get copies of all 3 of your credit reports to check to see whether the info has been updated yet.

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.uk

I would wait until the data from the electoral roll is showing on all 3 files before applying for anything.

smipsy

!!! wrote: »

It depends how quick the CRA updates accounts.

ClearScore pull their data from Equifax so its them who will be updating any information.

Your financial link should make no difference to his application.

thanks for the info. I'll just wait until I can see it updated on ClearScore then!

Candyapple wrote: »

You definitely need to get copies of all 3 of your credit reports to check to see whether the info has been updated yet.

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.uk

I would wait until the data from the electoral roll is showing on all 3 files before applying for anything.

our electoral info has always been correct on Experian and Call Credit, it's only Equifax which had a problem with it, other two see that we have been living at our current address for three years.

ywlgy

My experience told me that you don't have to be on electoral roll to get an Aqua card. They will ask for proof of id and address uploaded after application to verify you. As for the limit, they increase it every 4 months. So even if you get a minimum limit 250, you can increase it quite fast, mine 250->1k in one increase. You might get very high APR, but not a problem if you always pay in full