Credit file and GDPR

shortcrust

sargeantsalt wrote: »

I am sure that there is a market to provide high net worth individuals with financial services that meet their needs. Assuming they are wealthy enough to never need debt and can actually afford trivial outlays such as an entire insurance premium and that they do not care too much about saving every last penny then what justification is there for CRAs keeping their info? There is no law that says sharing information with CRAs is compulsory.

This site is more geared to the typical consumer who works hard their whole life whilst up to their eyeballs in debt and thinks getting a cheaper loan is "saving". In fact the concept of "saving" money to accumulate wealth to spend on what they desire has been replaced by the obsession with improving one's credit score to accumulate debt to spend instead. They are then trapped in a viscious cycle or work and debt whilst the rich get richer.

Since when?!

[Deleted User]

sargeantsalt wrote: »

There are 1000's of people who neither need nor want credit. For those people, they should have a right to erasure so they can sleep better at night without having to worry about CRA data breaches leaking their info.

If you have a clean file with no ongoing commitments, I do not think the CRA has much justification in refusing.

Only in cases where there is bad history or outstanding obligations should the CRA be allowed to refuse.

There is an easy way to not have any data with a CRA.

Go for 6 years without a bank account, utility account, loan, credit card, not be on the electoral role, payg mobile.

Shouldn't be too hard. Think of all the money you can save for tin foil too!

Brooker_Dave

sargeantsalt wrote: »

I am sure that there is a market to provide high net worth individuals with financial services that meet their needs. Assuming they are wealthy enough to never need debt and can actually afford trivial outlays such as an entire insurance premium and that they do not care too much about saving every last penny then what justification is there for CRAs keeping their info? There is no law that says sharing information with CRAs is compulsory.

While a significant proportion of the country do rely on credit, a significant proportion don't, eg me.

Why should I then not be able to opt out of being on a CRA blacklist?

It's not like being on one of these lists is essential or necessary to my life.

sargeantsalt

camelot1971 wrote: »

There is an easy way to not have any data with a CRA.

Go for 6 years without a bank account, utility account, loan, credit card, not be on the electoral role, payg mobile.

Shouldn't be too hard. Think of all the money you can save for tin foil too!

It has nothing to do with tin foil. If you don't understand why it is a problem you should ask your Alexa!

sargeantsalt

Brooker_Dave wrote: »

While a significant proportion of the country do rely on credit, a significant proportion don't, eg me.

Why should I then not be able to opt out of being on a CRA blacklist?

It's not like being on one of these lists is essential or necessary to my life.

This is the problem. They give the impression that you are not forced to be on there so people think they have consented but if you don't want to be on there you cannot stop them.

[Deleted User]

Brooker_Dave wrote: »

Why should I then not be able to opt out of being on a CRA blacklist?

You'll need to wait for them to invent the made up blacklist before you can opt out of it.

PixelPound

sargeantsalt wrote: »

This is the problem. They give the impression that you are not forced to be on there so people think they have consented but if you don't want to be on there you cannot stop them.

If you don't want to be on there, don't use companies that report to them or any products that would be reported to them.

PixelPound

sargeantsalt wrote: »

It has nothing to do with tin foil. If you don't understand why it is a problem you should ask your Alexa!

Volunteering data from tracking your moves with constant recording with marketing side-effects is completely different to having a profile of your financial history to allow companies to risk assess you.

There is obviously the marketing side of the freeCRA reporting sites, that seem to state the only way you can use their services is to consent to marketing - this could be seen similar to the Facebook GDPR issue, but is a completely different issue to whether you should have a say on whether CRA's can collate your financial data.

sargeantsalt

nic_c wrote: »

If you don't want to be on there, don't use companies that report to them or any products that would be reported to them.

Good advice but it does not always stop you ending up on there. That is the problem.

PixelPound

sargeantsalt wrote: »

Good advice but it does not always stop you ending up on there. That is the problem.

Is it a problem? Comply with the T&C of the products you sign up to and there is no problem. People don't complain because their impeccable credit history is being reported, but because they were late, defaulted, etc and that is being reported and so affects them being viewed by new companies equally to someone with a good credit score.