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MSE own credit club vs paid for experien?
thisisthecount
Posts: 90 Forumite
Ok so wondering whether I am worth cancelling my paid for Experian service or stick with MSE club? What’s the difference?
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Don't pay for any credit files. Use the free versions. The stuff you need is the same.0
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The MSE Credit club Experian report is updated once a month whereas the paid for Experian report is updated every day. It may even be updated every minute or perhaps every time you log in but you would be able to find out if it was important for you.thisisthecount wrote: »Ok so wondering whether I am worth cancelling my paid for Experian service or stick with MSE club? What’s the difference?
What is also true is that lenders such as banks and building societies generally only update balances to Experian (and Equifax and Callcredit) once a month. Therefore the paid for report may still be one month out of date.
It is different with searches on Experian which will be updated daily (or maybe every minute).0 -
You don't gain anything having the paid for account, any advice they can give you can be found here for free
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Ooo very George Berkeley. Does it update when you are not logged in to check? :rotfl:The MSE Credit club Experian report is updated once a month whereas the paid for Experian report is updated every day. It may even be updated every minute or perhaps every time you log in but you would be able to find out if it was important for you.0 -
The MSE Credit club Experian report is updated once a month whereas the paid for Experian report is updated every day.
That explains why when I compare them they are always different - sometimes radically so. Do you know what day of the month the credit club is updated or is it different for everyone?0 -
If you log in to MSE Experian, the last and next update dates are shown on the report. Make sure you check the dates on the credit report tab as these are different to the dates on the dashboard tab.That explains why when I compare them they are always different - sometimes radically so. Do you know what day of the month the credit club is updated or is it different for everyone?
This however, is further complicated by the banks all updating Experian on a different date each month. It is possible that Experian on MSE is updated on the 6th June but a bank only updates Experian on the 7th June. Hence you will only see this on 6th July on MSE Experian.0 -
That explains why when I compare them they are always different - sometimes radically so. Do you know what day of the month the credit club is updated or is it different for everyone?
What's different?
If you mean the score/rating then you can safely ignore all that.
The data and accounts etc. on the files should be nigh-on accurate between the two0 -
That explains why when I compare them they are always different - sometimes radically so. Do you know what day of the month the credit club is updated or is it different for everyone?
Most people only need to look at these things occasionally, instead of getting wound up to more than once a month.
It's not a spot the difference competition. Relax and follow the advice of zx81 in post 2.
Anything that becomes more urgent, such as a suspicion of identity fraud, can be done with one-off reports for £2 each firm. But don't do that every month either.0 -
The data and accounts can be up to 30 days out of date when comparing MSE Experian and Experian Credit Expert. But equally Credit Expert can be 30 days out of date if the bank hasn't updated Experian.What's different?
If you mean the score/rating then you can safely ignore all that.
The data and accounts etc. on the files should be nigh-on accurate between the two
In practice this is unlikely to be important but some people may disagree that 30 days out of date is "nigh-on" accurate.
However, if someone is applying for a credit card and the bank checks Experian they may not see that the applicant took out two credit cards with other banks in the last few days. This in turn may influence their decision to offer a card to the applicant.
Please note that I am assuming that the monthly update available to consumers is the same when a bank buys Experian data. It may be that banks can buy more up to date information but this requires that banks inform Experian more frequently for reports that are supplied to banks and this sounds unlikely.0
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