Credit Score in the early 2000's

bta001

Hi, long time watcher first time poster.
Apprecaite this is a long shot, but does anyone know when credit scores stopped being linked to the house and went onto the person. For example, i am 99% sure that in the early 2000's if my sister didn't pay her direct debits, the whole house had a bad score, not just her.
Any help would go a long way....thanks

[Deleted User]

Credit scores have never been a real concept, but have also never been generated for houses.

Your sister's accounts would have appeared on her report only. Her history could have impacted any financial associates, but her accounts would not appear on their files.

Gaz83

Was it ever? Wasn't this an urban myth?

bta001

i thought so, but i've tried looking on the internet and it seems to have happened at some point. that's why some people who rented houses in the 2000's had some problems. i belive they changed the law because of it.

Ben8282

Credit reporting was at some point linked to the address but this stopped well before 2000.

HeCh

I have a vague memory of a family member being unable to obtain an unsecured loan and being told it was because of my refusal to pay the poll tax (supporting "Can't Pay! Won't Pay!) In the late 1980s and living in the same household. No Google (or easily accessible internet) in those days to check/confirm though.

nick74

Its not a myth, either Equifax or Experian (can't remember which) did indeed used to link together the credit files of everyone who lived at a particular address.

I can put a rough date on it because I moved house with my family in mid 1996, and it must've been in earlyish 1997 when I applied for copies of my credit reports. One showed not only my accounts and balances, but also those of my parents, and even those of the young couple who had purchased my parents old house and were now living there! It sticks in my mind because I showed it to my parents and they were horrified!

I seem to recall it was the 1998 Data Protection Act which finally put a stop to this.

nick74

I've done a bit more digging and from this article it appears that even in 1999 the CRAs would still automatically assume that two people at the same address with the same surname had a financial association, until they were officially told otherwise:

https://www.thisismoney.co.uk/money/experts/article-1576567/Can-my-brother-affect-my-credit-rating.html

...normally the details of anyone having the same surname and address as you appear automatically on the screens when a search is carried out).

hunnibee_2

Makes sense why I struggle for years financially! I turned 18 in 2002 & never had a good record. I had no idea why - on the plus side, I never had much debt either.

Uberior

hunnibee wrote: »

Makes sense why I struggle for years financially! I turned 18 in 2002 & never had a good record. I had no idea why - on the plus side, I never had much debt either.

A good credit history relies on you regularly borrowing and repaying.


It amazes me the number of people who think that they have an "excellent credit history" because they don't borrow money. Truth is, they have a terrible credit history, because there is no evidence of them borrowing and repaying.

[Deleted User]

It's not "terrible" - they will have a thin credit history/credit file.

But, in most cases, they will still be given a "999 score" and "excellent rating" by the CRA's so they think everything is OK.

Then go to apply for a credit card or mortgage or mobile phone and get declined and wonder why, despite the "excellent score".