Warning about Experian Credit Club data...it may not be what's in your Experian file!

phillw

Verityspinelli wrote: »

The problem with paying a membership fee and having constant access to these reports are that people become obsessed with the ‘score, even though they know that this is not what lenders will see or rely on when making decisions.

The real problem is paying a membership fee, you can get free scores if you want one.

IMO it doesn't really matter that lenders don't see them. When you're starting out I think it's useful to see that when you do certain things then your score changes.

I think of it like when I was at school they taught different ways of dividing in primary and secondary school. The people that bang on about credit scores being irrelevant would be just as well off berating their children for bothering to learn a method of division they'll throw away when they have enough experience to understand the more complicated method.

[Deleted User]

phillw wrote: »

The real problem is paying a membership fee, you can get free scores if you want one.

IMO it doesn't really matter that lenders don't see them. When you're starting out I think it's useful to see that when you do certain things then your score changes.

I think of it like when I was at school they taught different ways of dividing in primary and secondary school. The people that bang on about credit scores being irrelevant would be just as well off berating their children for bothering to learn a method of division they'll throw away when they have enough experience to understand the more complicated method.

So clearing a balance or closing account is a good thing, but the score will drop.

How is that logical or representative of what happened?

Takmon

Verityspinelli wrote: »

Actually Gary that’s incorrect, you can get a free experian account that will only show you your ‘Score’. The £14.99 is to view the full extent of what searches have been made on you and what your lenders are reporting on you.

You can get a full copy of your report directly from any Credit Agency without paying a penny.

Verityspinelli wrote: »

I agree it’s not worth paying for unless of course you are searching for something specific or want to discuss something or remove something from your report. I know you don’t have to be a member for them to do that but I think they will only talk to you on the phone if you are a member, otherwise it’s e-mails. Depends how desperate you are for action to be taken.

The problem with paying a membership fee and having constant access to these reports are that people become obsessed with the ‘score, even though they know that this is not what lenders will see or rely on when making decisions.

There is never any reason you should sign up and pay them. You can get all the information for free and they will remove any incorrect information by contacting them. I had an out of date financial association, i emailed them they emailed back a form and i filled it out then emailed it back again and then it was removed. This was all processes quickly and gone before the next report was generated without me having to pay a penny.