How to use credit card to boost credit score

[Deleted User]

They don't see the provider.

And ignore any "suggestions" that CRA's give you about utilisations and such.

SlovakianGuy

Deleted_User wrote: »

They can't see the name of the provider.

Are you sure?
Perhaps CRAs should start showing an additional version of your credit file as seen by lenders. I would like to see what exactly they see and what they don't.

Willing2Learn

Deleted_User wrote: »

They can't see the name of the provider.

SlovakianGuy wrote: »

Are you sure?
Perhaps CRAs should start showing an additional version of your credit file as seen by lenders. I would like to see what exactly they see and what they don't.

Having the name of the provider would be totally irrelevant as it would not help a lender to determine an applicants credit-worthiness. All a lender needs to see is how every credit account is managed.

System

SlovakianGuy wrote: »

Are you sure?
Perhaps CRAs should start showing an additional version of your credit file as seen by lenders. I would like to see what exactly they see and what they don't.

I would also be interested in this.

SlovakianGuy

Willing2Learn wrote: »

Having the name of the provider would be totally irrelevant as it would not help a lender to determine an applicants credit-worthiness. All a lender needs to see is how every credit account is managed.

I think some cards are easier or more difficult to get approved for, so in my humble opinion it would make sense to see if the applicant was "good enough" for American Express or just for a Vanquis card. After all, lenders also look what other lenders do (limit increases, closing your accounts, etc.) and take it into account, don't they?

So what do they actually see?
Just "credit card account 1, credit card account 2" or what?

[Deleted User]

SlovakianGuy wrote: »

Are you sure?
Perhaps CRAs should start showing an additional version of your credit file as seen by lenders. I would like to see what exactly they see and what they don't.

Why?

It's confidential data between the lender and the CRA - it's likely Lenders have their own bespoke systems that pulls the data through and displays it in a way they want to see it, and will therefore differ from lender to lender.

System

!!! wrote: »

It's confidential data between the lender and the CRA

It's your personal data though. and as such you have a legal right to it.

"You have the right to:

information about the processing of your personal data;"

https://ec.europa.eu/info/law/law-topic/data-protection/reform/rights-citizens/my-rights/what-are-my-rights_en

[Deleted User]

SlovakianGuy wrote: »

I think some cards are easier or more difficult to get approved for, so in my humble opinion it would make sense to see if the applicant was "good enough" for American Express or just for a Vanquis card. After all, lenders also look what other lenders do (limit increases, closing your accounts, etc.) and take it into account, don't they?

So what do they actually see?
Just "credit card account 1, credit card account 2" or what?

Being "good enough" to get an AmEx doesn't mean you're "worthy enough" for a similar product.
AmEx's are now much more mainstream and easier to get now that there is no minimum income limit etc. now, and they are not such an "ego" status as they were many moons ago.

Likewise for any other product since lending criteria differs from lender to lender.

Yes lenders will see limit increases/decreases, bad markers, promo markers etc on files when checking someone.

[Deleted User]

beany_bot wrote: »

It's your personal data though. and as such you have a legal right to it.

"You have the right to:

information about the processing of your personal data;"

https://ec.europa.eu/info/law/law-topic/data-protection/reform/rights-citizens/my-rights/what-are-my-rights_en

Yes - and you see the full "unabridged" version of what a lender sees in a statutory or free report anyway.

If anything, you are actually seeing more than a lender would

System

!!! wrote: »

Yes - and you see the full "unabridged" version of what a lender sees in a statutory or free report anyway.

If anything, you are actually seeing more than a lender would

Yeah I agree. I am just curious (as the other poster is) as to exactly what the lenders do see. and dont see.