Credit rating ruined by mistake by Equifax

Leifcov

I spoke with my bank and I know that they tend to use just Experian, and do extrapolate data from that one credit source.  With banks you're already registered with, they will look at your existing history with them.  The reason this all came to light was when I was looking for a loan recently, and did a soft search on a number of the options recommended on this site.  They all came back instantly that I had no chance of being approved.  In these instances, they do not take the time to look through the files, they will be responding to the overall picture given to them, and if that picture is bad, then it's probably safe to assume that this could be a reason I was turned down.

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Leifcov said:

I spoke with my bank and I know that they tend to use just Experian, and do extrapolate data from that one credit source.  With banks you're already registered with, they will look at your existing history with them.  The reason this all came to light was when I was looking for a loan recently, and did a soft search on a number of the options recommended on this site.  They all came back instantly that I had no chance of being approved.  In these instances, they do not take the time to look through the files, they will be responding to the overall picture given to them, and if that picture is bad, then it's probably safe to assume that this could be a reason I was turned down.

They DO take the time to look through the files, or rather their automated systems do.  Those systems are easily tailored to take into account anomalies, and where they can't (at least when you're making an actual application) they are simply sent off to a human to look at, who will be able to easily see what's going on.

My point was, if you've only just noticed this now, the likelihood that you've been impacted by this in the past is almost certainly zero.  You'd have spotted it before now if it had caused a problem.  Certainly, get it rectified but do that and move on.  Equifax didn't "ruin" your credit rating and as I said, you don't seem to have been in any way affected by this issue.