Lowells and JPMC setting up accounts

Reidy100

The have added the following entries on my credit rating Not sure why,  Have heard of dcas taking money from / via pay pal to pay off debts
Otherwise what are they doing on there  I didnt set them up or open them.
Many thanks

fatbelly

Lowell have bought one of your old credit cards. When you can see the entry you should be able to work out which it is because it should have the same default date.

JPMC is a new one on me. Not a new Chase account, is it?

Reidy100

I have an existing Chase account maybe the are just putting it on there havnt seen it on my credit rating before tho .. ?
Thankyou

Tony5896

Chase have also reported my account to equifax today also .. guessing they have just started reporting to them ..

figgyc

Found this thread as I got an email from ClearScore this morning saying that a new account was being added - thought it'd be the Barclays I just opened for the switch offer but no it's Chase. The account number I didn't recognise at first, but it seems they put it in Equifax's system backwards compared to most banks - 8407 is the last 4 digits of the sort code, 60-84-07, which I believe is common to all Chase users.

As it says in the report I've had my Chase since May 2023, it seems they have just decided to start reporting them to credit reference agencies. Perhaps in anticipation of the launch of overdrafts or the oft-awaited credit card? 

(One thing I'm curious on, will they be reporting the additional current accounts as seperate entries, which many use as switch mules? I can't see any in the closed section but I don't have any open right now, have some excess accounts with other banks I want to get rid of first.)

So if you have an account with Chase then I wouldn't worry about it.

Reidy100

figgyc said:

Found this thread as I got an email from ClearScore this morning saying that a new account was being added - thought it'd be the Barclays I just opened for the switch offer but no it's Chase. The account number I didn't recognise at first, but it seems they put it in Equifax's system backwards compared to most banks - 8407 is the last 4 digits of the sort code, 60-84-07, which I believe is common to all Chase users.

As it says in the report I've had my Chase since May 2023, it seems they have just decided to start reporting them to credit reference agencies. Perhaps in anticipation of the launch of overdrafts or the oft-awaited credit card? 

(One thing I'm curious on, will they be reporting the additional current accounts as seperate entries, which many use as switch mules? I can't see any in the closed section but I don't have any open right now, have some excess accounts with other banks I want to get rid of first.)

So if you have an account with Chase then I wouldn't worry about it.

figgyc said:

Found this thread as I got an email from ClearScore this morning saying that a new account was being added - thought it'd be the Barclays I just opened for the switch offer but no it's Chase. The account number I didn't recognise at first, but it seems they put it in Equifax's system backwards compared to most banks - 8407 is the last 4 digits of the sort code, 60-84-07, which I believe is common to all Chase users.

As it says in the report I've had my Chase since May 2023, it seems they have just decided to start reporting them to credit reference agencies. Perhaps in anticipation of the launch of overdrafts or the oft-awaited credit card? 

(One thing I'm curious on, will they be reporting the additional current accounts as seperate entries, which many use as switch mules? I can't see any in the closed section but I don't have any open right now, have some excess accounts with other banks I want to get rid of first.)

So if you have an account with Chase then I wouldn't worry about it.

Many thanks Figgy

Steve

CliveOfIndia

Yep, the JPMC entry will be your Chase account.

"JP Morgan Chase" is the "owning" (if that's the right word?) company.  "Chase" is their retail banking/credit card brand.

I'm guessing that since it's only relatively recently that they've started to operate in the UK, it's takes a while to get everything set up, approved and regulated before they start reporting in to the UK CRAs?

(Well, obviously they would have had to get regulatory approval before they could start offering banking services here, but I've no idea if they have to go through a separate approval process in order to report to the CRAs).