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Bank accounts not appearing on credit history
Mangoooos
Posts: 2 Newbie
2 bank accounts and 1 credit card are not showing on my credit rating. This is across the board with Experian and others. Who should I contact to rectify?
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Comments
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Your banks/card issuers... the CRAs simply present what's being reported to them0
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Thanks for the response. It seems strange that they’re not already. Why would this be? I’ve had one of my accounts since I was 18 (I’m now 42!). So I just need to contact the bank and request that they share my information with TransUnion?0
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You'd simply complain that they arent sharing the details with the CRAs, I wouldn't pick a particular one given you say it's across the board. Presumably you do have an overdraft on the account for there to be credit for them to report on?1
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Way back when, it was not uncommon for some financial institutions not to report to the CRAs (must admit, I'm not even sure how long the CRAs have been around for). So it's quite possible that this is the reason for at least one of your accounts - new customers will get reported to the CRA, but older customers (by which I mean the length of time you've had the account, not your actual age) may well not get reported.Mangoooos said:I’ve had one of my accounts since I was 18 (I’m now 42!).
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Experian as an idea started in around 1826 as a means of merchants sharing data but the modern history is from the 1960s and has been in operation as it is, from the 1980sCliveOfIndia said:
Way back when, it was not uncommon for some financial institutions not to report to the CRAs (must admit, I'm not even sure how long the CRAs have been around for). So it's quite possible that this is the reason for at least one of your accounts - new customers will get reported to the CRA, but older customers (by which I mean the length of time you've had the account, not your actual age) may well not get reported.Mangoooos said:I’ve had one of my accounts since I was 18 (I’m now 42!).Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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There was no provision in the contractual terms when you originally opened the accounts for the data to be shared. Credit agencies for retail customers didn't exist either. Non disclosure is a historical legacy.0
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I have two accounts and credit cards opened 25 years ago. They don't show on my credit report either. I prefer accounts do not show up.
I think they will start sharing the data if you take another ctddit based product out with them.
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