"white data" stop or not?

mapalongaman

I have read this paragraph in one of your guides;

[FONT=Arial, Helvetica, sans-serif]‘Black data’ has always been shared by financial companies but until last year ‘white data’ was only provided by some. Now all share the information, where they have customer consent, meaning that each now has access to all data about you from other organisations.
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I tend to pay my card off each month, as such I would imaging that "white data" on my would hinder my chance of a 0% apr deal.

Question: Can I request my current card provider (MS Money) to stop supplying this data to other organisations (after all you say "with consent")? If so, how? Would me preventing this information from being passed around, adversly effect me?



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jonnyb

I expect the card owner has T&Cs that allow them to share your data, so the only way to stop them reporting on you would be to go somewhere else. But if they all do it, the the simple answer is NO.

YorkshireBoy

mapalongaman wrote: »

[FONT=Arial, Helvetica, sans-serif][FONT=Arial, Helvetica, sans-serif]I tend to pay my card off each month, as such I would imaging that "white data" on my would hinder my chance of a 0% apr deal.

On the contrary, 'White data' will show other lenders you are adequately managing credit facilities and will therefore increase your chances of a 0% deal.

[FONT=Arial, Helvetica, sans-serif]Question: Can I request my current card provider (MS Money) to stop supplying this data to other organisations (after all you say "with consent")? [/FONT][/FONT][/FONT]

No, because you gave them permission when you signed up to their T&C's.

Since 1998, most (all?) providers have reported 'white data'. Some accounts (I have a couple) opened before this date are not reported. However, it will be written into these T&C's that if I fail to manage the accounts well, then the lenders reserve the right to start reporting 'black data'.

AngelaOU

YorkshireBoy explained it the best, No.

nopot2pin

AngelaOU wrote: »

YorkshireBoy explained it the best, No.

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