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Credit References
paddypuma
Posts: 46 Forumite
I just wanted to post this email which I recieved from Experian today. I had emailed them to ask why the information provided on my Experian credit report is different from that of Equifax.
"Dear Miss XXXXXXXXXXXX
Thank you for your email, which we received on 30 January 2008.
I note your comments and would advise that different credit reference agencies can hold different information depending on which lenders provide them with their information.
Some of your credit agreements may not be shown on your Experian credit report. This may be because the companies you mention do not share details of their accounts with all the credit reference agencies. Some companies only share details of accounts that have fallen into arrears.
It may be the case that some lenders will provide details to Equifax but not Experian and vice versa.
Kind regards
xxxxxxxxxxxxxxx
Consumer Service Officer
CreditExpert"
At the moment, my rating on Equifax is 'poor', which I think is probably right but my rating on Experian is 'fair', which could technicially mean that if I applied for a loan and the lender checked my credit rating through Experian, I may be offered one.
How can this be right? Surely all credit referencing agencies should hold the same information?!
"Dear Miss XXXXXXXXXXXX
Thank you for your email, which we received on 30 January 2008.
I note your comments and would advise that different credit reference agencies can hold different information depending on which lenders provide them with their information.
Some of your credit agreements may not be shown on your Experian credit report. This may be because the companies you mention do not share details of their accounts with all the credit reference agencies. Some companies only share details of accounts that have fallen into arrears.
It may be the case that some lenders will provide details to Equifax but not Experian and vice versa.
Kind regards
xxxxxxxxxxxxxxx
Consumer Service Officer
CreditExpert"
At the moment, my rating on Equifax is 'poor', which I think is probably right but my rating on Experian is 'fair', which could technicially mean that if I applied for a loan and the lender checked my credit rating through Experian, I may be offered one.
How can this be right? Surely all credit referencing agencies should hold the same information?!
0
Comments
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just to give it a bumpPROUD TO BE DEALING WITH MY DEBT NERD #869
DFD 5/1/16Numpty,Not sure why but I'm crying
. Of all the peeps on this board you're the kindest & most supportive of all & I'm :mad: & 
for you all at the same time . Wish I was there to give you a big :grouphug: & emergency hobnobs
xx0 -
How can this be right? Surely all credit referencing agencies should hold the same information?!
No. They don't have to.
They are under an obligation to make sure that the data they hold is accurate (at least as far as it matches what is supplied by the creditors), but it is not guaranteed to be comprehensive.
The letter from Experian/CreditExpert is correct.
The credit "rating" given to you by each agency isn't necessarily the same as a creditor would assess either. Often each potential lender has there own way of calculating a rating/score given their own criteria.
There are articles on the main MSE site here:
Your Credit Rating How it works and how to improve it
and
See a full list of which Credit Reference Agency each provider usesFree/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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