Credit Ref Agencies-out of control ?

peawack

When I tried to apply online for an Isa account I was amazed to find that Experian had been unable to verify my identity to the broker, and my application was declined.
On checking with Experian I found that they had not updated my file since I moved home six months ago, even though my bank assures me that all adress details would be sent to Experian on a monthly basis.
As I had updated my details with just about every agency, ie Tax office, banks, Council etc, I cannot imagine that Experian were not aware that I had moved. However, when I spoke to Experian, they informed me that 'it was my responsibilty to update my details with them'. Since when have CRA's been on a par with the Inland revenue ?
What if I had never heard of their existence ? How would I know that they had black-balled me ? While I can understand that banks and others need to protect their interests, giving the information to third party should be illegal.

ianmr65

peawack wrote: »

While I can understand that banks and others need to protect their interests, giving the information to third party should be illegal.

It would be, normally. (Data Protection) but when you apply, or get an account, you can't move forward without agreeing T&C's - in those you agree to explicitly allow them to share those details, with the CRA's
If you were to try to exclude that term, your application would fall over there and then.

I agree with the gist of your post: the CRA's are becoming a little hollier than though in their approach.
Having said this, realistically, they are not organisations you'd really want get into a fight with. They are private companies, and hold one of the major keys to your finacial life. I'd co-operate with them.

YorkshireBoy

CRA's only hold information they are given.

It was down to your Local Authority to provide the CRA's with your Electoral Roll data, and they clearly haven't done so (if you have registered with them?).

There is a way forward though...

http://experian.metafaq.com/templates/experian/main/answerPage?_mftvst:answerRef=%24http%3a%2f%2fapi.transversal.com%2fmfapi%2fobjectref%2fEntryStore%2fEntry%2fhttp%3a%2f%2fwww.metafaq.com%2fmfapi%2fMetafaq%2fClients%2fexperian%2fModules%2fCredit_report%2fTopics%2felectoral_roll%3a137380%3a0&_mftvst:moduleID=%24Credit_report&_mftvst:topicID=%24&id=LCDGQ4F2OMB22QNR7V41B5UA2C

peawack

ianmr65 wrote: »

It would be, normally. (Data Protection) but when you apply, or get an account, you can't move forward without agreeing T&C's - in those you agree to explicitly allow them to share those details, with the CRA's
If you were to try to exclude that term, your application would fall over there and then.

I agree with the gist of your post: the CRA's are becoming a little hollier than though in their approach.
Having said this, realistically, they are not organisations you'd really want get into a fight with. They are private companies, and hold one of the major keys to your finacial life. I'd co-operate with them.

Yes you're right, but I was not intending to take them on in any way, I am annoyed that there is nothing on my file to damage my application for credit yet they still managed to embarrass me. In any case,my application was not even for credit, I was buying stocks and shares ! This is really about Experian's incompetence.

Paul_Herring

peawack wrote: »

This is really about Experian's incompetence.

Have you followed up why the bank's 'alleged' updates haven't been going on your credit reference? Or why your electoral role information from the council hasn't been going on. Or why other creditor's information hasn't been going on...?

Though I must admit the 'you should inform us aswell' line does seem a little unusual, since normally the only things you do inform them about goes down as notes on your file and usually hinder credit applications....

peawack

YorkshireBoy wrote: »

CRA's only hold information they are given.

It was down to your Local Authority to provide the CRA's with your Electoral Roll data, and they clearly haven't done so (if you have registered with them?).

There is a way forward though...

http://experian.metafaq.com/templates/experian/main/answerPage?_mftvst:answerRef=%24http%3a%2f%2fapi.transversal.com%2fmfapi%2fobjectref%2fEntryStore%2fEntry%2fhttp%3a%2f%2fwww.metafaq.com%2fmfapi%2fMetafaq%2fClients%2fexperian%2fModules%2fCredit_report%2fTopics%2felectoral_roll%3a137380%3a0&_mftvst:moduleID=%24Credit_report&_mftvst:topicID=%24&id=LCDGQ4F2OMB22QNR7V41B5UA2C

That's exactly my point. I have informed every department, agency and organisation, so it is hard to understand how Experian are in the dark about my move.