Do credit rating reports give family information?

mumbleman

My sister recently applied for a phone and got turned down for having a bad credit rating (even though she's never been in debt) When she got her credit report she found that all my card limits and money movents were listed on it. Is this standard for families?

The only thing we figure it might be is that we have a joint morgage even though she doesn't live at the property any more. She couldn't work out why she had bad credit though...the report was just a bunch of figures. I don't have debt either except for £2k that I'm looking after for my girlfriend on 0% cards.

Galstonian

You are financially associated by virtue of a joint account so your credit is linked. You can be disocciated but if you still have the joint account I don't think this is possible. If you consider it from the lenders perspective then you are both liable for at least one shared debt, you both need to be considered for any further borrowing.

I doubt that all your money movements were listed, merely accounts and account balances.

I was turned down for a phone as they spelled my name wrong when credit checking me. It is always worth asking why you have been refused.

ashmit

As of Sunday the law changes so that other people only get onto your credit rating if you have a financial association with them (according to Experian earlier this week). The joint mortgage would count.

I was wondering... my husband has no credit rating at all - didn't have a bank account at all until recently, no credit or anything at all. I do, but it's not wonderful. Would there be any benefit to him to get us financially associated do you think? Or would it make me look worse?

If this is impossible to answer without further details just ask

dawny10

Bizarrely, my partner shows up on my Equifax report but not Experian.

This may be because Experian have no record of my mortgage (which is joint) on their records!

lisyloo

Bizarrely, my partner shows up on my Equifax report but not Experian.

This may be because Experian have no record of my mortgage (which is joint) on their records!

It doesn't sound bizzare to me at all.
Most companies (like your mortgage lender) only use one agency and not both. So joint credit may show up on one and not the other.

Once you are "financially associated" with someone then a whole load of other stuff will show up as well.

dawny10

It does seem daft that any organisation using Experian would have no idea I am a homeowner with a mortgage.

I wonder how this affects my credit rating with companies using Experian, I don't know if having a mortgage is a good or bad thing as far as credit ratings are concerned!

lisyloo

It does seem daft that any organisation using Experian would have no idea I am a homeowner with a mortgage.

It's the same for me.
If they need that information then they should ask for it seperately.

I wonder how this affects my credit rating with companies using Experian, I don't know if having a mortgage is a good or bad thing as far as credit ratings are concerned!

I don't think it's either good or bad.
It's the payment history that's important.
Along with how long you've had the account, how long you've been on the electoral role.

Just having a mortgage means nothing on it's own.
It could mean that you have equity or it might mean you are in negative equity or are totally overstretched.
They cannot draw any conclusions about your credit worthiness just from the fact that you have a mortgage.